Back By Popular Demand:  The Extra LAGERS Benefit You May Not Know You Have

When you think about your LAGERS benefit, probably the first words that come to mind are ‘retirement benefit.’ After all, Retirement System is in our name. But don’t forget that there is more to your benefit than the name may suggest; LAGERS also provides our members with disability and survivor’s benefits.

Don’t think your employer elected these benefits? Think again. Every LAGERS member is automatically covered by both disability and survivor’s benefits. Here’s what you need to know about this important benefit:

Tagged disability, Disability Benefits, retirement planning

From Our Members: I Sent My Retirement Application, Now What?

A member recently emailed the following: "I downloaded the Application for Retirement. I will fill it out and send it in, but is there anything else I need to do at this time?"

Luckily, the process for retirement at LAGERS is simple. The member is right in that the first step is to download, complete, and return the Application for Retirement 30 -90 days prior to when you want to receive your first benefit payment. However, you should be aware you can apply online through your myLAGERS account. You do not have to use a paper form or standard mail.

Tagged myLAGERS, Payout Options, Retirement Options, retirement planning, Retirement Application, apply for retirement, Retirement, Retire

VIDEO: HOW MUCH WILL I GET FROM LAGERS?

 

Tagged Final Average Salary, Retirement Benefits, retirement planning

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 compliance, Defending Pensions, Defined Benefit, Getting it Right, Members, pensions, Retirement, retirement planning, Retirement Security, Secure, secure retirement, Security, Strategy, Goals, ethics

When Can I Retire?

When will YOU be able to retire? This is often the first question many of our LAGERS members have for us. Determining when the best time to retire may be for you is a big decision. There are different answers for different types of LAGERS members:

Tagged firefighter, police, Retirement, retirement age, Retirement Options, retirement planning, Retirement Security, secure retirement, Financial security, rule of 80, early retirement, public safety

5 Retirement Blind Spots Boomers Need to watch for

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Photo by Thomas Hafeneth on Unsplash

 

The Transamerica Center for Retirement Studies recently wrapped up its annual retirement survey that measures employer and worker attitudes towards retirement. The results of this survey provide interesting insight about how three generations participating in the workforce (Millennials, Generation X, and the Baby Boomers) view retirement.

There is no question that the Boomers (those born between 1946 - 1964) are not only transforming retirement, but society as a whole. Transamerica calls this generation the "trailblazers of the new retirement" because they have "re-written societal rules at every stage of their life." There is too much information to unpack the entire Transamerica survey in this blog, so we will focus on the Boomers and some of their retirement blindspots they need to address as they approach retirement.

If you are a Boomer, you will want to keep reading.

Tagged Baby Boomers, Pre-Retirement Seminars, retirement planning

June Article Roundup

Tagged News, cyber security, Employers, financial advisors, Members, Prospective Members, Retirees, Retirement, retirement planning, Savings

Back By Popular Demand: What's the Best Payment Option?

LAGERS offers several retirement payment options for you at retirement. And, believe it or not, there is not one option that is better than the other. In fact, the payment options themselves are designed to ultimately pay the same total amount to you or your beneficiary once both of you have passed away. That fact does not really help you make the decision as to which payment options you will choose. Because, while there is no better option than the other, there is an option that may better fit your needs in retirement. Here are some things you should be thinking about when determining which payment option you will choose.

Tagged Members, Retirement, Retirement Options, retirement planning, Retirement Security, secure retirement

Single? You Have Options at Retirement!

When presenting at a Pre-Retirement Seminar, many of the attendees ask me questions about what their spouse will receive from LAGERS once they pass away. There are a couple of options that married members may choose at the time of retirement that will pay to their spouse upon their death. Read this blog for more information about spousal options.  On the other hand, I do get some questions from single members wondering if they have any options. Don’t worry; even if you’re single, you have some options with your retirement benefit.

Tagged Employers, Members, Retirement Options, retirement planning, secure retirement, Single

Decoding your Member Annual Statement

 

 

Very soon, you will be receiving your Member Annual Statement. While this piece of paper may not seem like much, it is a beneficial tool in your retirement planning arsenal. As you may know, your LAGERS retirement benefit will provide you with a secure stream of income when you retire. Coupled with your own personal savings, Social Security, and other sources of income, your LAGERS benefit will help you achieve financial independence when you decide to retire in the future. So, one of the first things that your annual statement may help you do is plan your retirement saving efforts by you knowing how much to expect from your LAGERS benefit.

Tagged Members, Retirement, retirement planning, secure retirement, Security

Contact LAGERS

1-800-447-4334
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