LAGERS retirees provide strength for their communities' economy by re-investing their hard-earned retirement benefits back into their communities. For example, in Boone County last year, there were 611 retirees who, combined with other LAGERS beneficiaries, received over 11 million dollars from LAGERS benefits. This income is used by retirees and their families to purchase goods and services within their community. This increases the assets and strength of local area businesses, who, in return, expand their businesses and employment opportunities. There is little doubt the bones of any community consist, in large part, of the businesses found within the community. LAGERS retirees provide the calcium for these bones by providing economic strength through their LAGERS benefits.
I recently read an article from the Washington Post which stated, “If you don’t want to run out of money in retirement, follow this rule of thumb.” So, of course I clicked into the article to see what kind of advice they had to give.
I spent some time last week visiting with LAGERS members at the Missouri Municipal League legislative conference. This event is a time for local government leaders from across the state to gather in our capital city to listen to and speak with other elected officials about the challenges and opportunities facing their local communities.
Local government service is not for everyone. It takes employees and officials who are willing to invest time in their community and deeply care about building quality of life. There are so many areas of life that local government touches – from streets to sewers, schools to streams, youth programs to public safety, community art to secure online services– the people who serve must invest time to learn about and address a wide variety of issues, all to make their community stronger.
To many, the market turmoil that hit stocks globally last week came out of nowhere. In the US, after almost two years of the stock market grinding its way higher, seemingly in defiance of gravity, the over 5% fall last week reminded us that what goes up must come down. In truth, we’ve been living in an investing world which isn’t normal. Falls in the market like the one experienced this February however, are entirely normal, and often healthy, for markets to experience.
It's almost Valentine's Day, and we thought it would be fitting to re-post one of our favorite blogs from 2015 by Elizabeth Althoff, "5 Reasons to Love Your LAGERS Benefit." There are so many reasons to love a secure retirement, and LAGERS checks all the boxes. So while you're thinking of candy and flowers and heaarts, now that LAGERS is thinking about your financial future.
I was recently invited to the National Association of Police Organizations annual conference to speak regarding Communicating the Value of Public Service and also participate in a panel discussing Plan Funding and Design.The conference focus was best practices in attracting and retaining the best possible public servants and re-instilling value, pride and commitment to community service.It was truly an honor to be part of a group so dedicated to making a difference and proactively moving our communities forward.The caring of so many across the country was humbling and inspiring.
A utility worker from Rolla Municipal Utilities (above) clears debris.
Governments face many tough decisions when determining how to make the best use of taxpayer dollars. Citizens demand a certain level of service from public entities for protection, infrastructure, health, education, and more. Of course, in order to provide these services, governments need to be able to attract and retain qualified workers. The better the public workers you have working in your community, the better services you will enjoy as a taxpayer.
At LAGERS, we work every day to ensure that our members have secure modest retirement income when they decide to leave the workforce. It is extremely important for our members to be able to transition from middle class worker to a middle class retiree.