As part of LAGERS’ ongoing efforts to improve our customer experience, we are excited to announce that you will soon be able to update your banking information on your myLAGERS account – no more inconvenient trips to the bank or waiting for a paper form to be processed.
Most LAGERS retirees receive their monthly benefit payments via direct deposit. Direct deposit is an electronic transfer of your benefit directly into your bank account. It’s a fast, secure, and convenient way to receive your payment without having to wait for your check to arrive in the mail and make a trip to the bank to deposit it.
What does this change mean for me?
If you need to set up or change the account in which your LAGERS benefit is deposited, you will soon be able to do so directly on myLAGERS. Currently, this can only be done with a paper form that you have to take to your bank and then mail to LAGERS.
Why is this change happening now?
Getting a paper form signed at the bank is a hassle. As LAGERS has made enhancements to your online myLAGERS security, we are now able to offer this feature as a secure, convenient way to update your financial information in just a few clicks.
Do I need to do anything?
No! This new feature will be available in the future if you ever need to update your banking information, but no action is required today. New retirees will also benefit from this feature if they apply for retirement on myLAGERS and are setting up their banking information for the first time. No more paper forms, no more trips to the bank, no more hassle.
LAGERS is excited to offer this new feature to make managing your retirement even easier. It’s just one of many improvements we’re making to better serve you.
