Impact of CalSTRS Benefit Spending on California's Economy

This report examines the economic impact of CalSTRS benefit spending in California for the fiscal year 2022–23. It details that over 352,000 benefit recipients received a total of $19.9 billion in benefits, with $16.8 billion allocated to nearly 289,000 recipients residing in California. The report outlines the direct, indirect, and induced economic impacts of this spending, which collectively supported approximately 103,400 jobs across various industries. It explains that benefit spending generated $7.2 billion in labor income and contributed $14 billion to California's Gross Domestic Product. Additionally, the report highlights tax revenues generated from this spending, totaling $3.8 billion for federal, state, and local governments. The methodology section describes the data sources used, including the Consumer Expenditure Survey and IMPLAN economic modeling. The report emphasizes the importance of benefit spending as a continuous economic stimulus within California's communities.