The myLAGERS Route to Retirement Planning

What is myLAGERS, and why do I need a myLAGERS account?

I recently spoke with a former colleague who told me she was not even 30 years old yet and she has absolutely no interest in talking about or thinking about retirement or planning for her financial future. She did know when she would be vested in her current pension, but she had no idea how a pension works and couldn't tell me anything about her specific employer's plan. "I'll worry about that in a few years." Bottom line, she sounded exactly like me when I was her age, and my current-age self would love to have a "welcome to reality" talk with my younger self. Unfortunately, I was not convincing enough to make my former colleague take action to support her financial future, but she is now, at least, THINKING about it.

Tagged myLAGERS, Planning, secure retirement, Financial security, Retirement plans

LAGERS Economic Impact - Northwest Missouri

LAGERS retirees contribute to the economies of cities and counties all across our great state. Just take a look at this snapshot of the economic impact created by the retirees of Northwest Missouri. In 2017, over $15 million was paid to our retirees, who then in turn spent money in our communities with their LAGERS benefits.

Tagged Defined Benefit, Economic Impact, pensions, Retirees, Value of pensions, Missouri

Back By Popular Demand:  The Extra LAGERS Benefit You May Not Know You Have

When you think about your LAGERS benefit, probably the first words that come to mind are ‘retirement benefit.’ After all, Retirement System is in our name. But don’t forget that there is more to your benefit than the name may suggest; LAGERS also provides our members with disability and survivor’s benefits.

Don’t think your employer elected these benefits? Think again. Every LAGERS member is automatically covered by both disability and survivor’s benefits. Here’s what you need to know about this important benefit:

Tagged disability, Disability Benefits, retirement planning

LAGERS Funding Level Update

I recently sat down with Bob Wilson, LAGERS Director, to hear about our new funding level and how it matters to our employers and our members.

Tagged Investment Return, Funding, Investments; Return; LAGERS Portfolio, Retirement Security, secure retirement, LAGERS performance, Financial security, stock market, Sound Funding

our Experience with LAGERS

Jackie Barnett, PHR, SHRM-CP is a long-term public employee at the City of Columbia, MO.  She has completed 23 years of service and is the HR Manager responsible for payroll support and benefits for over 2000 employees. The City of Columbia has recently engaged LAGERS to do on-site meetings for its employees in order to better inform them on the value of a LAGERS pension. Since pensions are a great tool to attract, but also retain quality employees, the City wants to educate its employees on LAGERS in order to increase retention among City employees. This is her account of their experience.

Tagged reitrement, Retirement, value of local government, Value of pensions, Financial security, cities, municipalities, Local Government

From Our Members: I Sent My Retirement Application, Now What?

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 download, complete, and return the Application for Retirement 30 -90 days prior to when you want to receive your first benefit payment. However, you should be aware you can apply online through your myLAGERS account. You do not have to use a paper form or standard mail.

Tagged myLAGERS, Payout Options, Retirement Options, retirement planning, Retirement Application, apply for retirement, Retirement, Retire

When it Comes to Pension Reform, Focusing on an ‘Ideal’ Assumed Rate of Return Misses the Mark

As some pension plans across the country continue to struggle with growing unfunded liabilities, we hear a lot these days about pension reform.  One common topic these reforms address is the assumed rate of return used in calculating the fund’s required contribution rate.  While it is imperative that all assumptions used in the calculation of an employer’s pension cost are reasonable and reviewed periodically, it seems that blaming a fund’s chosen rate of return for any funding shortfalls is probably missing the mark.

While policy makers continue to grapple with the question of what is a ‘realistic’ or ‘ideal’ investment assumption, a pension plan experiencing funding difficulties is likely less because of the actual assumption and more the result of not consistently making the required contributions, or failing to adjust the contribution rate when plan experience doesn’t meet the assumptions. 

Tagged Investment Assumption, reform

Retirement Benefits: There's more to it.

When I speak to leadership at many of our political subdivisions, they tell me one of the primary reasons they provide retirement benefits through LAGERS is recruitment and retention of employees. This is extremely important for our public entities because our communities need quality dedicated public servants.

Back By Popular Demand: How are Employer Contribution Rates Determined?

This post was originally published in June 16, 2015. Annual 2019 rates, as well as your annual valuation are now posted on eclipse, and it's a good time to refresh your knowledge on contribution rates and how they work. Download your annual valuation from eclipse to learn more.

Each LAGERS employer has a monthly contribution rate for its employee group that may change annually. This contribution the employer makes ensures proper funding of its pension benefits.  There are many driving factors that play into calculation of LAGERS' employers contribution rates, and we will discuss the top three in this blog. 

Tagged Defined Benefit, Contribution Rates, Employer Cost, Members

Contact LAGERS

1-800-447-4334
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