Your LAGERS Defined Benefit Plan Can Bring Peace of Mind

When the stock market is in flux like it has been recently, having a defined benefit that grows as you continue to work regardless of market performance can be very reassuring. Additionally, many of our retirees during this time have expressed their monthly check has been a stabilizing force for their financial security. So, rest assured your LAGERS defined benefit provides you with financial security both today and when you retire.

Tagged Defined Benefit, secure retirement, Security

3 Important Things For LAGERS' Retirees to Know Right Now

We want our retirees to have peace of mind regarding their LAGERS benefit during this time of uncertainty. Here are three important things to remember:

Tagged Defined Benefit, Retirees, Cornonavirus, COVID-19

Types of Retirement Plans

This article is re-posted from our Administrator blog, the blog we do specifically for our administrative contacts who work on the employer reporting side of LAGERS. If you're interested in subscribing to this blog we'd love to deliver you this great content straight to your inbox once a month.

Read the Administrator

Tagged Defined Benefit, 401(k), 457, Defined Contribution, Retirement plans

Pensions 101: Funding A Pension

Tagged Defined Benefit, Funding, pensions, prefunded

From Our Members: Can I Borrow Money from My LAGERS Account?

 

Tagged Defined Benefit, 401(k), Defined Contribution, Borrowing

Back By Popular Demand - The Significance of Your LAGERS COLA Benefit is Larger Than You Think . . .

This post was originally posted in August of 2017, and has been updated to reflect this year's COLA numbers.

 This year LAGERS retirees will receive a COLA (Cost of Living Adjustment) of around 2.87%. 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

LAGERS Economic Impact - Northeast Missouri

 

Tagged Defined Benefit, Economic Impact, pensions, Retirees, Value of pensions, Missouri

LAGERS Economic Impact - Northwest Missouri

LAGERS retirees contribute to the economies of cities and counties all across our great state. Just take a look at this snapshot of the economic impact created by the retirees of Northwest Missouri. In 2017, over $15 million was paid to our retirees, who then in turn spent money in our communities with their LAGERS benefits.

Tagged Defined Benefit, Economic Impact, pensions, Retirees, Value of pensions, Missouri

Back By Popular Demand: How are Employer Contribution Rates Determined?

This post was originally published in June 16, 2015. Annual 2019 rates, as well as your annual valuation are now posted on eclipse, and it's a good time to refresh your knowledge on contribution rates and how they work. Download your annual valuation from eclipse to learn more.

Each LAGERS employer has a monthly contribution rate for its employee group that may change annually. This contribution the employer makes ensures proper funding of its pension benefits.  There are many driving factors that play into calculation of LAGERS' employers contribution rates, and we will discuss the top three in this blog. 

Tagged Defined Benefit, Contribution Rates, Employer Cost, Members

Back by Popular Demand: How Retirement Benefits for Government Workers Help Everyone

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

 This post was originally published in November, 2017. For more information on how pensions benefit everyone, go to showmesecurity.molagers.org

Learn More about Show Me Security!

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

Contact LAGERS

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