What Financial Independence Means to Me

 

 

Tagged Financial security, Security, secure retirement, pensions

Back By Popular Demand - The Significance of Your LAGERS COLA Benefit is Larger Than You Think . . .

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.

Tagged COLA, Defined Benefit, Funding, Members, Retirees, Retirement, Security

Your Personal Data Security…Priceless

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Tagged Security, cyber security, personal information

Bob's Notes from NASRA

I recently attended the National Association of State Retirement Administrators annual training conference. It’s very helpful to get together with peers and share successes and what’s working best with others across the country. It serves both as an affirmation of some things we’re doing very well and an inspiration of other practices we can employ to be even better. (At this point I’m sure you’re thinking, “Wow, I bet THAT’S a giant gathering of retirement nerds...and you would be right. But we're hard working, caring nerds, so it’s all good.) My desk now includes 4 pages of notes ranging from cybersecurity ideas for discussion, team/leadership development, to membership surveys. The information is only as good as the user, so my task is to explore each item to see how it might make our system even better.

Tagged Risk, risk assesment, NASRA, Security

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

Back by Popular Demand - 5 Reasons to Love Your LAGERS Benefit

Untitled design-305412-edited.pngIt'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.

Tagged COLA, Disability Benefits, disability, Employers, Members, Prospective Members, Retirees, secure retirement, Security, Survivors Benefits, Public service, inflation

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

The Goal is "Better"

Photo by Garrhet Sampson on Unsplash

Goals are important. Every person and organization should set goals so they are constantly seeking to get better. This time of year people are thinking about their goals; some refer to these as New Year's Resolutions. It's a time to reset, recharge and prepare to run head first back into the fire of life.

Tagged Strategy, Goals, Funding, Service, Security

Pension Reform Should Not Focus On All-Or-None Solutions

Tagged Employers, Members, pension reform, Prospective Members, reform, Retirees, Security, three legged stool, Unfunded Liability

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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