LAGERS members are our public servants that give us their time, talent and dedication to ensure our communities are the best that they can be. One of the best ways to return the favor to our public servants is by providing a clear path to retirement. A defined benefit plan like LAGERS offers a defined and secure benefit in the most efficient and effective manner.
Explore the Positive Economic Impact of LAGERS in your County
LAGERS paid over $262 million to 20,219 benefit recipients, in 2016, $244 million of which stayed in Missouri. The protected monthly retirement benefit earned by local government retirees creates an economic stabilizer within Missouri communities. LAGERS retirees receive a pension check each month, so they don't need to adjust their spending habits based on the markets.
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About the Economic Impact
According to the National Institute on Retirement Security (NIRS), each $1 in state and local pension benefits paid to Missouri residents ultimately supported $1.41 in total economic output in the state. This “multiplier” incorporates the direct, indirect, and induced impacts of retiree spending, as it ripples through the state economy.
NIRS’ analysis rests on the recognition that expenditures have a “multiplier” effect in a regional or national economy. When money is spent at a local business, that business sees an increase in revenue, thus boosting the economy initially. But that initial purchase generates even more local income, as shop owners will spend more money at other local businesses, purchasing more input goods to make additional products.
Then, those input business owners will also spend more money in the local economy to increase their production, and so on. Additionally, with the increase in revenue, local merchants may hire extra workers, further fueling the local economy. Thus, with each new round of spending, additional revenue is generated, expanding job creation, incomes, total output, and tax revenue to the local community.
LAGERS Benefit Recipients
Living in Missouri
Average Annual Recurring Benefit Paid to LAGERS Benefit Recipients in Missouri
Phone: 1-800-447-4334 Local: 573-636-9455 Fax: 573-636-9671 Email: firstname.lastname@example.org
701 West Main St. PO Box 1665 Jefferson City, MO 65102
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