Welcome to the Austin Police Retirement System's Member Resources area. As life expectancies increase, many people will find themselves spending up to one-third of their life in retirement - that is why it is so important to plan! Members are encouraged to use this section to learn about the various retirement benefits available, calculate their benefits and have access to necessary Pension Office forms.
Steps to Retirement
Some of the most important financial decisions you will make in your lifetime are deciding when to retire and choosing your pension benefit options. By educating yourself on the retirement process, you are already taking an important step toward planning your retirement!
Annuity Options
Upon notice of your retirement, you will be required to choose the option best suited for you and your financial needs. This will be an irrevocable option. It is important that you understand the characteristics of each option so that you can select the one best suited for your particular needs.
Calculator
This benefit calculator is for use in determining what an estimated benefit of retirement is by rank (officer, detective, sergeant, lieutenant, and commander), using the current salary wage scale adopted by the Austin Police Association 'Meet and Confer Team' and the City of Austin.
Service Credit Purchases
There are six types of service credits that members may be able to purchase.
Proportionate Retirement
Participating systems recognize service from other participating systems. A member with service credit in more than one participating retirement system may be eligible to combine that service in order to satisfy the length of service requirements used to determine eligibility for service retirement.
Forms
The following forms have been provided for APRS member convenience.
DROP
The retroactive deferred retirement option plan, referred to as RETRO DROP Option, is a one-time benefit paid at retirement with a reduced monthly retirement benefit. The DROP is a way to take a lump sum amount in retirement pay and still receive a monthly annuity.
PROP
The PROP account is an investment vehicle that was established to allow members to elect to roll their lump sum DROP monies and/or defer their monthly pension benefit into it and earn a rate of return to be established by APRS annually.
FAQs
In order to assist you in researching your specific area of interest, the Board has provided this Frequently Asked Questions (FAQ) section. If you have a question that is not covered here, submit your own question.
Links
This section will provide links to several related information sites.