Executive Director's Corner
March 7, 2018
One of the most important things we do here at ERS is making monthly annuity payments to retirees like you. In fact, we think about it as job one! Each month, more than 100,000 retirees and their beneficiaries depend on us to make their annuity payments. This amounts to more than $2 billion in annuities each year.
We have a dedicated staff of professionals who work hard to make sure the right people get paid the right amount at the right time.
Our annuity payroll staff took extra steps to make sure people who had to leave their homes during Hurricane Harvey were paid on time. Mailed checks were promptly rerouted to new addresses, so those who had moved got their money as soon as possible.
These ERS staff members also are in charge of paying such benefits as partial lump sum options, retirement account withdrawals and payments to survivors of certain professionals and volunteers killed in the line of duty. (Payments to the last group come directly from the State of Texas, not from the ERS Retirement Trust Fund. ERS processes the payments.) They usually process about 400 new retirements per month. This involves auditing about 33,000 payroll transactions each year to make sure the payments are accurate.
These staff members also are responsible for the 1099-R form you get during tax season every year. One of the biggest annual projects is mailing about 120,000 1099-R forms to those who got payments from ERS. You can also access the form online.
As they perform these big, important jobs, the staff consistently receives high ratings for customer service. Members who participate in our customer service surveys say they are very satisfied with the service and delivery of retirement payments.
This is just one way ERS works to fulfill its mission of delivering quality service to you every day.