We've gathered together some of the best advice we can from the best experts on LAGERS retirement - our benefits specialists! Read on to get some great information on what you need to know about your LAGERS benefit.
Dana Eichholz, Senior Benefit Specialist
I think a lot of people don’t realize that our regular retirement ages are 55 (police/fire) and 60 (general) and that they have the opportunity to retire as early as 50 (police/fire) or 55 (general). The other thing is to remember to apply between 30 and 90 days of your desired effective date, which will always be the 1st of the month with LAGERS. We have a lot of people miss their earliest possible effective date because they don’t get their application in within the deadline.
Amanda Stratman, benefit Specialist
I would recommend creating a myLAGERS account before you retire. There are so many things that you can do prior to retirement in your myLAGERS. You can create a benefit estimate for retirement, find our LAGERS newsletters, and submit a retirement application. After retirement you can change your address through your myLAGERS, change your tax withholding, and find your 1099-R as well as other important documents.
Danielle Wilbers, Senior Benefit Specialist
Questions? Contact LAGERS!
So many people say they talked to their friend or their employer told them this or that about how LAGERS works, and sometimes things can get lost in translation and misunderstood. If you have questions about your LAGERS benefit, the best place to get those questions answered is - without a doubt - LAGERS. We have many resources for you to get your questions answered from your member handbook to our online webinars and in-person events. Plus, you can always call and ask a benefit specialist.
Tammy Burlbaw, Benefits Officer
My advice would be to educate yourself on your LAGERS benefit.
Do not go into retirement blindly; it will take a lot of stress off if you know what to expect.
Leslie Loar, Senior Benefit Specialist
When you retire be sure to explain to your family that you are receiving a retirement benefit. Let them know who we are, how the benefit is paid, and how to contact us if something were to happen to you.
And keep a note book on your personal information such as the accounts that you hold like insurance, IRA’s and payment information such as home loan, car loans, utilities etc.