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|New Research Highlights Value of Pension Investments for Communities|
Pensions invest over $20 billion; 161,000 jobs-years created from 1995-2010
Washington, D.C. – As state and municipal governments seek to address serious budget challenges, pension critics are advancing misdirected proposals to cut or eliminate defined benefit retirement plans. Countering the critics’ claims that pensions impose only costs, American Rights at Work Education Fund today releases new data demonstrating how private and public pension funds help drive the economies of communities through investments that, in addition to producing solid returns, create good jobs.
The paper analyzes a sample of construction funds and real estate trusts over 15 years. From 1995 to 2010, private Taft-Hartley and public pension funds put more than $20 billion into funds and trusts that invested in projects that created approximately 161,083 good jobs. These jobs were created as a collateral benefit of median aggregate returns that outperformed appropriate benchmark indexes. Taft-Hartley pensions are funds that are jointly controlled by employers and unions.
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American Rights at Work is a nonprofit advocacy organization dedicated to promoting the freedom of workers to organize unions and bargain collectively with employers.