HOW COAERS IS ADDRESSING COVID-19 AND KEEPING YOUR BENEFITS SECURE
The City of Austin and the State of Texas have taken extraordinary actions to prevent the spread and impact of the Coronavirus, known as COVID-19, in the region. On March 24, the City of Austin joined a growing list of municipalities in the United States and across the world to issue a “Stay Home - Work Safe” order to protect our community's health. This measure requires all Austinites to stay at home, with exceptions for essential work and activities.
During this time, the City of Austin Employees’ Retirement System (COAERS) has been actively monitoring the rapid developments surrounding COVID-19. In response to the recommendations by the CDC and local authorities, COAERS has taken critical steps to protect the health and wellbeing of our valued members and our dedicated staff. While we adapt to this ever-changing situation, rest assured the COAERS team is here for you and working diligently to ensure the continuity of our service, and to deliver benefits on schedule.
COAERS IS OPERATING REMOTELY
COAERS offices are temporarily closed to the public to safeguard the welfare of our staff and our members. As part of our business readiness plan, all functions of the organization, including investment management, have fully transitioned to remote operations to maintain seamless continuity of our services to members. COAERS will continue to assess the latest information from government and public health officials to update you when in-person operations will resume.
BENEFITS WILL BE PAID ON TIME
Your benefits are secure. COAERS will maintain continuity of retirement benefit payments as scheduled and without interruption. Our staff is working diligently to ensure all retirees and payees receive retirement benefits on time.
COAERS INVESTMENTS AND IMPACT ON THE FUND
While global financial markets have experienced significant fluctuations, the COAERS Trust Fund is invested for the long-term. COAERS has a highly diversified portfolio designed to withstand market volatility. Our prudent and strategic approach serves the long-term interests of our members by consistently achieving best-in-class results.
COAERS member accounts and benefits are not affected by swings in the market. It is important to remember that market upheavals do not affect the retirement benefit that you have earned. As we navigate through the current cycle, our Investment staff is meticulously monitoring the markets and we will continue to uphold COAERS’ mission to provide reliable retirement benefits. You can find more information about our Investment Policies at www.coaers.org/Investments.
COAERS continues to operate with the safety and security of your information in mind. As we work remotely, we want members to feel confident when sharing personal and confidential information through our secure file transfer portals. If you need to submit a form or document that contains personal or confidential information or have question about how to do so, please contact Member Services at (512) 458-2551 or email@example.com to learn about our secure file transfer option.
EDUCATIONAL SEMINARS AND EVENTS
While COAERS remains in remote operations as a result of COVID-19, all events and pre-retirement seminars have been postponed until further notice. Participants who previously registered for a seminar were notified with more information. If you have any questions about retirement, please contact our Member Services team for assistance at 512-458-2551 or firstname.lastname@example.org.
In the meantime, please click here to view our Pre-Retirement Seminar Presentation.
In the best interest of COAERS staff, members, and vendors, we have restricted all non-essential travel. Any travel deemed essential is being carried out with the utmost care and consideration.
The City of Austin and the State of Texas have important links and community resources available for residents to stay up to date on COVID-19.
For more information, please visit www.austintexas.gov/COVID19.
For information about COVID-19 from the State of Texas, visit gov.texas.gov/coronavirus.
WE’RE HERE FOR YOU
As always, the health and safety of the members of our community are our utmost priority. COAERS will continually monitor the COVID-19 situation and evaluate additional measures as needs arise. We will continue to communicate updates and changes here on our website at www.coaers.org/covid19 and on facebook.com/coaers.
We thank you for your understanding and patience.
FREQUENTLY ASKED QUESTIONS ABOUT COAERS AND COVID-19 RESPONSE