Some Good Financial Reading Here...

LAGERS provides you with a piece of financial security through secure income when you leave the workforce. However, LAGERS is not designed to be your only source of income when you are no longer working. Instead, it is designed to be one secure source. Some keys to achieving financial independence is your ability to accumulate savings and minimize debt. So, here are a few articles I found that do a good job of explaining the need for savings,

Tagged retirement planning, Savings, Value of pensions

Back by Popular Demand - The City of Webster Groves switched to LAGERS

 

For America Saves Week, we're bringing back the story of the City of Webster Groves and how they found that a defined benefit pension plan was the best option for their employees to securely save for retirement. The City wanted to ensure that their employees had the best opportunity to achieve a secure retirement that could be provided. In turn, the employees benefited from the security of a defined benefit plan, and the City could remain competitive in order to recruit and retain the best crop of public servants for the community. Read Joan's account of how they came to the conclusion that LAGERS provided the best value for the employees of Webster Groves.

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

Don't thank LAGERS. Thank your employer.

Photo by Simon Maage on Unsplash

 

It's always nice to be thanked for a job well done. Everyone needs an "atta boy" once in awhile. And the team at LAGERS is no exception. We love when our members send appreciation our way for protecting their retirement money.

Tagged secure retirement, Security, Value of pensions, Retirement, Retire

How LAGERS Stacks Up to Other U.S. Pension Plans

Photo by Mathieu Turle on Unsplash

 

LAGERS' Executive Director and I attended the annual conference of the National Association of State Retirement Administrators (NASRA) last week. This conference gathers together the leaders of the largest public pension plans in America. Attending allows us to hear ideas about how to better serve our members and gain insight into best practices in the retirement industry.

Tagged Pre-Funding, Value of pensions, Pension Health, Retirement plans, Sound Funding, governance

Proof That Pensions Are Sustainable For Missouri's Local Governments

Photo by Fabian Blank on Unsplash
  • About half of Americans age 55 and older have nothing saved for retirement. However, 20% of these do have access to a defined benefit pension plan.
  • Defined benefit pensions are the preferred retirement plan for state and local government employers.
  • 39 employers have chosen LAGERS defined benefit plan for their employees within the last year. Almost all switched from a 401(k)-type plan.
  • Defined benefit plans, like LAGERS, help government employers attract and retain good workers to serve the community.

 

Tagged 401(k), pensions, Security, Value of pensions, Retirement, Retire, Local Government, Missouri

Sharing the Good News about LAGERS

Tagged Legislation, Value of pensions, Policy, income replacement, issues & policy

In Case You Missed It - Our Latest Facebook Live

In honor of America Saves Week we held another Facebook Live event this past Monday. Jeff Pabst, LAGERS' Education and Outreach Coordinator, discussed the value of LAGERS benefits in our latest installment.

Tagged Retirement Benefits, Retirement Options, Value of pensions, Retirement, Retire

New Research: Pensions Produce Positive Economic Impact in Missouri

 

A new study by the National Institute on Retirement Security (NIRS) shows that income retirees receive from public pension plans, like LAGERS, produce positive economic impacts across the nation. The study, using 2016 data, reports public pensions are responsible for $1.2 trillion in total economic output in the U.S. and added $202.6 billion in government revenue from retiree income taxes and spending.

Learn More About Pensions

 

Tagged Economic Impact, National Institute on Retirement Security, pensions, Value of pensions, Advocacy

$286 Million: That's How Much LAGERS Paid to Missouri Residents Last Year

DOWNLOAD THE 2018  ECONOMIC IMPACT REPORT

 

The recently released 2018 Economic Impact Report from Missouri LAGERS shows the pension fund paid $308 million to retired local government workers and their loved ones last year with ninety-three cents of every dollar ($286 million) staying in Missouri.

Tagged Economic Impact, pensions, Value of pensions, Missouri

If Your Employer Provides a Retirement Plan, You're in the Minority

 

A recent article in Forbes, Workplace Retirement Coverage Drops And The System Continues To Fail, by Teresa Ghilarducci, provides some sobering statistics about retirement preparedness for Americans. It is no surprise Americans who have access to a retirement plan at work will be better prepared for retirement than those without a plan. However, according to Ghilarducci, only 40% of workers in the U.S. are covered by a retirement offered by their employer. This is a 4% decrease since 2014 and this number has declined in 14 of the 17 years since 2000.

Tagged congress, secure retirement, three legged stool, Value of pensions, Retirement plans, Public service, Retirement, Retire

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