Welcome New Employees!
Your retirement program is a defined benefit plan, where you contribute a portion of your salary each pay period into a retirement account that COAERS manages and invests for you. You became a member of COAERS automatically as a regular, full time City of Austin employee.
As a tax-qualified "defined benefit" plan under Section 401(a) of the Internal Revenue Code, the COAERS plan promises a monthly retirement benefit that is based on a predetermined formula. One of the best things about a defined benefit plan like COAERS is that the ups and downs of the market do not affect the benefit promised. Once retired, you'll receive a steady monthly payment for your lifetime. Another advantage of the plan is that member contributions are tax deferred. While you are working, your retirement contributions lower your taxable income.
COAERS is governed by an eleven-member Board of Trustees who provide oversight and set policy. Trustees include active members like you, retirees, citizens, and city officials. In addition to our Board, we have a staff of employees ready to assist you.
Please follow the link to the Active Members page where you will find information on your benefits, forms, FAQs, and calculators - or you may go directly to those topics listed in red on your left.