The City of Austin Employees Retirement System (COAERS) is a defined benefit plan that provides retirement, disability, and death benefits for City of Austin employees and their beneficiaries. COAERS serves more than 10,000 active members and more than 7,000 retirees and surviving beneficiaries. As of September 2021, the assets of the Fund totaled $3.4 billion. COAERS was established in 1941 by City ordinance. Since 1991, COAERS has been governed by Texas state law (Article 6243n, Vernon's Texas Civil Statutes).