Retirement Benefits: There's more to it.

Defined Benefit Plan-Blue

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.

Initially, a retirement plan will provide an entity the ability to recruit workers. However, when you have a retirement system that rewards longevity in public service, the employees will have a financial incentive to stay at their public employer. After years of serving their community, the employee will then have the ability to leave the workforce with dignity and financial security. Once this long-term employee leaves, this may create an opportunity to upward mobility for a lower level position, and then will create a vacant lower level position where the retirement plan can again be used to recruit.

As well, by having a longevity based plan, like the one above, this will make our communities better by keeping quality workers for the long-term. The services our communities provide are extremely valuable to our everyday lives. Services like clean water, safe communities, emergency services, clean parks and much more. Some of these services are we may take for granted from time to time, but they are extremely important to our lives. Additionally, one of the best ways to ensure that we have safe and clean communities is with dedicated public servants, and an excellent way to keep quality public servants is to provide them with a retirement plan that rewards their service.

This is only a portion of how Missouri LAGERS is making our state and our communities better. Find out how LAGERS is good for Missouri by visiting www.showmesecurity.molagers.org

 

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