We want our retirees to have peace of mind regarding their LAGERS benefit during this time of uncertainty. Here are three important things to remember:
As many of you know, we have had to cancel all of LAGERS in-person events from now until May 8th due to the Coronavirus (COVID-19). It was certainly not an easy decision to cancel these events that you, our members, rely on to learn more about your retirement plan. However, we still want to offer you the educational opportunities you need to further understand your LAGERS benefit. So, here are few of the online learning opportunities available to you.
Did you know that your LAGERS benefit isn’t just retirement benefits? If something were to happen to you while you are working there are also disability and survivor benefits available for active workers. These benefits are already included in the benefits provided by your employer and are automatic.
This year, LAGERS is seeking to expand the options available for employer election to provide more flexibility in the employee contribution election. Currently, an employer can elect to be either contributory or non-contributory. This year’s bills (House Bill 1467 and Senate Bill 768) seek to expand the options to 0, 2, 4, and 6% employee contribution. Over the past two years, LAGERS staff has traveled the state visiting with our members and employers about this proposal. While the feedback has been overwhelming positive, as with any legislative change, there are always questions. Here are a few of the most common questions we’ve received regarding this year’s proposal.