Author Archives: Jeff Kempker, CEBS, CRC

How LAGERS Stacks Up to Other U.S. Pension Plans

Photo by Mathieu Turle on Unsplash

 

LAGERS' Executive Director and I attended the annual conference of the National Association of State Retirement Administrators (NASRA) last week. This conference gathers together the leaders of the largest public pension plans in America. Attending allows us to hear ideas about how to better serve our members and gain insight into best practices in the retirement industry.

Tagged Pre-Funding, Value of pensions, Pension Health, Retirement plans, Sound Funding, governance

Back by Popular Demand: When is the Best Day to Retire?

Tagged COLA, Members, retirement age, retirement planning

6 Things LAGERS Does to Protect Your Money

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LAGERS understands that the benefits we offer help tens of thousands of Missourians gain financial independence. We take our responsibility as caretakers of your money very seriously. LAGERS' Board of Trustees and staff are considered fiduciaries. This means we are legally obligated to act and make decisions that are in the best interest of our members and their beneficiaries. There are many specific things we do on a daily basis to help protect your money. Here are a few.

Tagged LAGERS Board, Retirement Security, Security, governance, Advocacy, prefunded, Financial Independence

5 MYTHS LAGERS MEMBERS BELIEVE ABOUT THEIR BENEFITS

 

Tagged Contributions, Investments, COLA, Final Average Salary, Retirement Options, Retirement, Retire

Proof That Pensions Are Sustainable For Missouri's Local Governments

Photo by Fabian Blank on Unsplash
  • About half of Americans age 55 and older have nothing saved for retirement. However, 20% of these do have access to a defined benefit pension plan.
  • Defined benefit pensions are the preferred retirement plan for state and local government employers.
  • 39 employers have chosen LAGERS defined benefit plan for their employees within the last year. Almost all switched from a 401(k)-type plan.
  • Defined benefit plans, like LAGERS, help government employers attract and retain good workers to serve the community.

 

Tagged 401(k), pensions, Security, Value of pensions, Retirement, Retire, Local Government, Missouri

New Research: Pensions Produce Positive Economic Impact in Missouri

 

A new study by the National Institute on Retirement Security (NIRS) shows that income retirees receive from public pension plans, like LAGERS, produce positive economic impacts across the nation. The study, using 2016 data, reports public pensions are responsible for $1.2 trillion in total economic output in the U.S. and added $202.6 billion in government revenue from retiree income taxes and spending.

Learn More About Pensions

 

Tagged Economic Impact, National Institute on Retirement Security, pensions, Value of pensions, Advocacy

We’re Not Producing Widgets: Why We Need Great People in Government Jobs

 

We all want to live in communities that are safe, stable and vibrant. This means we need to create towns with solid infrastructure, strong police protection, responsive fire and EMS services, great schools, good parks, and successful businesses. But the essential ingredient to produce great communities is so often overlooked. People make it happen!

Tagged Baby Boomers, pensions, Recruiting, Public service

$286 Million: That's How Much LAGERS Paid to Missouri Residents Last Year

DOWNLOAD THE 2018  ECONOMIC IMPACT REPORT

 

The recently released 2018 Economic Impact Report from Missouri LAGERS shows the pension fund paid $308 million to retired local government workers and their loved ones last year with ninety-three cents of every dollar ($286 million) staying in Missouri.

Tagged Economic Impact, pensions, Value of pensions, Missouri

If Your Employer Provides a Retirement Plan, You're in the Minority

 

A recent article in Forbes, Workplace Retirement Coverage Drops And The System Continues To Fail, by Teresa Ghilarducci, provides some sobering statistics about retirement preparedness for Americans. It is no surprise Americans who have access to a retirement plan at work will be better prepared for retirement than those without a plan. However, according to Ghilarducci, only 40% of workers in the U.S. are covered by a retirement offered by their employer. This is a 4% decrease since 2014 and this number has declined in 14 of the 17 years since 2000.

Tagged congress, secure retirement, three legged stool, Value of pensions, Retirement plans, Public service, Retirement, Retire

Why We Millennials Should Care About Our Pensions

 

There are so many reasons not to care about retirement. It's so far away. We have student loans to pay off. We are building a house. We just had a(nother) baby. We want to take a vacation. We want to buy a truck/boat/camper/iPhone, etc. It is so easy for the financial pressures of today to overshadow the financial necessities of tomorrow.

Tagged Millennials, pensions, Retirement, Retire

Contact LAGERS

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