1099-Rs for 2023 Taxes
12/20/2023
In compliance with IRS regulations, State Street Retiree Services will complete the mailing of all 1099-Rs for 2023 by January 31, 2024. Please note that you may receive your 1099-R after this date due to processing time within the postal service.
The AFRF Benefits Department will be able to provide digital copies of 1099-Rs after February 1, 2024.
State Street Retiree Services will begin issuing corrected tax forms on February 2, 2024. Corrected 1099-Rs will have the “Corrected” box checked after State Street has reported the information to the IRS. The turnaround time for corrected 1099-R requests is approximately 2 business days.
Members who have moved out of state in 2023 will typically receive two 1099-Rs to capture income earned while in each state. Combining the totals reported on both forms will provide the annual amount needed for tax filing. If there is any issue with the time periods reported for the two states, please contact the AFRF Benefits Department to correct the state codes. The turnaround time for state code corrections is approximately 5-7 business days.
Read more about
1099-Rs for 2023 Taxes
Update on 2024 COLA
12/6/2023
At the November 2023 Board meeting, AFRF's actuary determined that a COLA cannot be supported under the Fund’s COLA Policy, based on the Fund’s amortization period exceeding the 25-year maximum set forth in the policy for financial stability assessment. The Board is bound by its COLA Policy and its actuary’s recommendation and therefore was unable to grant a COLA for 2024. It was a difficult decision for the Board given the continued inflationary pressure on our retirees. Please see the actuary’s COLA Policy Analysis below and feel free to reach out to staff if you have any questions. Striving to provide COLAs, when affordable, remains one of the top priorities of the Board.
Read more about
Update on 2024 COLA
Retiree Open Enrollment
10/10/2023
Open Enrollment for retiree health insurance has begun. The open enrollment period runs through Sunday, November 5, 2023. Benefit changes are effective January 1, 2024, with any deduction changes reflected on January 25, 2024, annuity payments.
Read more about
Retiree Open Enrollment
Summer Newsletter
8/31/2023
The Austin Firefighters Retirement Fund staff is pleased to announce the release of our second issue of the recently redesigned AFRF News.
Read more about
Summer Newsletter
2023 Trustee Election Nominations
8/21/2023
Austin Firefighters Retirement Fund will be accepting candidate nominations for one position on the AFRF Board of Trustees. The term for this elected trustee position will begin on January 1, 2024, and end December 31, 2026. Trustee elections are open to both active and retired firefighters.
Read more about
2023 Trustee Election Nominations
RFP for IPPE
7/21/2023
On July 21, 2023, the Austin Firefighters Retirement Fund issued a Request for Proposals (RFP) to seek an independent consultant to perform an Investment Practices and Performance Evaluation (IPPE) for the Fund. The IPPE is required by state law for retirement systems with over $100 million in assets and will be due to the Pension Review Board (PRB) in June 2024.
Read more about
RFP for IPPE
RFI for Depository Bank
6/2/2023
On May 24, 2023, the Austin Firefighters Retirement Fund issued a Request for Information (RFI) to evaluate current offerings for depository banks. The goal of the RFI is to ensure that the Fund continually has access to high quality banking and payment services.
Read more about
RFI for Depository Bank