Your Annual Statement is an excellent financial planning tool at your disposal. It includes your current benefit as of December 31st, your projected benefit amount if you work until your retirement eligibility, your beneficiary information, account balance (if any), and wages used to calculate your benefit. See a sample Member Annual Statement with a brief explanations of the information in each section here.
If you’ve ever read an article, watched a news story, or even heard a friend talk about the problems with pension in the United States, you’re not alone. And while there are certainly plans out there that need to be looked at, this overwhelmingly negative news coverage can sometimes distort reality when it comes to the state of public pension plans, and this distortion has consequences. If the public sees pensions as inherently broken, these opinions filter into our public policy decisions about retirement, while at the same time missing the fact there are plenty of really well-structured, financially stable plans out there that provide an invaluable workforce management tool for public employers in our state.
LAGERS is a shining example of all the things that can go right with a public pension plan. At 95.6% pre-funded, LAGERS is a fiscally strong system. Our employers believe LAGERS is a good investment for their organization because it provides a tool that helps attract and retain the highest quality public servants in our local communities. And our local communities- the ultimate benefactor of LAGERS- enjoy the quality public services that taxpayers expect, and an economic boost from the predictable income LAGERS provides our retirees.
It is our job to share this great story with our policy makers, but to do this, we need your help. Your voice is powerful, and you can help ensure the future of retirement security in Missouri! Learn about a few great ways you can get involved. Read more here.
There are two paths to financial security, the traditional path and the non-traditional path. The traditional path is the one where you work your entire career and decide to retire to a life of leisure with no plans for a future job of any sort. The non-traditional
path is a more of a gentle downward slope rather than a cliff into retirement. It is characterized by continuing some type of paid employment and gradually easing into the life of leisure when you sever ties with all employment for good. Which path will
you take? If you’re like most Americans, you will take the nontraditional path. Read more about your path here.
A member recently emailed the following question: I am currently a vested member and am possibly getting ready to change jobs to an employer that does not have Lagers. I want to keep my Lagers because I am a vested member, how do I do that? Learn how to do this and more here.