There Are Two Paths To Retirement, Find Out Which One You Will Take.

Photo by Jens Lelie on Unsplash

 

There are two paths to retirement, the traditional path and the non-traditional path. The traditional path is the one where you work your entire career and decide to retire to a life of leisure with no plans for a future job of any sort. The non-traditional path is a more of a gentle downward slope rather than a cliff into retirement. It is characterized by continuing some type of paid employment and gradually easing into the life of leisure when you sever ties with all employment for good. Which path will you take? If you're like most Americans, you will take the non-traditional path.

Tagged Finances, Millennials, Planning, Re-employment, secure retirement, Retirement, Retire

Help Your Future You: Set a Budget & Stick To It

When planning for your financial future, there are many different factors that you must consider to ensure you can achieve financial independence. I am constantly thinking about retirement, of course, because I work for a retirement system. But, for Millennials like me, we have a hard time thinking about retirement because it’s 20 or more years away. So, how do we set ourselves up to ensure we can reach a point in our life where we can do what we want, when we want to? Here’s idea to get you started, set a budget and stick to it.

Tagged Financial security, Retirement, Retire, Budget

Why the City of Webster Groves Switched from a Defined Contribution Plan to a Defined Benefit Plan

In 2013, the City of Webster Groves joined the Missouri Local Government Employees Retirement System (LAGERS), a statewide public defined benefit retirement plan covering local government workers from all across Missouri. This is our story of why and how we made this giant leap forward in providing retirement benefits to our employees, and, we believe, in ultimately enhancing service to our citizens.

Tagged Defined Contribution, Retirement Security, value of local government, Value of pensions, Retirement, Retire, cities, Local Government, Missouri

LAGERS' Latest Performance Update

Recently I asked Brian Collett, our CIO, to give me an update on our most recent investment numbers. He shared lots of information with me on our most recent numbers, but also talked about our Asset study that we just completed, and how that shapes our investment strategy.

Tagged Investment Return, Investments, Contribution Rates, Investments; Return; LAGERS Portfolio, Pension Health, LAGERS performance, Quarterly Update, Retirement, Retire, inflation, stock market, equities, Brian Collett, Sound Funding, Asset Study

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

Did you know LAGERS will come to you?

Our guest blogger Katie Hunze from Jefferson County explains what is involved in a LAGERS on-site Pre-Retirement Seminar and how they can help employees understand their benefit.

Jefferson County hosted its first Pre-Retirement Seminar in April; open to all our employees. We were pleased to have 95 employees for our first attempt. Our vision is to ensure that whether retirement is five years or twenty-five years away, all employees should have a solid understanding of what they’re working towards every single day. We appreciate and value all of our public servants and want them to be able to enjoy the retirement that they have worked so hard for! Retirement benefits are covered during our new hire orientation but that can be somewhat overwhelming and this seminar allowed us to focus on the specific topic of retirement.

Tagged Pre-Retirement Seminars, Retirement Benefits, Retirement Security, secure retirement, Retirement, Retire, Local Government

5 Most Common Questions About Your Benefit - Our First Facebook LIVE

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.

Tagged contributory, eligibility, LAGERS, myLAGERS, purchasing service, Retirement, Retirement Benefits, Retirement Options, Retirement, Retire, rule of 80, Facebook

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, pensions, Retirement, Value of pensions, Financial security, Retirement, Retire, Local Government

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

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

Contact LAGERS

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