Are you responsible for onboarding new employees, providing employees with benefit information and/or helping employees through the retirement process? As someone who is responsible for administering your political subdivision’s LAGERS benefit, you likely play a role with one or all of those essential processes. The good news, LAGERS is here to help!
Many of you are currently in your budget season and may be considering a change to your LAGERS benefits. Your LAGERS system is designed to be flexible to meet your subdivision’s recruitment goals and budgetary constraints. Here are the 3 things you need to be thinking about when making a change in benefits.
LAGERS is a state-wide pension plan that provides defined benefit plans to more than 800 local government subdivisions in Missouri. LAGERS employers range from rural special districts to larger urban cities. Each with their own set of challenges, goals and budgets. This is why a flexible system like LAGERS is a good solution for LAGERS’ employers.
A little over a year ago, LAGERS deployed the Certified LAGERS Administrator (CLA) program to help educate those of you responsible for administration of the LAGERS at your subdivision. Topics include monthly reporting, understanding and communicating your LAGERS benefits, employer contribution rates, and much more! When we deployed this certification, we didn’t quite know what sort of interest we would have. Well, we have had a huge amount of interest and the enrollments keep coming in!
For many of our employers, it’s budget season! Usually around this time of year, we have an increased number of requests from you for changing your LAGERS benefit level(s). So, I thought it would be a good idea to discuss what can be changed, the process and the pros and cons of upgrading LAGERS benefits.
Are you responsible for administering LAGERS’ benefits at your employer? This great opportunity is for you! The Certified LAGERS Administrator program is designed to give you a foundation of knowledge about LAGERS, enhance your ability to administer your LAGERS plan and know what resources are available to you.