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2016 Economic Impact Report
LAGERS benefits paid to each congressional district and their impact on the Missouri economy.
Missouri Local Government Employees Retirement System
LAGERS 2016 Economic Impact Report
Missouri LAGERS Leadership
LAGERS Board of Trustees
J. Robert AshcroftEmployer TrusteePlatte County
Arby Todd, ChairpersonMember TrusteeCity of Lee’s Summit
Frank BuckVice ChairpersonEmployer TrusteeDeKalb County
Kathy BarszczakMember TrusteeCity of Independence
Barry McCulloughEmployer TrusteeCity of Gladstone
Joan Jadali, CPFOMember TrusteeCity of Webster Groves
LAGERS Staff Leadership
Keith Hughes, CEBS, CGFMExecutive Secretary
Robert Wilson, CEBSAsst. Executive Secretary,
Member Services
Brian Collett, CFA, CAIAChief Investment Officer
The Missouri General Assembly created LAGERS in 1967 to provide retirement, disability, and survivor benefits to employees of participating local government employers.
LAGERS does not receive any funding from the state of Missouri. Rather, each local government entity is obligated to fund the benefits it chooses for its group of employees.
Claire ScovilleCitizen TrusteeKansas City
LAGERS 2016 Economic Impact Report
Executive Summary
We all dream of retiring.
Spending our days doing what
we want to do rather than what
we have to do. But how do we
get there? Retirement is the
most important and expensive
purchase we will ever make and
many Missourians are woefully unprepared. A recent study by the National Institute on Retirement Security
gave Missouri a mere average rating for retirement preparedness, meaning many of our retirement dreams
may someday turn into nightmares.
Every hard working Missourian should be able to retire with dignity whether they work in the public
or private sector. Retirement security is an important issue in this state. LAGERS understands this
importance, and strives to ensure this security every day.
LAGERS is a defined benefit pension plan. Defined benefit plans pay a retiree a protected, pre-determined
amount each month. The amount of the benefit is based on a formula, not an account balance, and is
driven by the employee’s years of service and salary. Defined Benefit plans remain the most economical
and effective retirement plans not only for employees, but for employers and taxpayers as well. They
provide a clear and secure path to retirement for employees and help employers recruit and retain a
strong, loyal workforce.
Defined benefit plans return value to the communities as well. Approximately 93% of the benefits are
paid to retirees living in the communities they served as public workers. The steady monthly retirement
benefits received by these pensioners are not stuffed under a mattress, but reinvested in their
hometowns. LAGERS paid out $262 million to 20,219 benefit recipients last year, with $244 million
staying in Missouri. That’s a pretty nice annual economic stabilizer for the Show-me State!
This report shows the impact LAGERS has on your district and Missouri as a whole. We trust this
information will assist you in making important decisions about the retirement security of Missourians.
A Secure Retirement for All
LAGERS 2016 Economic Impact Report
PartOneAnnual Benefit Payments
LAGERS Annual Benefit Payments by Region
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payment Statistical Summary
Averages perState Senate
Averages perState House
Averages perCongressional
Total MembersAverage number of active members & benefit recipients
1,520 320 6,461
Active MembersAverage number of active employees currently working toward a benefit
971 205 4,151
Benefit RecipientsAverage number of retired members and beneficiaries who received reirement benefits within the last year
544 113 2,311
Average annual benefit payments per district
$7,205,221 $1,502,668 $30,622,188
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State Senate District
District SenatorActive
MembersBenefit Recipients Total Members
Total Annual Benefits
1 Scott Sifton 130 125 255 $1,748,6592 Bob Onder 697 385 1,082 $7,039,5633 Gary Romine 1,368 704 2,072 $7,506,8654 Jacob Hummel 215 72 287 $674,0815 Jamilah Nasheed 62 38 100 $520,7256 Mike Kehoe 1,225 640 1,865 $7,340,7937 Jason Holsman 178 116 294 $1,679,0208 Will Kraus 1,134 558 1,692 $10,703,8389 S. Kiki Curls 202 71 273 $805,23710 Jeanie Riddle 1,041 765 1,806 $8,496,44011 J.J. Rizzo 1,604 732 2,336 $15,051,43112 Dan Hegeman 1,156 880 2,036 $8,237,46713 Gina Walsh 121 99 220 $1,161,89214 Maria Chappelle-Nadal 339 109 448 $1,344,93615 Andrew Koenig 429 152 581 $2,504,00116 Dan Brown 1,282 665 1,947 $7,420,30517 Ryan Silvey 1,046 439 1,485 $6,209,25618 Brian Munzlinger 1,581 1048 2,629 $9,680,17019 Caleb Rowden 1,298 646 1,944 $10,994,98320 Jay Wasson 735 1026 1,761 $22,219,06521 Denny Hoskins 1,218 812 2,030 $8,365,72822 Paul Wieland 424 337 761 $4,470,40123 Bill Eigel 1,852 551 2,403 $9,900,99924 Jill Schupp 519 100 619 $1,489,80425 Doug Libla 1,700 1120 2,820 $9,979,68226 Dave Schatz 656 459 1,115 $5,598,40527 Wayne Wallingford 1,515 931 2,446 $11,653,73728 VACANT 799 758 1,557 $8,277,74729 David Sater 1,064 535 1,599 $6,423,07530 Bob Dixon 3,064 957 4,021 $18,053,64731 Ed Emery 1,458 818 2,276 $9,241,37732 Ron Richard 1,018 575 1,593 $5,897,03833 Mike Cunningham 810 561 1,371 $5,655,13234 Rob Schaaf 1,466 703 2,169 $8,589,302
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
1 Allen Adrews 226 125 351 $919,760
2 J. Eggleston 137 121 258 $1,078,845
3 Nate B. Walker 404 197 601 $1,523,545
4 Craig Redmon 235 151 386 $1,121,210
5 Lindell F Shumake 332 207 539 $2,455,945
6 Tim Remole 461 285 746 $2,620,694
7 Rusty Black 434 212 646 $2,165,661
8 Jim W. Neely 257 201 458 $2,021,120
9 Delus Johnson 110 219 329 $2,542,380
10 Pat Conway 865 171 1036 $2,107,171
11 Galen Higdon 51 230 281 $2,434,547
12 Kenneth Wilson 451 154 605 $1,745,045
13 Nick A Marshall 73 81 154 $1,088,665
14 Kevin Corlew 71 62 133 $954,267
15 Jon Carpenter 189 89 278 $1,563,000
16 Noel J Shull 48 78 126 $1,066,451
17 Mark Ellebracht 23 126 149 $1,622,988
18 Lauren Arthur 75 67 142 $1,072,375
19 Ingrid Burnett 56 40 96 $565,365
20 Bill Kidd 413 233 646 $5,366,035
21 Ira Anders 992 212 1204 $4,818,842
22 Brandon Ellington 0 17 17 $240,319
23 Randy Dunn 0 6 6 $50,575
24 Judy Morgan 0 13 13 $138,208
25 Greg Razer 0 11 11 $95,644
26 Gail McCann Beatty 0 9 9 $35,137
27 Richard Brown 0 8 8 $98,683
28 Jerome Barnes 179 52 231 $543,309
29 Rory Rowland 0 165 165 $3,073,142
30 Mike Cierpiot 0 134 134 $2,579,067
31 Dan Stacy 250 133 383 $2,405,495
32 Jeanie Lauer 243 127 370 $2,399,548
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
33 Donna S Pfautsch 419 167 586 $2,787,920
34 Rebecca Roeber 11 82 93 $1,832,451
35 Gary L. Cross 611 102 713 $1,642,410
36 DaRon McGee 0 20 20 $194,818
37 Joe Runions 178 56 234 $807,452
38 T.J. Berry 820 188 1008 $2,030,744
39 Joe Don McGaugh 229 170 399 $1,347,522
40 Jim Hansen 319 261 580 $2,454,360
41 Randy Pietzman 120 90 210 $1,204,217
42 Bart Korman 144 132 276 $1,319,601
43 Jay D. Houghton 323 220 543 $2,285,893
44 Cheri Toalson Reisch 43 171 214 $2,726,244
45 Kip Kendrick 1137 87 1224 $1,352,898
46 Martha Stevens 0 102 102 $1,904,639
47 Chuck Basye 0 148 148 $2,537,251
48 Dave E. Muntzel 165 147 312 $1,385,048
49 Travis Fitzwater 393 235 628 $2,672,763
50 Caleb Jones 41 138 179 $2,378,187
51 Dean A. Dohrman 217 140 357 $1,697,284
52 Nathan Beard 361 154 515 $1,420,833
53 Glen Kolkmeyer 261 206 467 $2,266,007
54 Dan Houx 185 111 296 $1,347,772
55 Rick Brattin 195 150 345 $2,336,889
56 Jack Bondon 184 108 292 $1,469,704
57 Wanda Brown 109 113 222 $1,130,451
58 David Wood 56 84 140 $779,209
59 Mike Bernskoetter 4 181 185 $2,576,289
60 Jay Barnes 697 154 851 $2,087,723
61 Justin Alferman 237 155 392 $1,623,581
62 Tom Hurst 32 106 138 $1,053,757
63 Bryan Spencer 187 93 280 $1,580,314
64 Robert Cornejo 498 108 606 $1,620,200
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
65 Tom Hannegan 1397 179 1576 $3,147,753
66 Tommie Pierson 80 25 105 $302,566
67 Alan Green 0 21 21 $202,454
68 Jay Mosley 0 20 20 $301,120
69 Gretchen Bangert 0 18 18 $211,359
70 Mark Matthiesen 0 27 27 $381,110
71 Sue Meredith 0 16 16 $248,180
72 Mary Nichols 195 44 239 $467,047
73 Courtney Allen Curtis 186 29 215 $499,786
74 Cora Walker 64 31 95 $227,400
75 Alan Gray 32 27 59 $291,242
76 Joshua Peters 0 6 6 $53,284
77 Steven Roberts 0 8 8 $69,057
78 Bruce Franks 0 10 10 $147,369
79 Michael Butler 62 11 73 $228,781
80 Peter Merideth 0 3 3 $5,721
81 Fred Wessels 0 11 11 $81,438
82 Donna Baringer 0 13 13 $128,769
83 Gina C. Mitten 174 36 210 $478,103
84 Karla May 0 7 7 $40,516
85 Clem James Smith 162 23 185 $469,502
86 Joe Adams 46 14 60 $169,565
87 Stacey Newman 20 8 28 $58,912
88 Tracy McCreery 54 11 65 $156,045
89 Dean Plocher 43 10 53 $152,785
90 Deb Lavender 8 19 27 $489,775
91 Sarah Unsicker 288 42 330 $741,598
92 Doug Beck 0 34 34 $464,150
93 Bob Burns 0 12 12 $94,841
94 Cloria Brown 0 18 18 $193,367
95 Marsha Haefner 17 21 38 $223,485
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
96 David Gregory 96 36 132 $671,716
97 John C. McCaherty 15 43 58 $373,878
98 Shamed Dogan 0 44 44 $531,445
99 Jean Evans 24 25 49 $301,774
100 Derek Grier 148 26 174 $383,359
101 Bruce DeGroot 49 18 67 $242,509
102 Kurt Bahr 0 52 52 $871,628
103 John Wieman 14 79 93 $1,546,230
104 Kathie Conway 0 96 96 $1,601,095
105 Phil Christofanelli 0 110 110 $1,997,821
106 Chrissy Sommer 0 93 93 $1,845,929
107 Nick Schroer 382 93 475 $1,843,647
108 Justin Hill 92 62 154 $1,078,143
109 Paul Curtman 396 163 559 $1,857,116
110 Kirk Mathews 142 45 187 $692,240
111 Shane Roden 27 87 114 $1,119,975
112 Rob Vescovo 44 39 83 $499,660
113 Dan Shaul 104 45 149 $657,214
114 Becky Ruth 226 149 375 $2,124,440
115 Elaine Gannon 25 150 175 $1,398,988
116 Kevin P Engler 495 207 702 $2,342,976
117 Mike Henderson 166 105 271 $1,045,101
118 Ben Harris 693 171 864 $2,251,783
119 Nate Tate 88 120 208 $1,626,816
120 Jason Chipman 116 151 267 $1,850,729
121 Keith J Frederick 427 139 566 $1,754,110
122 Steve Lynch 176 60 236 $627,996
123 Diane Franklin 349 185 534 $1,953,595
124 Rocky C Miller 184 162 346 $1,468,744
125 Warren Love 163 188 351 $2,095,541
126 Patricia Pike 507 305 812 $2,517,471
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
127 Mike Kelley 77 150 227 $1,575,685
128 Mike Stephens 96 157 253 $1,951,354
129 Sandy Crawford 183 139 322 $1,604,233
130 Jeffrey L. Messenger 49 259 308 $5,254,436
131 Sonya M Anderson 14 248 262 $4,693,777
132 Crystal Quade 2890 121 3011 $1,897,188
133 Curtis Trent 37 204 241 $3,956,950
134 Elijah Haahr 96 228 324 $4,690,998
135 Steve Helms 0 199 199 $3,896,004
136 Kevin Austin 78 229 307 $5,835,106
137 Lyndall D Fraker 98 207 305 $4,630,836
138 Don Phillips 37 133 170 $2,250,348
139 Jered Taylor 261 158 419 $3,079,321
140 Lynn A Morris 336 172 508 $2,819,360
141 Kelly Hannah 140 113 253 $1,259,087
142 Robert Ross 178 147 325 $1,191,441
143 Jeff L Pogue 161 118 279 $681,138
144 Paul Fitzwater 145 104 249 $681,888
145 Rick Francis 419 245 664 $2,048,138
LAGERS 2016 Economic Impact Report
LAGERS Members and Annual Benefit Payments by State House District
District Representative Active Members Benefit Recipients Total Members Total Annual Benefits
146 Donna S. Lichtenegger 137 239 376 $3,144,636
147 Kathryn Swan 574 173 747 $2,152,298
148 Holly R Rehder 359 211 570 $3,251,587
149 Done Rone 630 315 945 $2,885,896
150 Andrew McDaniel 353 249 602 $2,052,955
151 Tila L Hubrecht 223 172 395 $1,633,572
152 Todd Richardson 487 235 722 $2,526,796
153 Steve C. Cookson 41 132 173 $1,344,745
154 Shawn Rhoads 324 175 499 $1,714,450
155 Lyle E. Rowland 1085 143 1228 $1,416,316
156 Jeffery Justus 339 106 445 $1,241,969
157 Mike Moon 171 137 308 $1,662,428
158 Scott Fitzpatrick 163 65 228 $667,092
159 Bill H Lant 22 42 64 $365,327
160 Bill Reiboldt 129 95 224 $881,985
161 Bill E. White 32 79 111 $850,050
162 Charlie E Davis 393 101 494 $908,211
163 Cody Smith 9 170 179 $1,968,985
PartOneSystem Finances & Annual Benefit Payments
LAGERS is currently 94.7% pre-funded. This simply means
that LAGERS has approximately 95
cents in assets already in hand
for every dollar of present and future
liabilities in the system.
95¢ASSETS
LIAB
ILIT
IES
LAGERS 2016 Economic Impact Report
1 Year
3 Years 5 Years
10 Years20 Years
-0.19
6.67%7.57%
6.69%7.8%
LAGERS Invests in a Diversified Portfolio
Returns as of June 30, 2016
48.8%
25.6%17.9%
7.7%
Asset Allocation as of June 30, 2016
Equities
Fixed Income
Real Assets/Return
Strategic
LAGERS 2016 Economic Impact Report
LAGERS Annual Benefit Payments by Congressional District
LAGERS paid out $262 million to 20,219 benefit recipients last year, with $244 million staying in Missouri.
LAGERS 2016 Economic Impact Report
All Americans deserve financial security in retirement. Not only are well-managed pension plans good for workers, they are also good for Missouri.
The LAGERS data used in this study:
Fiscal Year 2016 benefits were paid to 20,219 benefit recipients, 18,490 of them live in Missouri.
Of the $262 million in total benefits paid by LAGERS in FY 2016, $244 million was paid to Missouri residents.
PartTwoEconomic Impact of Annual Benefit Payments to Missouri
The mulitpliers used in this report are from Pensionomics 2016: Measuring the Economic Impact of DB Pension Expenditures, National Institute on Retirement Security.
LAGERS 2016 Economic Impact Report
Economic Impact
The Multiplier Effect:
How spending flows through
the economy, supporting
jobs and incomes in
the process.
PENSIONBENEFIT
DIRECT IMPACT
INDIRECT IMPACT
INDUCED IMPACT
A retired sheriff...
to buy a new lawnmower....uses his pension money
all see an increase in income, and spend that additional income.
As a result of that purchase, the owner of thehardware store, the lawnmower salesman, and each of
the companies involved in the production of the lawnmower
These companies hire additional employees as a result of this increased business,
and those new employees spend their paychecks in the local economy.
LAGERS 2016 Economic Impact Report
At a Glance
Total Output is based on LAGERS benefit payments, times the National Institute on Retirement Security Analysis Total Output Multiplier of 1.41.
Total Output covers all economic activity generated by:
• LAGERS benefit payments
• All additional economic activity in Missouri generated by those payments
Total Output:
$344 million
Each $1 in state and local pension benefits paid to Missouri residents ultimately supported $1.41 in total output in the state. This “multiplier” incorporates the direct, indirect, and induced impacts of retiree spending, as it ripples through the state economy.
LAGERS 2016 Economic Impact Report
LAGERS has been getting it right for 50 years.
The modest benefits being paid to Missouri Local Government Employees Retirement System retirees help middle class workers transition into retirement and remain middle class.
LAGERS members work hard. And each month of hard work helps them get a little closer to a dignified, secure retirement. LAGERS members are thousands of police officers, fire fighters, librarians, utility workers, and many more located in every corner of Missouri. They serve our communities everyday to make Missouri a great place to live.
LAGERS retirees dedicated their careers to their communities and are still making an impact today. 93% of the $262 million LAGERS pays in annual benefits stays in Missouri communities to promote economic stability across the state.
Defined benefit pension plans are not only good for the retiree, but also for the worker, employer, taxpayer, and Missouri!
Missouri Local Government Employees Retirement System
701 W. Main St. P.O. Box 1665Jefferson City, MO 65102(800)447-4334
2016 Economic Impact Report