TCDRS Helps Power Texas
TCDRS retirement benefits don’t just help Texans retire with confidence. They help power the Texas economy. Since TCDRS was created in 1967, we’ve grown into a multi-billion dollar trust.
When TCDRS members retire from their careers in public service, most of them stay in the communities they served and use their monthly TCDRS benefit to pay taxes and buy goods and services. This means that TCDRS benefit payments help support local economies.
In fact, in 2017 alone, TCDRS paid $1.4 billion in total benefits to 76,273 retirees and former members, and more than 96% of these benefit payments went to Texas addresses.
Our economic impact is easiest to see in our Economic Impact Study for each year. (See 2017’s.)
This study lists State Senate, House and Congressional districts with their number of TCDRS retirees and beneficiaries, and the amount of money that TCDRS contributes to each of these communities. It also shows other things TCDRS benefits payments support like:
- $2 billion in total economic activity
- 14,752 jobs created
- $587 million in additional earnings
- $1.1 billion added to the Texas Gross Domestic Product (total value of new goods and services produced within Texas borders)
See the 2017 Economic Impact Study for more information.