LAGERS Remains Strong, Near 95% Funded

The Missouri Local Government Employees Retirement System (LAGERS), the pension fund that covers 60,000 Missouri local government employees and retirees, is 94.8% pre-funded according to the system’s actuary.

 

The pre-funded rate represents a pension plan’s assets versus liabilities, or, how much money a plan has on hand today to pay the benefits promised for tomorrow. Though LAGERS strives to be 100% funded, an 80% funded rate is normally considered the benchmark for a well-funded plan and the average funded rate for US public plans is 72%, according to the Center for State and Local Government Excellence. A 95% funded rate is roughly equivalent to having pre-funded 95% of your home mortgage.

 

The LAGERS investment portfolio, which has a return of 9.27% for the last 5-year period ending June 30, 2017, is a major reason for the above average funding level.

 

An increase in the funded rate is good news for the 701 local government employers that participate in the LAGERS system, and ultimately, taxpayers across Missouri because it means LAGERS is in a better position to meet all of its obligations now and into the future.

 

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LAGERS One-Year Return Holds Strong

LAGERS is pleased to report as of June 30, a one-year investment return of 12.04% (unaudited), net of all fees.

Strong investment returns are always good news for members, employers, and taxpayers alike.  LAGERS credits excess investment gains back to the employers helping to ensure the future security of the system and the members we serve.

And while one-year returns are of note, LAGERS greater focus remains on ensuring the long-term security of the system so that Missouri’s local government employers can continue to rely on LAGERS as a tool that attracts and retains the highest skilled, most dedicated public workers into our local communities .

 

 

LAGERS Celebrates 50 Years of Retirement Security

 Jefferson City, MO - January 31, 2017

 

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Missouri Local Government Employees Retirement System
Missouri Local Government Employees Retirement System