Jeff Pabst, CRC
We are working towards completing our Comprehensive and Popular Annual Financial Reports to give you a complete picture of the current financial status of your LAGERS retirement system. In the mean time, here are some quick updates.
As of June 30, 2019, LAGERS portfolio produced a 7.1% gain. This number is not audited and may be subject to adjustment after auditing.
As of June 30, 2019, LAGERS portfolio produced a 7.1% gain. This number is not audited and may be subject to adjustment after auditing.
With our strong investment performance and dedication of our employer making their required contributions, LAGERS remains on strong ground with a 94.9% pre-funded percentage.
This year was an extraordinary year for the number of employers LAGERS added. Typically, LAGERS adds on average 15 employers per year. However, this year, because of legislation passed in 2017, the system added significantly more employers than average.
As the baby boomer generation continues to retire, LAGERS’ number of retirees and beneficiaries continues to climb. Of course, this is expected. By design, your benefits are pre-funded throughout your working career so that the funds necessary to pay your lifetime monthly benefit are already in place.
Keep an eye out in the coming month for our comprehensive and popular annual financial reports.
