Missouri Local Government Employees' Retirement System

In the mid-1960s, a collective of Missouri communities, in partnership with the Missouri Municipal League, identified a need. They believed that a secure retirement should be accessible to all public servants, not just those in the largest cities. This led to a push to amend the Missouri Constitution and pass legislation creating a cooperative retirement system. The result was the Missouri Local Government Employees' Retirement System (LAGERS), established by the 74th Missouri General Assembly in October 1967. It officially opened its doors in April 1968 with ten chartering members. In its first year, the system was administered through an agreement with the Missouri Municipal League, hiring its first full-time staff member in 1969. By June of that year, 70 local government entities had joined, representing 4,600 employees and $2.1 million in assets. A significant aspect of the LAGERS model is its flexibility. Initially created with a single benefit structure, the system evolved to offer numerous combinations of benefit options that employers can elect at the local level. This adaptability has been a key factor in its growth. Today, LAGERS is the largest public pension system for local government employees in Missouri, serving over 850 employers and more than 70,000 members with over $10 billion in assets.