For over 50 years, Missouri LAGERS has helped middle class workers transition into middle class retirees. Dependable monthly income is essential for people to exit the workforce with dignity and helps them maintain their standard of living throughout retirement.
LAGERS exists to offer peace of mind to Missouri’s local government workers by providing protected retirement, disability and survivor benefits. We work hard to ensure our members’ hard-earned money is secure so they can concentrate on serving their communities.
We all want to live in communities that are safe, stable and vibrant. This means we need to create towns with solid infrastructure, responsive public safety, great schools, good parks, and successful businesses. Much of the work to produce such an environment is the responsibility of local government workers.
Dedicated, well-trained and experienced local government workers make our communities stronger and safer.
The purpose of a retirement plan is to attract high quality workers, retain those workers during their most productive years, and then allow those workers the means to exit the workforce with dignity. This creates steady and predictable movement within the workforce so employers can make better personnel decisions and employees are motivated by opportunities for advancement.
Assets held by LAGERS are invested by professionals to earn the best possible return for our members. Investing funds as an individual is difficult because of all the variables, the complexity of the markets and the individual’s available resources. Even with these daunting pressures, most employers in the private sector have moved away from pensions in favor of 401(k) plans that force workers to navigate the investment world on their own.
Nearly eight out of ten Americans agree that the disappearance of pensions makes it harder to achieve the American Dream because the average worker cannot save enough on their own. Low-to-middle income workers are affected the most because they don’t have the means to set aside enough to support themselves during retirement. In fact, high income families are 10 times more likely to have retirement savings as low-income families.
We believe in the three legged stool approach to retirement security where the legs of the stool represent income from a pension, Social Security, and personal savings. As long as the stool has three legs it will be strong enough to support the person sitting on it. Take one of those legs away, and the stool becomes much less stable. LAGERS offers modest benefits that are designed to be combined with other sources of retirement income. This is the best way to achieve retirement security for all.
Our benefits are based on an employee’s length of service and salary to create monthly retirement income that is a direct reflection of the employee’s career.