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LAGERS is a non-profit public pension system created in 1967 by the General Assembly of the State of Missouri to provide retirement, disability, and survivors' benefits to Missouri's local government employees. LAGERS currently covers almost 800 employers, over 35,000 active members, and approximately 24,000 retirees.

In order to receive a benefit from LAGERS in the future, you must become vested. “Vested” means you have accumulated 60 months (5 years) of LAGERS credited service.

Vesting. To be eligible to receive a benefit from LAGERS, you must first become vested. You become vested once you earn 5 years (60 months) of credited service within the LAGERS system. Your 60 months of credited service can be earned at one employer or a combination of LAGERS employers.

LAGERS is a defined benefit retirement plan. Defined benefit plans are also referred to as pensions. The benefits from these plans are “defined” because they pay a pre-determined amount for a person's remaining life after work.

The Rule of 80 allows eligible members to retire earlier than normal retirement age with no reduction in their monthly payment. If your employer provides the Rule of 80 retirement provision, you may be eligible to retire with unreduced benefits when your years of credited service plus your age total the number 80.

The rule of 85 says that workers can retire with full pension benefits if their age and years of service add up to 85 or more. So if you're 60 years old and you've been working at the same company for 25 years then technically, you could be eligible for full pension benefits if you choose to retire early.

LAGERS' benefit formula multiplies an employer elected percentage by how much you make and how long you work. Your employer chooses a benefit multiplier between 1% and 2.5%. As well, your employer chooses the wages used in your benefit calculation as either the highest consecutive 36 or 60 months.

If family court determines your LAGERS benefit is divisible as a marital asset, it is solely your responsibility to forward the portion determined by the family court to your former spouse. The former spouse cannot begin receiving his or her portion until you begin to draw your monthly benefit.