As a LAGERS member, you join nearly 40,000 Missouri local government employees across the State of Missouri serving their local communities. With your new LAGERS Defined Benefit Plan, you have a valuable tool in helping you to plan and reach a secure retirement with protected lifetime benefits from your employer.
Your LAGERS retirement benefit provides guaranteed monthly payments based upon your working career. The payments begin at your retirement and continue until your death. The amount of your monthly benefit is based upon three factors:
• How long you work
• How much you earn in salary
• A unique set of benefit levels elected by your employer
Your benefit is calculated using a formula based on the above three factors. Your benefit is not affected by swings in the markets. It is professionally managed so that you do not have to choose your investments or worry about fees. You also will never have to worry about outliving your LAGERS benefit because it is payable every month for as long as you live.
With your LAGERS benefit, you have the peace of mind knowing that if you commit your career to public service and your community, you will have earned a secure retirement benefit that you can count on. To become eligible to receive your benefit, you must first become vested with the system. Visit our Summary of Benefits page to learn more.