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Can I receive a lump-sum payment and a monthly annuity check?
A retiree can select a retirement option and request a one-time lump-sum payment to be paid at the same time as the Member’s first annuity payment. The Member’s annuity amount will be actuarially reduced for the lump-sum payment. Members may select a partial lump-sum distribution, or both a partial lump-sum distribution and a DROP, not to exceed 60 months of annuity payments under a basic Member only Life Annuity.
Creditable Service/Membership | Contributions | Proportionate Service | Service Purchases
Retirement | Lump-Sum Payments | Retirees Working for the City of Austin | Retiree Health Insurance
Leaving City Employment | Other Information
The Frequently Asked Questions document is intended to provide general information to Members. Member specific questions should be directed in writing to the COA ERS Staff. If there is any difference between the information provided in this document and the law or policies that govern COA ERS, the law and policies will govern.
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