City of Austin Employees' Retirement System (COAERS) was originally established in 1941 by City ordinance. Since August, 1991, COAERS has been governed by state law (Article 6243n, Vernon's Texas Civil Statutes).
The System administers retirement, disability, and death benefit programs for regular full-time employees of the City of Austin working 30 or more hours per week, excluding the mayor, members of the City Council, and commissioned civil service police officers and firefighters.
Responsibility for the operation and administration of COAERS is vested in an eleven-member Board of Trustees. The Executive Director, who is appointed by the Board, is responsible for the day-to-day management of the System. The Board also engages professional investment management firms to invest the assets of the System with assistance from an independent investment consultant.
COAERS serves more than 9,600 active members and over 6,200 retirees and surviving beneficiaries who receive monthly benefits. As of December 31, 2019, the System assets were approximately $2.91 billion.
The mission of the City of Austin Employees' Retirement System is to provide reliable retirement benefits.
Our vision is to be recognized as the standard of excellence in public pension plans.
- We will provide secure retirement benefits, exceptional customer service and effective communication.
- We will recognize the changing needs of our members and continually enhance our professional and technological capabilities.