Over the past 50 years that LAGERS has been in operation, the system has gradually and consistently increased its number of participating employers. This past year, LAGERS partnered with 20 new employers. These employers range from cities, libraries, fire protection districts, ambulance districts, regional planning commissions and more. Each of these employers was looking for a way to recruit and retain workers by providing secure retirement benefits. Join us in welcoming these employers to the LAGERS family!
The Transamerica Center for Retirement Studies recently wrapped up its annual retirement survey that measures employer and worker attitudes towards retirement. The results of this survey provide interesting insight about how three generations participating in the workforce (Millennials, Generation X, and the Baby Boomers) view retirement.
There is no question that the Boomers (those born between 1946 - 1964) are not only transforming retirement, but society as a whole. Transamerica calls this generation the "trailblazers of the new retirement" because they have "re-written societal rules at every stage of their life." There is too much information to unpack the entire Transamerica survey in this blog, so we will focus on the Boomers and some of their retirement blindspots they need to address as they approach retirement.
If you are a Boomer, you will want to keep reading.
Planning for your retirement is one of the most exciting times in your life. You’ve worked hard allthese years and now it’s your time to sit back and relax! Before you ride off into your sunset, you will want to make sure you avoid some common pre-retiree mistakes that could derail your retirement. I sat down with LAGERS’ Senior Benefit Specialist, Diane Towne, and talked with her about some of these common mistakes LAGERS members encounter as they near retirement.
Goals are important. Every person and organization should set goals so they are constantly seeking to get better. This time of year people are thinking about their goals; some refer to these as New Year's Resolutions. It's a time to reset, recharge and prepare to run head first back into the fire of life.
The past year was a really good one for LAGERS. We celebrated a big anniversary, remained on strong financial footing, welcomed 20 new employers, and more! Here are the highlights from a very eventful 2017.
LAGERS Celebrated Our 50th Anniversary
"Your first year in retirement is a little like starting a new job, only without all the work. But still, it involves establishing a routine, figuring out when your money will come in, building new relationships, and feeling excited about the future. Starting a new job means dealing with a lot of unknowns, and beginning a new chapter in life as big as retirement is no different. Here is what you can expect from LAGERS during your first year."
Do you know there are only two requirements to participate in LAGERS? Find out what these two requirements are to determine if YOU are eligible to participate in LAGERS. Watch this video, "Who Can Participate in LAGERS?"
Seems like only yesterday we were ushering in the start of 2017. And suddenly we look up and it’s December already. Wow. Where did all the time go and what did we accomplish? Did I make good use of my time, which becomes more precious and fleeting every day? Am I making my work, community and world a better place? Did I apply my best effort? Am I proud of all I’ve done this past year? Those are the things I find myself asking a lot this time of year. It’s a time of reflection, for all of us.
Missouri LAGERS provides defined benefit plans to government entities because they help attract workers to provide valuable services for communities. Since the amount of the benefit is tied to longevity of your service, defined benefit plans discourage turnover. But, most importantly, defined benefit plans help employees retire when they should. This is good for the employer so they can avoid the additional costs incurred when employees stay on the job too long. All of these advantages of a defined benefit retirement plan are also good for the community as a whole.Here's how:
This is the first post in our new series, based on members' real questions to us.
I was recently asked, "Can I still purchase military service even though I am receiving a pension from the military?"
The quick answer is yes, you may still purchase military service even though you receive a military pension. However, you must be an active LAGERS member to do so. The following information provides more details about purchasing service at LAGERS.