A recent report published by the U.S. Government Accountability Office (GAO) concludes that retirement security for Americans is on shaky ground and recommends Congress do something about it.
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!
At times, when employers are considering joining the LAGERS system, they are choosing to switch from their standalone defined contribution plan to a defined benefit plan with LAGERS. These employers are making the choice to give their employees the ability to earn and receive secure monthly income from LAGERS when they retire. As well, they are setting a plan in place designed to recruit and retain quality workers while providing dedicated employees a path to retirement security. When employers are thinking about making the switch, there are few things they need to know.
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.