In late March, Missouri LAGERS mailed all active members their Member Annual Statement with the 2025 Member Resource newsletter. Your Member Annual Statement provides a comprehensive look at your individual retirement benefit as of Dec. 31, 2024.
Statements include information used to calculate your future benefit, including:
- Earned benefit: This is the future benefit you’ve earned up to the end of 2024 and reflects the benefit you would receive if you stopped working today.
- Designated beneficiaries: This shows the beneficiaries you’ve chosen to receive your member contributions should you pass away and no monthly benefit is payable. It’s important to keep this list updated to ensure that your benefit is allocated according to your wishes.
- Vested status: If you’re vested with LAGERS, it means you qualify for a future retirement benefit. Once vested, you are guaranteed a lifetime monthly benefit. You become vested once you earn 60 months of service credit in LAGERS. You can become vested with more than one LAGERS employer.
- Projected benefits: This is an estimate of the benefit you could earn if you continue working until you’re eligible for retirement. This is a great tool to help you plan for your financial future.
- Earnings record: This is a summary of the past ten years of your reported wages, which directly influence your retirement benefit calculation.
- Member contribution balance: This lists any personal contributions your employer requires you to make to fund your future benefit. Some employers cover 100% of retirement contributions.
Members are encouraged to carefully review their statements for accuracy. If you spot any discrepancies or have not received your statement, contact your employer or reach out to the LAGERS office at 800-447-4334.
For more information and to access additional tools and resources, visit molagers.org.
