Author Archives: Elizabeth Althoff

5 Things Every LAGERS Member Should Know About Their LAGERS Benefit

Whether it’s your first day on the job, or you’re a seasoned local government pro, you may feel a little overwhelmed when it comes to understanding your LAGERS benefit.  While there a many facets to how your benefit works, here are five simple themes every LAGERS member should know.

 

1. Your Hard Work Pays Off

LAGERS benefit calculation is pretty simple: work longer, earn more income in retirement.  That’s easy enough, but because you accrue service, and not an account balance, it can sometimes be difficult to visualize the true value of your LAGERS benefit.  LAGERS offers many different tools to help you estimate your future benefit, but know that each month you work, your future financial security grows - and that future monthly income will add up over a lifetime!

Tagged Disability Benefits, Funding, Retirement Security, Working after Retirement, state of the system, separating from employment, prefunded

2019 Legislative Day - The Importance of the LAGERS Retirement System

Last week, LAGERS members from every corner of the state gathered in Jefferson City to visit with lawmakers about the importance of their LAGERS retirement system! It was an action-packed day, full of tons of great visits with our state lawmakers.  Here are a few of the highlights!

Tagged Legislation, Advocacy, Policy, issues & policy, issues, legislative Day

Sharing the Good News about LAGERS

Tagged Legislation, Value of pensions, Policy, income replacement, issues & policy

What is LAGERS Legislative Day?

One of the most important things our members can do is to help us share the good news of LAGERS.   By ensuring local government employers have the tools to attract and retain great public servants, like you, LAGERS helps local communities across Missouri thrive and flourish – and it is important that we share this great news with our elected policy makers!

Tagged Legislation, Advocacy, Policy

Understanding Your 1099-R

 

 

Now that your 1099-R has been mailed, and is also available for download from your myLAGERS account, you may be wondering what all those crazy boxes mean.  Here is a simple summary of what’s in your 1099-R!

Tagged 1099, Retirees, taxes

From Our Members: What happens to my benefit if I change jobs?

A member recently emailed the following: I am currently a vested member and am possibly getting ready to change jobs to an employer that does not have Lagers.  I want to keep my Lagers because I am a vested member, how do I do that?  

Tagged quitting; leaving; terminating; employment, Retirement Benefits, vesting

LAGERS Economic Impact Can be Felt in Even the Most Unlikely of Places

It’s that time again when we pick a city, county or a region of the state to feature the economic footprint of LAGERS.  With the holidays upon us, I found myself thinking close to home and realized that we had yet to do a feature on my home county.

Tagged Economic Impact, Public service

Back By Popular Demand: Why the Biggest Number on the Page Isn't Always the Best...

One of the best parts of my job is getting to work with members at Pre-Retirement Seminars.  It is an exciting time in members’ lives as they begin to think about transitioning from their careers into a long-awaited, hard-earned retirement.  But such a transition is not without a few major decisions, one of which is selecting a LAGERS payout option.  Like many decisions you will have to make as you begin your retirement journey, choosing a payout options is an extremely important one, especially since it cannot be changed down the road.  It’s only natural then, that many of our members’ top question as they file into the seminar room is ‘how do I know which is the best payout option for me.’

Tagged Payout Options, Retirement Process

For LAGERS, Responsible Pension Funding Always Top of Mind

I recently attended a National Public Pension Funding Forum hosted by the National Conference of Public Employee Retirement Systems, and had the opportunity to hear from many pension fund administrators and experts about the pension funding successes and challenges in the United States.  As funds from across the county continue to work to ensure long term financial stability, one of my biggest takeaways from the event was that even though there are often no easy answers when it comes to pension funding, LAGERS is getting a lot of things right.

Tagged Funding, Pre-Funding, Sound Funding, 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 firefighter, pension reform, police, reform, value of local government, Value of pensions

Contact LAGERS

1-800-447-4334
M-F: 8:00 a.m. - 5:00 p.m.