Welcome, New Employees!
Welcome to the City of Austin Employees Retirement System. One of the many benefits included with your employment as a regular, full-time City of Austin employee is the prospect of a secure retirement through your membership in COAERS. As a part of your City employment, your enrollment in the retirement system is automatic..
Your retirement program is a defined benefit plan, where you contribute a portion of your salary each pay period into a retirement account that COAERS manages and invests for you. As a tax-qualified "defined benefit" plan under Section 401(a) of the Internal Revenue Code, the COAERS plan promises a monthly retirement benefit that is based on a predetermined formula. One of the best things about a defined benefit plan like COAERS is that the ups and downs of the market do not affect the benefit promised. Once retired, you'll receive a steady monthly payment for your lifetime. Another advantage of the plan is that member contributions are tax deferred. While you are working, your retirement contributions lower your taxable income. Once retired, members receive a steady monthly payment for life.
COAERS is governed by an eleven-member Board of Trustees who provide oversight and set policy. Trustees include active members like you, retirees, citizens, and city officials. In addition to our Board, we have a staff of employees ready to assist you.
More information about your COAERS benefits is available in the Member Handbook. There you will find important information to help you learn about the System and plan for your future retirement.