LAGERS is a state-wide pension plan that provides defined benefit plans to more than 800 local government subdivisions in Missouri. LAGERS employers range from rural special districts to larger urban cities. Each with their own set of challenges, goals and budgets. This is why a flexible system like LAGERS is a good solution for LAGERS’ employers.
During the final weeks of the second session of 100th General Assembly, LAGERS’ Expansion of Employee Contribution Bill, House Bill 1467, was truly agreed to and finally passed.
During these uncertain times, there seem to be more questions than answers. While your LAGERS system is designed to weather these types of storms, you may still have questions about how the COVID-19 outbreak will impact LAGERS. Here are the answers to the top frequently asked questions we have received:
Photo: Sally Ince/News Tribune
There is still time to attend a LAGERS' HResource meeting in 2020! With meetings already completed in Springfield and Jefferson City, LAGERS will visit St. Peters and Lee's Summit to round out these events. LAGERS will also be providing a live webinar if you are unable to attend one of these meetings in person.
Is your organization considering making a change to your LAGERS benefits? Perhaps an upgrade in benefit multiplier or adding the Rule of 80 option? LAGERS Education and Outreach Coordinator Jeff Pabst decodes the supplemental valuation for you.
A little over a year ago, LAGERS deployed the Certified LAGERS Administrator (CLA) program to help educate those of you responsible for administration of the LAGERS at your subdivision. Topics include monthly reporting, understanding and communicating your LAGERS benefits, employer contribution rates, and much more! When we deployed this certification, we didn’t quite know what sort of interest we would have. Well, we have had a huge amount of interest and the enrollments keep coming in!
LAGERS' most recent economic impact numbers are coming in, and it looks to be another successful year of providing stable economic foundations for our members, retirees and the communities in which they live. Here are just a few quick stats:
We're proud to provide retirement, disability and survivor benefits to our members, and we're also proud that those benefits in turn create a ripple effect throughout economies across Missouri. Our retirees spend their modest pension incomes on goods and services in which they live. That creates a positive impact for all of us.
Be sure to watch for the full 2019 Economic Impact Report, which will be released in the coming weeks, and until then, register for our Economic Impact Webinar on October 17.
For many of our employers, it’s budget season! Usually around this time of year, we have an increased number of requests from you for changing your LAGERS benefit level(s). So, I thought it would be a good idea to discuss what can be changed, the process and the pros and cons of upgrading LAGERS benefits.