As part of LAGERS’ ongoing efforts to improve our customer experience, we are excited to announce that you will soon be able to update 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.
If you haven’t retired yet, what does this change mean for you?
When you retire in the future, you’ll be able to set up or change the account where your benefit is deposited directly through your myLAGERS account. Right now, this process requires a paper form that must be completed at your bank and mailed 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 you need to do anything?
No action is required right now. But when you apply for retirement, this new feature will be available in the future if you ever need to update your banking information. 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 today and in the future.
