People don't always know the answer to the question,"Who can participate in LAGERS?" Since LAGERS is a defined benefit pension plan and not based on an account balance, certain criteria have to be met in order for you to be able to participate in the plan.
There are so many reasons not to care about retirement. It's so far away. We have student loans to pay off. We are building a house. We just had a(nother) baby. We want to take a vacation. We want to buy a truck/boat/camper/iPhone, etc. It is so easy for the financial pressures of today to overshadow the financial necessities of tomorrow.
I recently attended a National Public Pension Funding Forum hosted by the National Conference of Public Employee Retirement Systems, and had the opportunity to hear from many pension fund administrators and experts about the pension funding successes and challenges in the United States. As funds from across the county continue to work to ensure long term financial stability, one of my biggest takeaways from the event was that even though there are often no easy answers when it comes to pension funding, LAGERS is getting a lot of things right.
This post was originally posted in August of 2017, and has been updated to reflect this year's COLA numbers.
This year LAGERS retirees will receive a COLA (Cost of Living Adjustment) of around 2.87%. This increase will be reflected on October 1st and it means much more than just a slight increase to your monthly benefit. It shows the strength and overall financial security of your LAGERS pension system.
This year’s LAGERS Annual Meeting is returning to wonderful St. Louis, MO! The hotel hosting the LAGERS Annual Meeting will be the Sheraton Westport Chalet located at the Westport Plaza in a suburb of St. Louis, Maryland Heights, MO. This wonderful hotel accommodates a large variety of meetings, including previous LAGERS Annual Meetings. Click Here for Reservation Information.