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.
Every year, around this time, I’m always amazed by how quickly time has flown. This year, of course, was no different. In fact, it seems like time is going faster each and every year. Now that the kids are back in school, playoff baseball and football are quickly approaching, its that time of year where we begin ramping up for the LAGERS Annual Meeting.
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.
You may be wondering why a LAGERS blog would focus on Developmental Disability Awareness. As all of us at LAGERS know, our members are exceptional people. They are "Salt of the Earth" people, people who make our communities flourish and shine. And among our member employers are "Senate Bill 40" agencies. Senate Bill 40 employers, named after the Senate Bill that established them, provide for the employment, residential, and related service needs for people with developmental disabilities in Missouri. LAGERS members who are employed by SB 40 employers are made up of social workers, case workers, administrators and others whose primary focus is to assist people with developmental disabilities in meeting their needs so they can gain more independence and inclusion within their communities. Not only are our Senate Bill 40 employees special to us and our communities, but so are the people they serve within our communities.
Local government service is not for everyone. It takes employees and officials who are willing to invest time in their community and deeply care about building quality of life. There are so many areas of life that local government touches – from streets to sewers, schools to streams, youth programs to public safety, community art to secure online services– the people who serve must invest time to learn about and address a wide variety of issues, all to make their community stronger.
It's almost Valentine's Day, and we thought it would be fitting to re-post one of our favorite blogs from 2015 by Elizabeth Althoff, "5 Reasons to Love Your LAGERS Benefit." There are so many reasons to love a secure retirement, and LAGERS checks all the boxes. So while you're thinking of candy and flowers and heaarts, now that LAGERS is thinking about your financial future.
“I think ethics is the most exciting topic in the world to talk about,” said no one ever.
I know people who actually cringe when they discover a seminar or conference they will be attending has a session on ethics. Some professions require training in ethics—for example, those of us with a CPA license must obtain a whopping two hours of ethics training per year. (Thank you Enron, Arthur Anderson, etc…)
Tagged Strategy, Goals, secure retirement, Secure, Security, Retirement Security, retirement planning, Retirement, pensions, Members, Getting it Right, Defined Benefit, Defending Pensions, compliance, ethics
Did you know that every person living in Missouri benefits from the LAGERS system? How can that be, you might ask? While not every Missourian is actually drawing a benefit from LAGERS, the economic benefits produced by retirees spending their benefits, ripple throughout Missouri’s economy. This retiree spending produces major economic impact that affects each and every person living in our great state!