Sharing the Good News about LAGERS

Tagged Legislation, Value of pensions, Policy, income replacement, issues & policy

In Case You Missed It - Our Latest Facebook Live

In honor of America Saves Week we held another Facebook Live event this past Monday. Jeff Pabst, LAGERS' Education and Outreach Coordinator, discussed the value of LAGERS benefits in our latest installment.

Tagged Retirement Benefits, Retirement Options, Value of pensions, Retirement, Retire

New Research: Pensions Produce Positive Economic Impact in Missouri

 

A new study by the National Institute on Retirement Security (NIRS) shows that income retirees receive from public pension plans, like LAGERS, produce positive economic impacts across the nation. The study, using 2016 data, reports public pensions are responsible for $1.2 trillion in total economic output in the U.S. and added $202.6 billion in government revenue from retiree income taxes and spending.

Learn More About Pensions

 

Tagged Economic Impact, National Institute on Retirement Security, pensions, Value of pensions, Advocacy

$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, pensions, Value of pensions, Missouri

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

LAGERS Economic Impact - Northeast Missouri

 

Tagged Defined Benefit, Economic Impact, pensions, Retirees, Value of pensions, Missouri

Lessons from failed pension reform

We spend a lot of time talking about the savings crisis in the United States.  We’ve written about the unfunded liabilities in 401(k) plans, we’ve written about the lack of financial literacy, and the dangerously low retirement account balances across the country.  And while all of this might lead to the conclusions that having a defined benefit plan, like LAGERS, is an important cornerstone to retirement security in America, pension reform debates still often favor the significant reduction or elimination of defined benefit plans altogether.   

Tagged firefighter, pension reform, police, reform, value of local government, Value of pensions

Why the City of Webster Groves Switched from a Defined Contribution Plan to a Defined Benefit Plan

In 2013, the City of Webster Groves joined the Missouri Local Government Employees Retirement System (LAGERS), a statewide public defined benefit retirement plan covering local government workers from all across Missouri. This is our story of why and how we made this giant leap forward in providing retirement benefits to our employees, and, we believe, in ultimately enhancing service to our citizens.

Tagged Defined Contribution, Retirement Security, value of local government, Value of pensions, Retirement, Retire, cities, Local Government, Missouri

LAGERS Economic Impact - Northwest Missouri

LAGERS retirees contribute to the economies of cities and counties all across our great state. Just take a look at this snapshot of the economic impact created by the retirees of Northwest Missouri. In 2017, over $15 million was paid to our retirees, who then in turn spent money in our communities with their LAGERS benefits.

Tagged Defined Benefit, Economic Impact, pensions, Retirees, Value of pensions, Missouri

our Experience with LAGERS

Jackie Barnett, PHR, SHRM-CP is a long-term public employee at the City of Columbia, MO.  She has completed 23 years of service and is the HR Manager responsible for payroll support and benefits for over 2000 employees. The City of Columbia has recently engaged LAGERS to do on-site meetings for its employees in order to better inform them on the value of a LAGERS pension. Since pensions are a great tool to attract, but also retain quality employees, the City wants to educate its employees on LAGERS in order to increase retention among City employees. This is her account of their experience.

Tagged reitrement, Retirement, value of local government, Value of pensions, Financial security, cities, municipalities, Local Government

Contact LAGERS

1-800-447-4334
M-F: 8:00 a.m. - 5:00 p.m.