This summer, COAERS welcomed University of Texas at Austin student Katelyn McAlliter as part of the second year of the COAERS Internship Program.

Over the course of the eight-week internship, Katelyn gained hands-on experience across multiple departments, explored how retirement benefits are managed, learned how investment strategies support long-term financial security for public employees, participated in mentorship opportunities, and completed a capstone project.

Read on to learn more about Katelyn's experience and what she gained during her time at COAERS.

Visit www.coaers.org/internship to learn more about the COAERS Internship Program.

 

Get to Know the Intern: Katelyn McAlister

 

Tell us about yourself and your background

I grew up in Spring, Texas, just outside of Houston, and I have a younger brother and an older sister. For the past two years, I’ve lived in Austin while attending college, and one of my favorite things about the city is its active, outdoors-oriented culture. I’ve enjoyed checking a few items off my Austin bucket list, including paddleboarding on Lady Bird Lake, visiting Barton Springs, and watching the bats emerge from under the Congress Avenue Bridge.

 

What are you currently studying and why?

I am currently studying Finance at The University of Texas at Austin with a minor in Philosophy of Law. I chose finance because it offers a broad range of career opportunities and can be applied across many industries, from personal financial planning to large-scale corporate finance.

While finance is my primary area of study, I’ve always been interested in understanding how organizations operate and how different business functions work together. My rotation through the operations at COAERS expanded my knowledge of the pension industry and exposed me to a variety of operational and strategic functions.

Before starting this internship, I knew very little about the retirement and pension industry. By asking questions, participating in projects, and learning from staff across the organization, I gained a much deeper understanding of how retirement systems operate and how different departments collaborate to serve members.

 

What inspired you to apply for an internship at COAERS? 

As I enter my junior year, I felt it was the right time to begin gaining professional experience and exploring potential career paths. I wanted an opportunity to build new skills, learn how organizations operate, and better understand where my interests fit within the business world.

COAERS stood out because of its rotational internship program, which offers exposure to a variety of departments, including finance, investments, operations, governance, and member services. The opportunity to learn about multiple areas of the organization rather than just one allowed me to develop a more well-rounded understanding of business and the pension industry.

 

What’s one project or task you’ve really enjoyed working on so far? 

Two experiences stand out from my internship. The first was participating in Member Services week and attending member outreach events. These experiences gave me the opportunity to interact directly with members and see firsthand the impact COAERS has on their retirement planning.

I also especially enjoyed Investment week. As a finance student, it was fascinating to learn about investment strategies, decision-making processes, and how investment performance supports the long-term goals of the pension fund.

Experiencing both the member-facing and operational sides of the organization gave me a well-rounded perspective on how COAERS fulfills its mission and serves its members.

 

Have you learned anything surprising about the pension industry? 

Before joining COAERS, I didn’t realize how much strategy, oversight, and governance are involved in managing a public pension fund. Through various projects, I learned how governance practices can shape public perception and how COAERS compares with peer organizations across key performance indicators.

I also gained a stronger understanding of retirement plan structures, including the differences between defined contribution plans and defined benefit plans. Through peer comparison projects and Pension Review Board training sessions, I learned more about benefit structures, funding models, and asset allocation strategies used by retirement systems across Texas.

My time with Member Services showed me how important the member experience is and reinforced the idea that every department contributes to COAERS’ mission and overall success.

 

How has this internship shaped your understanding of retirement planning or financial wellness? 

This internship has given me a greater appreciation for the value of retirement planning and financial wellness. One of the most important lessons I learned is that retirement planning is a lifelong process and not something that should be postponed until later in life.

I also gained a better understanding of the differences between defined benefit and defined contribution plans. Learning how these plans support retirement security helped me appreciate the important role pension systems play in providing long-term financial stability for their members.

In addition, the financial wellness seminars introduced practical personal finance concepts that I can apply in my own life and future career.

 

What skills have you developed or strengthened during your time here? 

One of the biggest skills I’ve developed is the ability to step outside of my comfort zone. Many of the projects I worked on were completely new to me, which required me to adapt quickly, ask questions, and learn as I went.

I also strengthened my ability to receive and apply feedback constructively. The COAERS team has been incredibly supportive throughout my internship, providing guidance that helped me grow both personally and professionally.

As a result, I’ve become more confident in my abilities, more comfortable seeking help when needed, and more willing to take on new challenges.

 

What’s one piece of advice you’ve received during your internship that stuck with you?

The advice that has stayed with me most is to ask more questions and be willing to take one more risk.

The COAERS team created an environment where curiosity was encouraged, which allowed me to explore topics that interested me and take ownership of additional projects. Having the freedom to dive deeper into subjects and conduct independent research made the experience especially rewarding.

The internship covers so many different areas that each week could almost serve as its own capstone project. By taking initiative and embracing opportunities to learn, I gained far more knowledge and experience than I initially expected.

 

What’s one piece of advice you would give advice to future interns at COAERS? 

My biggest piece of advice is simple: ask questions.

An internship is an opportunity to learn, and the more questions you ask, the more you will gain from the experience. Early on, I was sometimes hesitant to ask people about their career paths, daily responsibilities, or why they chose their current roles. Over time, I realized that those conversations often provided some of the most valuable insights.

Working in a professional environment is very different from learning in a classroom. By being curious and engaging with the people around you, you’ll develop a better understanding of the organization, build meaningful relationships, and discover new interests that can help shape your future career path.