In 2022, Tennessee had received $1.1 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.
Of that amount, $624,970 was in state pension funds, and the remaining $522,510 was in local government pension funds.
The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.
The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.
It’s worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.
The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.
Tennessee reported data from 40 pension systems, including two state-level pension funds and 38 local-level systems. The total number of pension system members was 274,530 (180,318 at the state level and 94,212 at the local level).
| Local | State | Local & State | |
|---|---|---|---|
| Employee contributions | $72,698 | $251,532 | $324,230 |
| Government contributions | $449,813 | $373,437 | $823,250 |
| Total Contributions | $522,510 | $624,970 | $1,147,480 |
Source: US Census Bureau
