Category Archives: Employers

There are still some people out there fighting for pensions

Photo by Ryan Tang on Unsplash

I recently attended a meeting of pension advocates from across the country where I had the privilege of presenting on communicating the value of public service. The big takeaway from this meeting: there are still people out there fighting for pensions.

The people I met are passionate about the necessity of pension plans and strongly believe – as I do – that pensions are the most efficient way to promote retirement security for all people. I was refreshed and energized to be surrounded by so many like-minded people and incredibly pleased to find that there are others who are willing to stand up for this very worthy cause.

As wonderful as it is to know there are other willing participants, we need more warriors in this fight. There is a well-funded machine operating in state capitals across the country that want to eliminate pensions in favor of unreliable 401(k) plans. We are going to need more people on the front lines if we are to turn the tides in this battle.

If you want to help, I would encourage you to sign up for LAGERS’ e-mail list so you keep up-to-date on what’s going on in Missouri in regards to pensions. Also, check out what the National Public Pension Coalition is doing to help in this struggle.

This is a worthy cause, one in which we can prevail with the right approach and increased number of people willing to speak up.

 

Jeff Kempker
Asst. Executive Director,
Member Services

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The Webster Groves Experience

LAGERS loves storytelling.

We tell stories about our members, our retirees, our administrators and pretty much anyone we can find relating to the value of local government service and what it means to our communities.

One recent story we thought would be of interest to our readers is what the experience is like for an employer considering changing retirement benefits for its employers, specifically, from a defined contribution plan to a defined benefit plan like LAGERS. The city of Webster Groves invited us to come to their beautiful town, interview some folks, and tell their story. It’s a story of attracting and retaining highly skilled workers, financial security, and a secure retirement for the city’s employees.

Watch the video here.

If you’d like more information on this topic, visit our website, here.

 

 

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June Article Roundup

What To Do When You Haven’t Saved Enough For Retirement

The good news is that a portion of your retirement income will be covered by protected, monthly, lifetime payments you earned from your LAGERS service. The bad news is that your LAGERS benefit likely won’t be enough to produce the lifestyle you want in retirement. This article gives some helpful tips on catching up on retirement savings.

Read the article here.

 

Here’s how thieves use your data after a breach

Hearing LAGERS IT guy talk about all of the cyber security threats we face today is enough to make you never want to use the internet again. This article breaks down how cyber criminals use your information if they are able to hack into an online database and how to protect yourself against these threats.

Read the article here.

 

How to Spot the Lies Financial Advisors Tell

I am a huge proponent of seeking financial advice to help you navigate retirement savings and other investments. However, I am just as passionate about warning people to be very careful on who they choose as their financial advisor. This article will give you some ammo for selecting and advisor or to identify when you’re current advisor is not working in your best interest.

Read the article here.

 

Jeff Kempker
Asst. Director, Member Services

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MY LAGERS EXPERIENCE: A Reflection on Three Remarkable Decades

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Keith Hughes, Executive Director

Wow, I find myself repeating a question that I’ve heard uttered countless times at Pre-Retirement Seminars during my career: “Where did the last 30 years go?”

In the summer of 1987, I became the first Comptroller of the LAGERS system. Just like many of you, I was recruited because of an existing skillset I obtained through previous employment. Having worked at the Missouri State Auditor’s Office and Joint Committee on Public Employee Retirement, I felt well prepared to handle the task.

“Where did the last 30 years go?”

After two short years with LAGERS, my responsibilities dramatically changed when I was promoted to Assistant Executive Secretary/Comptroller. This fortuitous move forever changed my view of retirement. For it was in this position that I begin meeting with government employees with similar interest of mine. They simply wanted to go to work daily, provide superior services to their employer, and create a better community for their families. In this role, I regularly met with members of the system in an effort to identify and secure monthly pension benefits. At the time, I was not prepared for this position, which included frequent public speaking, but knew that 22,000 members were depending on the staff of eight to meet their financial retirement goals.

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Keith being a good sport accepting his caricature from LAGERS’ Board Chairman, Arby Todd, at Keith’s retirement celebration.

In pursuit of further pension education, I came to the realization that LAGERS’ benefit structure, investment allocation, and member service design was superior to many other public pension plans across America. LAGERS has always been promoted as meeting one of three financial legs of a retirement solution; with the other two supporting legs being Social Security and personal savings. When I view these three sources of retirement income, clearly LAGERS is BEST positioned to deliver benefits for the long-term.

The LAGERS Board of Trustees has done an excellent job of ‘right-sizing’ the solution for the membership. In the 1980’s many of the services provided for the membership were completed through third party vendors. As the system has grown in size and complexity, many of these same services have been absorbed by LAGERS professional staff. As indicated by the system Mission Statement, the Board and staff are always seeking the most efficient and economical solution available. An example of the changing technology was the implementation of the LAGERS web portal ‘ECLIPSE’ which provides access to LAGERS employers and member data, 24 hours a day/ 7 days a week. This is a dramatic change from the monthly paper reporting of the 1980’s.

“It has truly been my privilege to serve the LAGERS membership for the last thirty years.”

In the winter of 2010, I was named the fifth Director of LAGERS. With a little over 40 years in existence, LAGERS had grown to be the third largest public pension plan in Missouri and the largest system serving local government. In an effort to extend LAGERS efficiencies to local governments, legislation was recently adopted permitting LAGERS administration of closed local pension plans. This optional program may relieve local governments of the daily burden of pension administration while leaving the task to LAGERS professional administration. This legislation is a “game changer” for local governments struggling to meet their fiduciary responsibility in managing local administered pension plans. Again, another fine example of the extension of pension services for local governments in Missouri.

LAGERS Board and staff continually focus on delivering superior service to the LAGERS membership. In 2015, LAGERS was named the “Public Plan Sponsor of the Year – Defined Benefit Category” by Plansponsor Magazine. This award was a further confirmation that LAGERS was “Getting it Right” for the membership. In addition, LAGERS has now received the GFOA ‘Certificate of Achievement for Excellence in Financial Reporting’ for 39 consecutive years. These two awards further support LAGERS meeting the membership needs and full reporting transparency. I am extremely proud of these two awards as they reflect the professionalism of the LAGERS staff I have the privilege to work with each and every day.

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LAGERS received the 2015 Plan Sponsor of the Year award.

In reflection, there has been one consistency in my LAGERS experience. That one consistency is that each and every action taken by the Board of Trustees and staff is to deliver superior service in the most economical manner. A very simple pursuit, but one worth the effort for the 700 employers and 62,000 plus members served today.

It has truly been my privilege to serve the LAGERS membership for the last thirty years. The system continues moving forward with a strong governance structure led by the Board of Trustees and professional staff. And now at the 50th Anniversary of the system, LAGERS is identified as one of the ‘premier public pension plans’ in America.

 

 

 

It’s Official: The U.S. Retirement Crisis is Real

 

I have been aware of the retirement crisis in America for a while now. There are new articles published every week about Americans’ lack of savings, lack of access to retirement plans, and lack of financial knowledge. Combine that with the fact that defined benefit pension plans have all but been extinguished in the private sector, and anyone can see how this is going to turn out. Every once in while there is an article that claims the retirement is crisis is overblown, a farce, a fairy tale, like unicorns and bigfoot. But these articles are few and far between. There is little evidence that suggests we are all going to be OK and there are mountains of facts that say otherwise.

If there was ever, even more, reason to be concerned about the state of retirement security in America, there is a new report from the National Institute on Retirement Security (NIRS), Retirement Security 2017: A Roadmap for Policy Makers, that proves Americans are concerned and aware of the pending retirement bubble. I recently attended NIRS’ Retirement Policy Conference in Washington, D.C. where this study was released along with several presentations by experts all confirming that we are heading for crash if we don’t do something soon. Here are some of the takeaways from the report and the meeting.

“A secure retirement system is the key to economic security.”

 

Americans Agree There is a Problem

NIRS’ research finds that 76 percent of Americans are concerned about economic conditions affecting their ability to achieve a secure retirement and 88 percent agree that the U.S. is facing a retirement crisis. So it seems Americans are aware of the problem, but what about our elected officials? One of the speakers at the conference, U.S. Congressman Joseph Crowley (D-New York), is very aware of the retirement crisis and is taking steps to fix it. He said, “The American Dream is increasingly being put at risk,” and “A sound retirement system is the key to economic security.” However, Congressman Crowley noted during his remarks how hard it is to get his colleagues to pay attention to this issue. That is a sentiment that Americans share, based on NIRS study:

  • 85% says leaders in Washington do not understand how hard it is to prepare for retirement.
  • 86% say leaders in Washington need to give higher priority to ensuring Americans have a secure retirement.
  • 82% say government should make it easier for employers to offer pensions.

 

Americans Like Pensions

The NIRS study confirmed that Americans prefer pensions over 401(k)-type plans. Some 71 percent of Americans say that pensions do more to help workers achieve a secure retirement as compared to 401(k) plans and 85 percent say all workers should have access to a pension plan. The survey also found that 92 percent of Americans agree that pensions help recruit and retain good public sector workers to serve the citizens. “The public clearly supports retirement income for everybody,” Keith Brainard, Research Director for the National Association of State Retirement Administrators, said during the conference.

 

Most Americans Can’t Achieve Retirement Security on Their Own

National Institute on Retirement Security

The shift away from pensions in the private sector has forced workers to save for their retirement on their own. The problem with this is that the average American worker is not equipped to know how much to save, what to invest in, when to reallocate, and how to turn a retirement nest egg into lifetime income. Brian Perlman, the Senior Vice President, Financial Services Practice Lead at Greenwald and Associates, a full-service market research firm in Washington, D.C. said, “You can’t do it yourself. People cannot succeed [in retirement] on their own.” American workers agree, as the NIRS study found eight-out-of-ten Americans believe the average worker cannot save enough on their own to achieve a secure retirement and nine-out-of-ten say retirees don’t know enough about managing investments to make their savings last.

“You can’t do it yourself. People cannot succeed in retirement on their own.”

 

Americans Need Greater Access to Retirement Saving Vehicles

“People are more likely to save if you can do it through work,” said Gerri Madrid-Davis of AARP. Fifteen times more likely, in fact. The problem is that only about half of U.S. private-sector workers have access to a retirement plan provided by their employer and many workers that do have access choose not to save. Some states have tried to tackle this issue by setting up state-run funds that workers can put money into when their employer does not provide a plan. These state retirement savings vehicles seem like a great solution! But there is a problem, the U.S. Congress recently voted to restrict states from creating these funds by striking down the rule that allows these programs.

 

Conclusion: Why Does LAGERS Care About Any of This?

LAGERS members have will have a secure retirement benefit. Our retirees can rely on predictable monthly income that increases with inflation. The overwhelming majority of public sector workers still have pensions and the state-run retirement savings debate does not affect LAGERS in any way. So why do we care? It’s simple, our vision statement is “a secure retirement for all.” We support any reasonable initiative that will help realize that vision. At LAGERS, we are relentlessly pursuing our vision by protecting our members’ assets so they have peace of mind knowing a portion of the monthly income needed to sustain themselves during retirement will be paid as expected. And since we believe strongly that a well-managed defined benefit plan is the best way to improve retirement security, the more people we can get into our plan, the better off we all will be. That is why we also strive to carry our message to local governments that have not yet chosen LAGERS to encourage them to see if our services are a good fit to help their communities prosper.

We know we will never be able to achieve a secure retirement for all; that is why it is the perfect vision statement. It means we will never stop. We will never be finished. There will always be more work to be done.

 

Jeff Kempker
Manager of Member Services

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A Look Back at the 2017 Legislative Session

As the dust begins to settle in Jefferson City, we close the book on another legislative session. Beginning full of optimism, there seemed to be very little standing in the way of a seamless legislative agenda this year. Right off the bat we saw several major landmark bills from Right to Work to Tort and Labor Reform, and then the machine came screeching to a halt. Some say the Governor’s office was bullying legislators, others say it was lack of Senate leadership; some say it was simply in-fighting between party factions. We may never really know. Whatever the source of dysfunction, we saw at times a painfully slow legislative grind. In the final weeks, the bodies slowly moved forward and we did see a few other legislative accomplishments. The legislature passed the budget, fully funded the education formula, passed Real ID, as well as the Blue Alert system.

On the pension side of things, we saw a bit less accomplished. The biggest area of focus for pensions this session was funding. We saw a great deal of discussion in appropriations committee devoted to funding of the State Employees retirement system (MOSERS).  The House originally drastically reduced the requested funding, which was eventually resorted in the Senate. Out of 44 Pension Bills that were filled this session, only 2 were Truly Agreed and Finally Passed. The first,  Senate Bill 62, was an omnibus pension bill that contained amendments, many of which were designed to address some sort of funding issue. LAGERS was not directly impacted by this bill. Senate Bill 34 was the second pension bill passed, but its language was also contained in the omnibus SB 62. This bill modified language related to felony pension forfeiture.

LAGERS did not sponsor any legislation this session, but was closely watching several bills. LAGERS Public Safety Language was again filed this year to give all employers the option to update the definition of public safety to include EMS and Jailers. Though not initiated by LAGERS, Representative Walker filed the language in HB 865. While there was no opposition, the bill failed to gain traction as focus this session quickly shifted to some of the more pressing funding issues. The language was successfully amended to SB 394 later in session and came very close to the finish line this year. Thank you to those who called in on the bill’s behalf in the final days, and as one of our advocates noted, the capitol was quite busy the last two days as everyone made their final legislative pushes. While the Public Safety language fell short, LAGERS was encouraged at the progress the bill made this session and will be retooling our strategy over the summer.

Another bill that would have impacted LAGERS was HB 933. It would have allowed metropolitan planning organizations to be considered eligible for LAGERS membership (mirroring the regional planning commission language that was passed several years ago). While LAGERS did not sponsor this language, the MPO group did reach out to LAGERS to ensure the language they were seeking met our approval. This bill did not make much noise in its first attempt and will likely reappear next session.

Don’t forget that our Legislative Committee meets every year at our Annual Meeting. This is a great forum for all members of our system to meet with the Board, Legislative Committee, and Staff and participate in an open forum about upcoming legislative issues and agenda of the system. Be sure to look for more information on that in coming months!

Legislative Quick Links:

Sign Up to Receive LAGERS Capitol Report

Visit the Joint Committee on Public Employee Retirement’s Webpage

View Summary of 2017 Pension Legislation

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Single? You Have Options at Retirement!

Diner, Senior, CoffeeWhen presenting at a Pre-Retirement Seminar, many of the attendees ask me questions about what their spouse will receive from LAGERS once they pass away. There are a couple of options that married members may choose at the time of retirement that will pay to their spouse upon their death. Read this blog for more information about spousal options.  On the other hand, I do get some questions from single members wondering if they have any options. Don’t worry; even if you’re single, you have some options with your retirement benefit.

The options a single individual has to choose from at retirement are the Life Allowance and Option C. Also, the Partial Lump Sum can be added to each of those options. So, which one do you choose? When determining which payment option to choose at retirement, you may want to consider a few items:

  • What are your fixed expenses in retirement?
  • Do you plan to travel or pursue a hobby that will have an impact on your expenses?
  • Will you have additional sources of income?
  • Are you planning to leave a legacy in the form of inheritance?

All things to consider when choosing your payment option.

Now, let’s explain your options as a single person.

Life Allowance. The Life Allowance is the largest monthly benefit you can receive in retirement. But, when you pass away, there is no monthly benefit payable to a beneficiary. The only instance where there is something payable under the Life Allowance is when you have a balance remaining. This balance can be from the 4% contributions made at any point in your career from which you did not receive a refund or funds used to purchase service (if applicable).

For example, if you have $20,000 in employee contributions, the first $20,000 you receive in your retirement benefit is your employee contributions. Since LAGERS pays out your employee contributions through your retirement benefit, if you pass away before the total of $20,000 has been paid out, your beneficiary will receive a lump sum of the remaining contributions.

Option C. This option is called the 10 Year Payment Certain plan on your benefit estimate. This  can be somewhat misleading because it makes it sound like you will only receive payments for 10 years. There is no option that you could choose under LAGERS that does not pay you for the rest of your life. Option C guarantees at least 120 payments are made to you or your beneficiary in retirement. Specifically, if you pass away within 120 months after retirement, your beneficiary will receive the remaining payments until a total of 120 payments have been made.

For example, if you elect Option C when you retire and pass away 96 months in to retirement, your beneficiary will receive the remaining 24 monthly payments. But, if you live more than 120 months after retirement and pass away, your beneficiary will receive nothing under Option C.

Partial Lump Sum Feature. This feature can be added to the two previous options listed above. It pays you a lump sum 90 days after retirement that is equal to 24 months of your Life Allowance benefit. This option can be a great way to get a large amount of money early in retirement that you could use for many different purposes like paying off your mortgage, leaving a legacy for your children and grandchildren, or many other purposes. Also, you can roll your Partial Lump Sum into a qualified retirement account to delay the up-front taxation, potentially grow the funds throughout retirement, and set the beneficiaries of that account to whomever you choose. Read more about the Partial Lump Sum in this blog post.

So, as you can see, even if you are single, you have some options as to what to do with your LAGERS benefit at retirement. To get an in-depth explanation of your options, attend a LAGERS Pre-Retirement Seminar or call the LAGERS office.

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Jeff Pabst, CRC Senior Communications Specialist

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Use These 5 Simple Hacks to Ease Financial Stress

 

April is Stress Awareness Month and we all know that finances are the root of much of the stress we face. If you haven’t ever lost a little sleep worrying about a money-related issue, I would question whether or not you had a pulse. It’s almost inevitable that, at some point, we all will have a financial difficulty that wears on our mind, and ultimately, maybe even our body.

Financial Finesse is a financial wellness firm that offers coaching to over 2.4 million people in the U.S. In the firm’s 2016 Financial Stress Research, they reported that 1 out of every 4 people say that they suffer from high or overwhelming financial stress and 6 out of 10 people reported losing sleep over at least one financial problem. The good news is that there are some fairly simple steps we can take to ease financial stress. Here are some that have worked for me.

Resist the consumerist culture we live in.

My wife and I just recently realized we had too much stuff. Not only did we have too much, we wanted even more. The culture we live in is constantly in our face about purchasing items that are supposed make us happy; new clothes, beauty products, cars, toys for your kids, electronics, apps for your phone. The never-ending assault on our desire for more is relentless. Our home was bursting at the studs with things we didn’t need and all of that stuff was causing stress. So we decided to get rid of it. Anything in our home that is not useful or doesn’t bring us joy is sold, thrown away or donated. And, we have begun to use the same criteria for our purchases. We are spending less money on things that have no lasting value and using those resources to focus on experiences and priorities that truly make us happier. We are still in the beginning stages of this journey, but it’s amazing how much less stress we have.

Create an emergency fund.

According to a recent survey by Bankrate, 57% of Americans don’t have enough cash on hand to cover an unexpected $500 expense. Now that is stressful! Sticking money into an account and resisting the urge to touch it can be tough, but here is a quick hack I have used for years to help with this. Create automatic transfers from your checking account into a savings account. Most of us now have our paychecks directly deposited into our checking accounts and most banks allow you to set up automatic recurring transfers. So, set up money to transfer every payday to a savings account and you will likely not even notice it’s gone. It doesn’t have to be a large amount; it will feel great just to get started!

Make a plan.

Simply having a plan in place to manage your finances can be a huge weight off of your shoulders. Knowing your monthly income and essential expenses is the first step in figuring out a budget and sticking with it. When my wife and I decided she would leave her career and stay home with our girls a couple of years ago, we both lost sleep over the financial impact this would have on our family. So, we sat down together and calculated our monthly income and bills. From there we identified some expenses we could easily reduce (like our satellite bill) and figured out how much we would have left for discretionary expenses (it wasn’t much). Having this plan in place made us both feel better and gave us some peace of mind knowing we could make this work as long as we stuck to the plan.

Talk about money.

Perhaps the most important thing you can do to ease financial stress is to talk to your spouse or significant other about money. These are not always easy or fun conversations and they may even end with one person being upset. But don’t give up. It is vitally important for you and the person you are sharing your life with to be on the same page about finances. A seemingly simple rule my wife and I have always used is that we will ask the other person before we make a purchase that is over a certain threshold. When we were first married and had very little in the way of financial resources, the limit was $50. For example, if I wanted to buy new decoys for turkey hunting and they were going to be more than $50, I had to run it by my wife first. While our threshold has grown since we were newlyweds 12 years ago, we still have this rule in place. It may seem silly, but it is a subtle way to ensure we are both on the same page about how the family’s money should be spent.

Visualize your future.

Your future self wants to be financially independent. Taking steps now toward that end will ease stress today and have a lasting impact later in life. What does your future look like? What do you want do? What will you be doing when you are 65, 75, 85? A great first step in planning for your financial future is to visualize the life you desire. This will help you to know if you are on track today to achieve the life you are picturing. My wife and I frequently talk about our dreams for our life after work and what we want to do. Sometimes these conversations are just two people dreaming together and sometimes there is a little more planning involved, but either way, it is helpful. Be kind to your future self, take action today to reduce stress now in order to avoid tension in the future. Read my blog about this here.

 

Stress can kill. And financial problems are one of the leading causes of anxiety. There are many money problems that may be fixed using simple hacks like the ones above, but for serious issues, you may need to talk to a professional to get help. The key is to take control of your money and allow yourself some better nights of sleep!

 

Jeff Kempker
Manager of Member Services

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Pension Reform Should Not Focus On All-Or-None Solutions

Remember the good ole’ days when retirement planning for most Americans involved income being illustrated as a three-legged stool where the legs of the stool represented 1) income from a pension, 2) Social Security, and 3) personal savings? The thought was that 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. Take two of the legs away and you end up on your back.

So why is it that every time I read about pension reform the proposed solution is always an all-or-none scenario where the pension will be shut down in favor of individual 401(k) accounts? This solution completely removes one leg of the stool (the pension) and reduces the retirement readiness for everyone affected. At LAGERS, we believe everyone who works hard and plays by the rules deserves a secure retirement and that this is best achieved by the three-legged stool approach.

When 401(k)s were first conceived in the late 1970’s, they were never intended to replace pensions, but to supplement the pension plan while allowing employees to defer taxable income. This was originally a great concept – one that furthered the notion of the three-legged stool. But over time, employers have eliminated their pensions and gone completely to the 401(k). The supplement has now become the main retirement income vehicle for many Americans. And it isn’t working. Even if their employer offers a 401(k), two-thirds of Americans aren’t using it to save for retirement.

One of the reasons Americans aren’t saving more is because investing as an individual is hard. Nearly seven of ten Americans cannot pass a basic financial literacy test. The average American worker is just not equipped to know how much to invest, what to invest in, when to re-allocate, and then how to turn their savings into a lifetime stream of income. Also, many Americans simply don’t have the means to go-it-alone in 401(k) accounts. The recommended retirement savings rate for an individual without a pension plan is north of 10% of income. For low-to-middle income workers, this is a daunting, if not impossible task. Pension funds, on the other hand, are invested by professionals and benefit from pooling so that one individual is not taking on all of the market risks.

Watch: Pension vs. 401(k), What’s the Difference?

One argument for moving away from pension plans in favor of 401(k)s is that the individual accounts cannot create unfunded liabilities. This couldn’t be further from the truth. Both pension plans and 401(k)s can create unfunded liabilities. An unfunded liability is established when liabilities exceed assets. In other words, the money you owe is more than the money you have on hand. The presence of an unfunded liability is not necessarily a problem so long as there is a steady, predictable, and disciplined approach to making the required contributions. Individual savers create unfunded liabilities when they fail to save enough for their retirement. When more and more individuals enter into retirement without adequate savings and huge personal unfunded liabilities their only option to sustain themselves in retirement will be to seek public assistance.

The bottom line is this: we need pensions and we need 401(k)s (and similar programs). We should not be seeking solutions that eliminate any one leg of the stool, but rather, to make those legs work together to provide a more stable base for all Americans.

 

Jeff Kempker
Manager of Member Services

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50 Years of Retirement Security and Counting…

50th-2-no-textMissouri LAGERS is preparing to celebrate 50 years of providing retirement security to Missouri’s local government workers!

LAGERS was created by the 74th general assembly in 1967 and officially opened its doors the following year. During its first year of existence, the young system was administered through a contractual agreement with the Missouri Municipal League and added its first full time staff member in 1969.

By June 1969, 70 Missouri local government entities had joined LAGERS with a total of 4,600 member employees and $2.1 million in assets. Today, LAGERS is the largest pension system for local government employees in the state of Missouri, covering over 680 employers, 33,000 active members, and 19,000 retirees, with over $6 billion in assets and an overall aggregate funding level in excess of the national average.

Missouri LAGERS believes that a secure retirement should be for everyone who works hard, and that retirement security is the foundation for building strong communities across the state. LAGERS is an integral part of providing local communities with the tools they need to attract and retain the high quality workers necessary to making communities a great place to live, work, and retire. LAGERS has helped thousands of local government workers retire with dignity and security over the past 50 years and looks forward to carrying our mission into the next 50 years and beyond!

LAGERS is planning to celebrate its 50th birthday in several ways:

New Vision Statement

LAGERS Board of Trustees recently adopted a new vision statement: “A Secure Retirement for All.” Our vision is the very essence of why LAGERS staff gets up and goes to work each and every day. We strive in everything we do to ensure that our members can someday retire with dignity and security.

 

New Responsive Website

Coming in July 2017, LAGERS will be rolling out an all-new responsive website. The new website will feature enhanced user navigation; new, interactive content, and even more great ways to connect with your LAGERS system. LAGERS remains committed to ensuring that you have the best access to information you need about your benefits!

 

A History of LAGERS

Stay tuned on our social media channels throughout the year as we look back at a complete 50 year history of the LAGERS system. Beginning as a dream in 1967, LAGERS has grown into a nationally acclaimed pension system, setting the gold standard for pension administration across the county.

 

LAGERS Annual Meeting

Don’t forget to join us at our annual meeting as we return to the site of our very first LAGERS Annual Meeting at Lake of the Ozarks.

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