There is a common misconception that taxpayers bear all the costs of funding defined benefit public pensions. The truth is, investment return funds the lion’s share of benefits and taxpayers receive substantial economic benefits from public pension plans. LAGERS paid over $230 million in retirement benefits in 2014, $216 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….
2014 Economic Impact Report
Source: Missouri Local Government Employees Retirement System, 2014
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