3 Things You Need to Know About Changing Your Retirement Plan to LAGERS.

At times, when employers are considering joining the LAGERS system, they are choosing to switch from their standalone defined contribution plan to a defined benefit plan with LAGERS. These employers are making the choice to give their employees the ability to earn and receive secure monthly income from LAGERS when they retire. As well, they are setting a plan in place designed to recruit and retain quality workers while providing dedicated employees a path to retirement security. When employers are thinking about making the switch, there are few things they need to know.

Tagged Defined Benefit, joining LAGERS, Defined Contribution, Prospective Members, Retirement Security

How Retirement Benefits for Government Workers Help Everyone

Above: 2016 annual benefits paid to LAGERS' benefit recipients in Missouri.

 

DOWNLOAD: LAGERS 2017 Economic Impact Report

 

Employee benefits are often thought to be for the betterment of one and only one group - the employees. Rather than simply providing a salary, employers use benefits like health insurance, retirement plans, and paid vacation to build morale, keep good workers, and to attract new workers. For these reasons, it makes sense to think that compensation other than salary are good for the employees and only the employees. But there is more to it than that.

A publicly-held company must make decisions that will positively affect the bottom line so the shareholders may profit. Likewise, government leaders serve the taxpayers and make decisions to enhance the prosperity of their communities. Decisions about employee benefits, therefore, cannot only be valuable to the employee, but also must make sense for the shareholder or taxpayer. In other words, all stakeholders must get some return on the investment for employee benefits.

Tagged Defending Pensions, Defined Benefit, Economic Impact, pensions, Value of pensions, Taxpayers

The Webster Groves Experience

LAGERS loves storytelling.

Tagged Defined Benefit, Defined Contribution, Employers, Members, Prospective Members, Retirement, Retirement Security

The Significance of Your LAGERS COLA Benefit is Larger Than You Think . . .

This year LAGERS retirees will receive a COLA (Cost of Living Adjustment) of around 1%. This increase will be reflected on October 1st and it means much more than just a slight increase to your monthly benefit. It shows the strength and overall financial security of your LAGERS pension system.

Tagged Defined Benefit, COLA, Funding, Members, Retirees, Retirement, Security

Response to Forbes Opinion: 401(k)s Are Not the Solution

Tagged Defending Pensions, Defined Benefit, 401(k), Defined Contribution, Employers, Members, Prospective Members, Retirees, Savings

How are Employer Contribution Rates Determined?

Tagged Defined Benefit, Contribution Rates, Employer Cost, Members

How Should You Talk About Your LAGERS Benefits to Your Friends and Family? Here are Five Tips for a Positive Pension Chat.

Image of big family sitting at festive table and eating salad and roasted turkey

Tagged Defending Pensions, Defined Benefit, Members, Retirees, Value of pensions

Then vs. Now: How the Retirement Landscape Has Changed

Tagged Defined Benefit, Defined Contribution, Employers, Members, Retirees, Retirement, SSA

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