Diane, our pension expert benefits officer at LAGERS, retired last week after over 40 years in the pension industry. I was able to ask her a few questions about her career in the industry and how working to serve to local government employees of Missouri made a difference in her life.
On May 23 LAGERS held our first Facebook LIVE event. Assistant Director Jeff Kempker answered the 5 most common questions we get from members on their LAGERS benefit, then answered your questions live. We had a great discussion about pensions and how they contribute to a secure retirement for many and how LAGERS is leading that effort.
My colleague Penny and I recently spent some time in Rolla to honor one of our long-standing members, Rolla Municipal Utilities employee Rosalie Spencer, who was celebrating 50 years with the organization with a lunch reception. Around 70 of Rosalie's friends, family and coworkers present and past were on hand to celebrate her accomplishment. "When I started here, I told them if they hired me I wanted to stay until I retire. And I am." Rosalie plans to retire at the end of April of this year, and because she has stayed for 50 years should be able to replace a sizable amount of her salary with her LAGERS benefit.
Recently we held our first Facebook giveaway. Did you see it? During National Retirement Security week (which also happened to be the week of our Annual Meeting) we held a T-shirt giveaway. We wanted to hear your retirement plans, and boy, did you have a lot to say! Here are some excerpts from the contest comments on what LAGERS members plan to do in retirement. There are some great ideas in here in case you're still trying to figure out what your retirement dream will be!
If you have recently logged in to your myLAGERS account or reviewed your Member Annual Statement, you might notice that you have an account balance. What is the account balance exactly? In short, it is the 4% in member contributions that you have paid into the LAGERS system. Don’t have an account balance? Not to worry. This simply means that your employer pays in the entire cost of your LAGERS benefit.