I spend a lot of time traveling the state and I get to hear a lot of great questions from our members. Some of you love to get into the details of your benefit and probably revel in the thought of reading a 1000 word blog on LAGERS’ funding policy; but I’ve found there are an equal number of you who’d rather skip over all those details for just a basic understanding of how your benefit works. We live in a world of information overload, so I am totally sympathetic to those of you out there who just want a quick answer. So this week, instead of looking at one topic in depth, I thought I’d hit briefly on the top five questions I get from members. Don’t see the question you want a quick answer to on my list? Leave a comment and I’ll be happy to respond! Make sure you stay tuned for parts 2 and 3 of this blog which will address top pre-retiree and retiree questions!
Understanding what wages your employer is reporting to LAGERS is important because those wages have a direct impact on your benefit calculation; the higher the wages, the greater your monthly benefit at retirement.