CalSTRS released an economic impact study that measured the impact of benefit payments on California's economy.

Staff shared the findings with the Teachers’ Retirement Board at its March 2025 meeting.

The report, which measured data from July 1, 2022, through June 30, 2023, showed that benefit recipient spending provided a steady and ongoing economic stimulus to California’s communities and the state economy. Dollars that benefit recipients spent on housing, utilities, food, transportation and other items flow through the economy, generating income and opportunities for other Californians.

The nearly 290,000 CalSTRS benefit recipients living in California received about $16.8 billion in benefits. The expenditure of benefits:

• Supported 103,400 jobs.

• Generated $7.2 billion in income for California business owners and employees.

• Added $14 billion of value to California's Gross Domestic Product, the measure of the total value of goods and services in California.

More information is available in the full report.