LAGERS BLOGGERS

Jeff Pabst, CRC

Many people around the pension world freely use the word “vesting”. I thought it might be good to rehash exactly what vesting means for you. This video does a great job of explaining why vesting is the single most important thing you need to understand about your benefit.

With LAGERS, vesting means you have reached 60 months of service and are now guaranteed to receive a benefit from LAGERS. This is an important fact to know because if you leave before your vested and never return to LAGERS covered employment, you will forfeit your service and will not receive a benefit from LAGERS. However, you can earn your vesting with more than one LAGERS employer. So, if you leave your current LAGERS employer after 2 years, but go to another LAGERS employer for 3 years, you will be vested after completion of the total of 5 years (60 months) in the LAGERS system.

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