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

Visit 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, Value of pensions, pensions, Economic Impact, Taxpayers

Another Strong Quarter for LAGERS

About a week ago, I spoke with LAGERS leadership about the financial progress of the LAGERS system. I am happy to report that LAGERS continues to be a financial strong system for its members.

Tagged Pension Health, pensions, Pre-Funding, Bob Wilson, Brian Collett

Everything you wanted to know about pensions but were afraid to ask

Defined benefits.

Funding levels.

Investments.

Contributions.

Economic Impact.

Any of this making sense yet?

Tagged Economic Impact, Local Government, Retirement, Retire, Financial security, Value of pensions, Retirement, pensions

A Great Source of Truth about Pensions: ShowMeSecurity

About a year ago, I had a conversation with some of my friends about what I do for a living. When I told them I work for a public pension plan, their reaction was not quite what I expected. They began telling me pension plans are old fashioned and the best type of retirement plan was the 401(k). They all work in private industry and are seeing fewer private employers provide pension plans. So, their assumption is, of course, the 401(k) is better.

Tagged pensions, Value of pensions

Built-in Flexibility Gives LAGERS' Employers Options

Photo by rawpixel.com on Unsplash

 

Flexibility may not be a word you often hear associated with public pension plans. These plans are typically created by state or local policymakers, and changes to the plan structure are sometimes difficult and time-consuming. This is OK for many public pension plans because they cover workers with similar characteristics. It is common, for example, for all teachers covered by a pension plan to have the same retirement benefits regardless of the school district that employs them. All employees have the same benefits; the school districts and employees share in the cost of benefits; and all pay the same amount for those benefits.

Tagged Goals, Retirement, Retire, Retirement plans, three legged stool, secure retirement, Recruiting, Plan Design, pensions

Covet vs. Begrudge

 

Let’s think about these two words for a moment…”covet” (to yearn to possess or have something) vs. “begrudge” (to envy or resent the good fortune of someone, to be unhappy or upset because someone has something you think they do not deserve).

Tagged Retirement, Retire, Retirement plans, Financial security, Pension Health, Value of pensions, Retirement Security, pensions

Closing a Pension Plan Does Not Eliminate Liabilities

 

Since the Great Recession in 2008, warnings of an impending pension crisis have been splashed across the business pages of newspapers across the country. Despite these boisterous decrees, America’s public pension funds are stable. We explore the roots behind the false pension crisis narrative and examine the facts.

Tagged Pension Health, Value of pensions, Retirement Security, reform, pensions, pension reform

LAGERS Member Rosalie Spencer on 50 Years with Rolla Municipal Utilities - "It's Been an Honor to Serve Rolla."

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.

Tagged Retirement, Retire, Financial security, Security, secure retirement, Secure, Retirement Security, Retirement Benefits, Retirement, retiree, pensions, LAGERS

GOT ETHICS?

“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

Back By Popular Demand - What to Expect During Your First Year in Retirement

"Your first year in retirement is a little like starting a new job, only without all the work.  But still, it involves establishing a routine, figuring out when your money will come in, building new relationships, and feeling excited about the future.  Starting a new job means dealing with a lot of unknowns, and beginning a new chapter in life as big as retirement is no different.  Here is what you can expect from LAGERS during your first year."

Tagged Retirement, Retirees, pensions

Contact LAGERS

1-800-447-4334
M-F: 8:00 a.m. - 5:00 p.m.