LACERA Retirees Boost L.A. County Economy by $2.7 Billion
As part of fulfilling our mission to protect member benefits, LACERA regularly informs public stakeholders about the multifaceted ways that our members contribute to the health and vitality of our communities, both while working and after retirement.
With retirement security becoming a pressing national issue, LACERA recently commissioned a report that balances out the narrative—detailing how the defined benefits our retired members receive ripple throughout the economy, supporting various industries and job sectors.
Among other findings, the report puts a value—in actual dollars—on our retired members’ contributions to the statewide and local economy. Over 82 percent of our nearly 74,000 retired members stay within California after retirement, with approximately 42,300 retirees residing in Los Angeles County. In 2021, LACERA retirees living in L.A. County generated $2.7 billion in economic activity, supporting nearly 24,000 jobs and substantial tax revenues.
For more findings, we invite you to view our infographic Fact Sheet, which includes retiree demographic data and positive spending impacts. More detailed information is available in our press release summary of the Beacons Economics report or December 9th presentation to LACERA’s Board trustees. You can also access the full Beacon Economics report on lacera.com.
LACERA is proud to represent our members and highlight their continued contributions to the communities in which they live and serve.