LAGERS Economic Impact - Northeast Missouri

 

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

There Are Two Paths To Retirement, Find Out Which One You Will Take.

Photo by Jens Lelie on Unsplash

 

There are two paths to retirement, the traditional path and the non-traditional path. The traditional path is the one where you work your entire career and decide to retire to a life of leisure with no plans for a future job of any sort. The non-traditional path is a more of a gentle downward slope rather than a cliff into retirement. It is characterized by continuing some type of paid employment and gradually easing into the life of leisure when you sever ties with all employment for good. Which path will you take? If you're like most Americans, you will take the non-traditional path.

Tagged Retirement, Retire, secure retirement, Re-employment, Planning, Millennials, Finances

You Should Attend This Meeting

Every year, around this time, I’m always amazed by how quickly time has flown. This year, of course, was no different. In fact, it seems like time is going faster each and every year. Now that the kids are back in school, playoff baseball and football are quickly approaching, its that time of year where we begin ramping up for the LAGERS Annual Meeting.

Tagged Annual Meeting, Members, Employers, LAGERS Board

Rule of 80 Gives LAGERS Members Another Early Retirement Option

If your employer has elected the Rule of 80 option for your LAGERS retirement benefit, you have another option for when you can retire and collect your benefit.

Tagged early retirement, rule of 80, pensions, Retirement Benefits, Retirement Options, Retirement, Benefit

Bob's Notes from NASRA

I recently attended the National Association of State Retirement Administrators annual training conference. It’s very helpful to get together with peers and share successes and what’s working best with others across the country. It serves both as an affirmation of some things we’re doing very well and an inspiration of other practices we can employ to be even better. (At this point I’m sure you’re thinking, “Wow, I bet THAT’S a giant gathering of retirement nerds...and you would be right. But we're hard working, caring nerds, so it’s all good.) My desk now includes 4 pages of notes ranging from cybersecurity ideas for discussion, team/leadership development, to membership surveys. The information is only as good as the user, so my task is to explore each item to see how it might make our system even better.

Tagged Risk, risk assesment, NASRA, Security

Help Your Future You: Set a Budget & Stick To It

When planning for your financial future, there are many different factors that you must consider to ensure you can achieve financial independence. I am constantly thinking about retirement, of course, because I work for a retirement system. But, for Millennials like me, we have a hard time thinking about retirement because it’s 20 or more years away. So, how do we set ourselves up to ensure we can reach a point in our life where we can do what we want, when we want to? Here’s idea to get you started, set a budget and stick to it.

Tagged Retirement, Retire, Financial security, Budget

Lessons from failed pension reform

We spend a lot of time talking about the savings crisis in the United States.  We’ve written about the unfunded liabilities in 401(k) plans, we’ve written about the lack of financial literacy, and the dangerously low retirement account balances across the country.  And while all of this might lead to the conclusions that having a defined benefit plan, like LAGERS, is an important cornerstone to retirement security in America, pension reform debates still often favor the significant reduction or elimination of defined benefit plans altogether.   

Tagged pension reform, reform, firefighter, police, Value of pensions, value of local government

Why the City of Webster Groves Switched from a Defined Contribution Plan to a Defined Benefit Plan

In 2013, the City of Webster Groves joined the Missouri Local Government Employees Retirement System (LAGERS), a statewide public defined benefit retirement plan covering local government workers from all across Missouri. This is our story of why and how we made this giant leap forward in providing retirement benefits to our employees, and, we believe, in ultimately enhancing service to our citizens.

Tagged Missouri, Value of pensions, Local Government, cities, Retirement, Retire, value of local government, Retirement Security, Defined Contribution

Why Vesting is Important

Many people around the pension world freely use the word "vesting". I thought it might be good to rehash exactly what vesting means for you. This video does a great job of explaining why vesting is the single most important thing you need to understand about your benefit.

LAGERS' Latest Performance Update

Recently I asked Brian Collett, our CIO, to give me an update on our most recent investment numbers. He shared lots of information with me on our most recent numbers, but also talked about our Asset study that we just completed, and how that shapes our investment strategy.

Tagged Sound Funding, Brian Collett, equities, stock market, inflation, Retirement, Retire, Quarterly Update, Pension Health, LAGERS performance, Investments; Return; LAGERS Portfolio, Investments, Investment Return, Contribution Rates, Asset Study

Contact LAGERS

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