This year's Annual Meeting was by all counts a success. We met with many members and employer representatives and talk secure retirement benefits and the importance of having a pension. We got to showcase our wonderful hard working public servants by rolling out our first Local Government Hero Award. Congratulations to Brent Mullin, Sikeston Department of Public Safety, for being this year's winner. Brent works with Sikeston's Bulldog Pantry which provides clothing, supplies and food to kids in the community. Congrats to all our nominees this year, and we look to honoring many more LAGERS members with this accolade for many years to come!
Diane, our pension expert benefits officer at LAGERS, retired last week after over 40 years in the pension industry. I was able to ask her a few questions about her career in the industry and how working to serve to local government employees of Missouri made a difference in her life.
It's always nice to be thanked for a job well done. Everyone needs an "atta boy" once in awhile. And the team at LAGERS is no exception. We love when our members send appreciation our way for protecting their retirement money.
One of the most common questions members ask at Pre-Retirement Seminars is ‘what is the average cost of living adjustment LAGERS retirees receive each year?’
Public pension plans that are well-funded share some common characteristics, according to the National Association of State Retirement Administrators (NASRA). And since LAGERS ranks in the top ten in terms of funding among U.S. plans, you may guess that these characteristics would be found in our practices. And you would be right.
On Tuesday we held a Facebook Live event to explain the new LAGERS retirement eligibility options for certain public safety personnel. Elizabeth Althoff was instrumental in this project and explained how the new law works and answered the most common questions that we get about this new option.
Many people my age (mid 30s) can’t fathom what it’s going to be like in 30 years when we reach retirement. It’s a hard concept for us to understand because it is so far away from now. For some, you’re on the doorstep of retirement and others may be like me. Either way, we all need to understand the financial value LAGERS brings to our ability to achieve financial security in the future.
Local government service is for heroes. It takes employees and officials who care deeply about building quality of life for their city. Their accomplishments create what we all love about our communities, from parks and main streets, to clean sidewalks and safe neighborhoods.