Public pensions boost the economy

U.S. systems have $6 trillion in assets, membership of more than 27 million

By Michael Pramik, Ohio Public Employees Retirement System

May 21, 2026 – A pension industry database reports that defined benefit plans wield significant economic influence in the United States, boasting assets totaling $6 trillion.

Public Plans Data, a website housing comprehensive information on state and local pensions and retiree health plans, says there are more than 5,000 public-sector retirement plans in the country dating back to the 19^th century. Their membership is substantial, with 15.3 million active workers and 12.4 million retirees. These retirees collectively receive about $393 billion annually in benefit distributions.

The website is a collaboration among the Government Finance Officers Association, the Center for Retirement Research at Boston College, the National Association of State Retirement Administrators and the MissionSquare Research Institute. The data covers fiscal years 2001 to 2024.

Public Plans Data encompasses statistics from more than 250 state and local pension plans, representing 95% of U.S. state and local plan assets and members.

The database website offers “quick-fact” pages presenting data at national, state, retirement system and retirement plan levels. It has downloadable financial reports and actuarial valuations for all sample plans, alongside an advanced interactive data browser for tailored searches. There’s information on actuarial funding, costs, investments and cash flows.

Exploring the site reveals that state and local public employees account for between 10% and 15% of the U.S. workforce, with about a fourth of them not covered by Social Security. This group comprises almost half of all teachers and more than two-thirds of firefighters and public safety officers.

We’ve periodically been questioned about the number of public workers across the country who contribute either to a public pension, or to Social Security, or to both. There’s a map on the site that provides percentages, by state, of Social Security coverage for state and local employees.

In 2024, membership in state-and-local pension plans, such as OPERS, numbered 36.4 million. About one-fourth of state and local employees are not covered by Social Security, including nearly half of all teachers and more than two-thirds of firefighters and public safety workers.

The site also provides information on pension plans by state, facilitating comparisons among different systems and against national averages. For instance, examining Ohio in the “Quick Facts” section reveals data about the state’s four largest statewide public pension plans, with OPERS boasting the highest funded ratio among the state plans, 6.2 percentage points higher than the national average.