5 Things Every LAGERS Member Should Know About Their LAGERS Benefit

Whether it’s your first day on the job, or you’re a seasoned local government pro, you may feel a little overwhelmed when it comes to understanding your LAGERS benefit.  While there a many facets to how your benefit works, here are five simple themes every LAGERS member should know.

 

1. Your Hard Work Pays Off

LAGERS benefit calculation is pretty simple: work longer, earn more income in retirement.  That’s easy enough, but because you accrue service, and not an account balance, it can sometimes be difficult to visualize the true value of your LAGERS benefit.  LAGERS offers many different tools to help you estimate your future benefit, but know that each month you work, your future financial security grows - and that future monthly income will add up over a lifetime!

Tagged Disability Benefits, Funding, Retirement Security, Working after Retirement, state of the system, separating from employment, prefunded

Pensions 101: Funding A Pension

Tagged Defined Benefit, Funding, pensions, prefunded

For LAGERS, Responsible Pension Funding Always Top of Mind

I recently attended a National Public Pension Funding Forum hosted by the National Conference of Public Employee Retirement Systems, and had the opportunity to hear from many pension fund administrators and experts about the pension funding successes and challenges in the United States.  As funds from across the county continue to work to ensure long term financial stability, one of my biggest takeaways from the event was that even though there are often no easy answers when it comes to pension funding, LAGERS is getting a lot of things right.

Tagged Funding, Pre-Funding, Sound Funding, Budget

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 Funding Level Update

I recently sat down with Bob Wilson, LAGERS Director, to hear about our new funding level and how it matters to our employers and our members.

Tagged Investment Return, Funding, Investments; Return; LAGERS Portfolio, Retirement Security, secure retirement, LAGERS performance, Financial security, stock market, Sound Funding

How It Works: Contribution Rates & Investments

I recently had the chance to speak with the board of a prospective employer, and a common question came up about the relationship between investment performance and contribution rates.  Coincidentally, I planned to share this blog post and video explaining the relationship between LAGERS investment performance and employer contribution rates.

Tagged Contribution Rates, Funding, pensions, Pre-Funding, Sound Funding

From Our Members - Is the 4% contribution withdrawn from my paycheck after taxes?

 This is the third post in our new series, based on members' real questions to us.

Tagged Contributions, Funding, taxes, Retirement, Retire

The Goal is "Better"

Photo by Garrhet Sampson on Unsplash

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.

Tagged Funding, Security, Service, Strategy, Goals

LAGERS' 50th Year Was a Good One

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

Tagged Investment Return, 50th Anniversary, Employers, Funding, 2017

Highlights From LAGERS 2017 Annual Financial Report

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.

 

DOWNLOAD THE ENTIRE ANNUAL FINANCIAL REPORT HERE.

 

Tagged Funding, Unfunded Liability, annual report

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