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COAERS Issues 1099-R Forms

If you received a payment during 2011 from COAERS either as a retiree, active member, or beneficiary, you will soon receive a Form 1099-R for your 2011 tax return. COAERS will mail the forms at the end of January 2012.

Form 1099-R, which reports your taxable pension earnings from the 2011 tax year, will be mailed to the address on file with COAERS. The Form 1099-R provides information you will need to use to complete your tax return.

Annual Member Statements

Each year, COAERS mails Annual Member Statements to all members with funds on deposit with the System. These statements include information regarding your retirement membership date, contributions you made during 2011, interest credited as of December 31, 2011, and both taxable and non-taxable creditable service purchases you made during 2011. For active-contributing members, the December 31, 2011, balance on your annual statement will not match the retirement contribution balance on your City of Austin pay stub. The City does not include any interest, creditable service purchases, or prior refunds when calculating lifetime-to-date retirement contributions. Please review your statement carefully and contact COAERS if you have any questions or concerns about your statement. The statement is provided for information purposes only and allows you to verify our records. It is not a guarantee of benefits.

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2011 Interest Posting

At the November 22, 2011 Board Meeting, the COAERS Board of Trustees set the interest rate paid on Member deposits at 2.25%. Interest is credited as of December 31, 2011 on deposits in Members' accounts as of January 1, 2011.

Retirees Can Avoid Mail Delays and Trips to the Bank

If you are a COAERS retiree who receives their monthly retirement check through the U.S. Postal Service each month, consider having your retirement benefits deposited directly into your bank account instead.

Enrolling in direct deposit is easy and once you are enrolled, your retirement benefit will be electronically deposited into your checking or savings account on the last business day of each month. Direct deposit is quick and safe. In most instances, your money is immediately available and you will not have to rely on the Postal Service to deliver your check or wait in line at the bank to cash it. You can enroll in Direct Deposit by filling out an Authorization Agreement for Direct Deposit and returning it to COAERS.

Funding & Benefit Structure Update

The City of Austin has taken action to improve the long-term financial soundness of COAERS. In the fall of 2010, the City Council adopted a resolution increasing City contributions to COAERS. In June of 2011, the Texas Legislature amended state law establishing different benefit levels for employees of the City who become members of the System on or after January 1, 2012. The new benefit design will not impact the benefits of current City of Austin employees nor will it affect current retirees.

Please click here for a summary of the discussions and City Council action.

Upcoming Retiree Pay Dates
  • January 31, 2012
  • February 29, 2012
  • March 30, 2012

Retirement Benefits and Cost of Living Adjustments


Application to IRS for Determination Letter -
Notice to Interested Parties

 

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City of Austin
Employees´ Retirement System
418 E. Highland Mall Blvd.
Austin, Texas 78752-3720

(512) 458-2551
(512) 458-5650 fax

E-mail your questions or comments about retirement benefits to
member.services@coaers.org

Employment Opportunities
Please click here for employment opportunities with COAERS.

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Vendors please click here for important information.

¿Habla Usted español?

Representantes están disponibles para contestar sus preguntas en español por teléfono o aquí en la oficina de COAERS. Además, contamos con algunas formas en español y podemos dar presentaciones sobre el sistema y la jubilación para los miembros interesados. Favor de hablar al (512) 458-2551.

Spanish Translated Forms Available

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Disclaimer:

This web site has been established by COAERS to provide members with general information about benefits. It is intended as an informational tool only and does not constitute a plan document or summary plan description.

All information provided on this web site and any benefit estimates or other financial calculations produced through this web site are not binding on COAERS, its Board of Trustees, or the City of Austin. Further, such information does not constitute a guarantee of benefits, an admission of liability or a waiver of any legal rights or arguments in any pending or future legal proceeding. All estimates, calculations, and the information they are based on are subject to final verification for accuracy by COAERS prior to the payment of benefits.

If there is a conflict between information on this web site and applicable law or administrative rules, the law and administrative rules will prevail. COAERS reserves the right to correct any errors contained herein.

If you wish to receive a written estimate of your projected retirement benefits from COAERS or if you have any questions regarding information contained in this web site, please call us at 512-458-2551.