As if winter isn’t dreadful enough for those of us warm-weather lovers, at this time of year another certain unsavory topic is likely to preoccupy our thoughts—taxes. You know, that necessary evil that everyone wishes wasn’t so painful? Since it’s on all our minds though, we thought we’d talk about a few of the common tax issues that come up regarding your LAGERS benefits.
I have the pleasure of speaking with and educating many of our members across the state. One of the many things I hear from some of our younger members is, “I won’t ever get to quit working" or “It’s so far away, I can’t even think about it.” Some even hint that they will not be able to afford to ever quit working. But, the affordability of your future financial security and the amount of time in the future you have to save are directly related to one another.
I cannot believe it is the end of November already. Where has this year gone? We are just about to bid farewell to 2018 and turn the page on another very successful year for your LAGERS retirement system.
It’s that time again when we pick a city, county or a region of the state to feature the economic footprint of LAGERS. With the holidays upon us, I found myself thinking close to home and realized that we had yet to do a feature on my home county.
A member recently emailed the following: "I downloaded the Application for Retirement. I will fill it out and send it in, but is there anything else I need to do at this time?"
Luckily, the process for retirement at LAGERS is simple. The member is right in that the first step is to submit the Application for Retirement 30 -90 days prior to when you want to receive your first benefit payment. You can apply online through your myLAGERS account or submit a paper application via mail, email or fax.
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.
I have had the opportunity to attend the National Pension Education Association’s conference for the past 3 years. This past year was in beautiful Tucson Az. When I return, I always have a feeling of affirmation that your LAGERS system is doing many things right, but I also return with new ideas to make our education efforts better. So, I thought it would be a good idea to share some of these ideas with you.