Back By Popular Demand                                             From Our Members: I Sent My Retirement Application, Now What?

A member recently emailed the following: "I downloaded the Application for Retirement. I will fill it out and send it in, but is there anything else I need to do at this time?"

Luckily, the process for retirement at LAGERS is simple. The member is right in that the first step is to submit the Application for Retirement 30 -90 days prior to when you want to receive your first benefit payment. You can apply online through your myLAGERS account or submit a paper application via mail, email or fax.

Tagged Retirement, Retire, apply for retirement, Retirement Application, retirement planning, Retirement Options, Payout Options, myLAGERS

$286 Million: That's How Much LAGERS Paid to Missouri Residents Last Year

DOWNLOAD THE 2018  ECONOMIC IMPACT REPORT

 

The recently released 2018 Economic Impact Report from Missouri LAGERS shows the pension fund paid $308 million to retired local government workers and their loved ones last year with ninety-three cents of every dollar ($286 million) staying in Missouri.

Tagged Economic Impact, Value of pensions, Missouri, pensions

Annual Financial Reports Available

Tagged Financial, CAFR, PAFR, GRS, Valuations

National Pension Education Association Update

 

I have had the opportunity to attend the National Pension Education Association’s conference for the past 3 years. This past year was in beautiful Tucson Az.  When I return, I always have a feeling of affirmation that your LAGERS system is doing many things right, but I also return with new ideas to make our education efforts better. So, I thought it would be a good idea to share some of these ideas with you.

Annual Meeting Wrap-Up

 

If Your Employer Provides a Retirement Plan, You're in the Minority

 

A recent article in Forbes, Workplace Retirement Coverage Drops And The System Continues To Fail, by Teresa Ghilarducci, provides some sobering statistics about retirement preparedness for Americans. It is no surprise Americans who have access to a retirement plan at work will be better prepared for retirement than those without a plan. However, according to Ghilarducci, only 40% of workers in the U.S. are covered by a retirement offered by their employer. This is a 4% decrease since 2014 and this number has declined in 14 of the 17 years since 2000.

Tagged Retirement, Retire, Public service, Retirement plans, Value of pensions, three legged stool, secure retirement, congress

From Our Members: When Will My LAGERS Benefit Run Out?

 

What Financial Independence Means to Me

 

 

Tagged Financial security, Security, secure retirement, pensions

2018 National Boss's Day

Boss's Day was October 16th, and I must confess, in the past I looked forward to this day as much as I looked forward to going to the dentist. Not necessarily a day I celebrate. However, that has changed. I am excited and happy to say even though Boss's Day was officially the 16th, we are celebrating today, the 18th at LAGERS. We had our annual office chili cook-off and celebration of our bosses today.  I've definitely canceled my dentist appointment; I want to celebrate now.

Back By Popular Demand: Why the Biggest Number on the Page Isn't Always the Best...

One of the best parts of my job is getting to work with members at Pre-Retirement Seminars.  It is an exciting time in members’ lives as they begin to think about transitioning from their careers into a long-awaited, hard-earned retirement.  But such a transition is not without a few major decisions, one of which is selecting a LAGERS payout option.  Like many decisions you will have to make as you begin your retirement journey, choosing a payout options is an extremely important one, especially since it cannot be changed down the road.  It’s only natural then, that many of our members’ top question as they file into the seminar room is ‘how do I know which is the best payout option for me.’

Tagged Payout Options, Retirement Process

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