Jeff Pabst, CRC
I have several retirement articles come across my desk every month. Below are a few that caught my eye…
Public Pensions Provide Retirement Income and Portability
You may come across articles that feature pensions in a negative manner and they may have quite a bit of misinformation. The National Institute for Retirement (NIRS) was recently featured in a Plansponsor magazine article that accurately illustrated some of the strong features of public pension systems. There should be more articles like this one to ensure everyone understands that the vast majority of pensions are doing things right, LAGERS included. Check out the article and the full report findings here.
Time to rethink the retirement paradigm
I found this article to be a very interesting new approach to retirement. Instead of the traditional thought of retirement where someone goes directly from working a full-time job to retirement, this article shows a gradual approach to retirement. This approach is becoming more and more popular among retirees and may be retirement of the future. Check out the article here.
What Americans get wrong about retirement, and what they fear.
There are many misconceptions out there about retirement and expectations of retirees. This article reports on some of the finding from a Society of Actuaries study. It shows that a majority of retirees believe they are not going to live nearly as long as actuaries project them to live. Also, about two-thirds of retirees expressed concern of outliving their savings in retirement. As a LAGERS member, your benefit will be paid until you pass away. So, there is no way to outlive your benefit. Click Here for more findings from the study.
3 General Concerns that Thwart Retirement Saving
This article is a great example of how and why people are not saving for retirement. Overall, the technicality, complicated nature, and distrust in the industry are the three items mentioned in the article as the concerns that thwart retirement savings. The approach of the article is for financial representatives in the industry and what they can do to encourage increasing retirement savings. There have been many studies performed that show Americans are not properly saving for retirement. However, as a LAGERS member, your benefit gets larger the longer you work and the more you make in salary, no matter how much you save. Yet, saving is still very important part of your retirement puzzle, because your LAGERS pension is not intended to replace all of your income. Instead, it is intended to give a fixed piece. So, make sure you properly save to fill in the gaps between your Social Security benefit and your LAGERS benefit. Click Here to read this article.
It is very important that you keep yourself informed about the happenings in the retirement industry. This includes information about pensions. I hope this blog post gives you a more complete picture of the retirement industry. Of course, if you have questions about these topics or any other issues, please contact the LAGERS office!
Jeff Pabst, CRC Senior Communications Specialist