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
Arguably the most important document we produce at LAGERS is the comprehensive annual financial report (CAFR). This document is not only required by law, but it serves to give an update on the financial status of the LAGERS trust fund. Just about anything you would want to know about LAGERS can be found in the CAFR. The problem is, it isn't especially entertaining to read. So, for those who like the Cliffs Notes, here are the highlights from the 2017 annual report.
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.
If you have ever read a story in the news on the health of a pension fund, you’ve most likely already heard about funded statuses (or ratios). This measurement of pension health is obviously important, but for many, it can seem a bit abstract. Trying to decipher what the number means, is the number good, should I be worried, are all overwhelming questions to say the least.