Montana PERS Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Montana PERS, 2002-2019

Fiscal Year Net Assets (billions)
2002 2.6
2003 2.7
2004 3.0
2005 3.2
2006 3.5
2007 4.1
2008 3.9
2009 3.0
2010 3.3
2011 3.9
2012 3.9
2013 4.3
2014 4.9
2015 5.1
2016 5.0
2017 5.5
2018 5.8
2019 5.9

Source: Public Plans Database

Number of Actives per Annuitant, 2002-2019

Fiscal Year Montana PERS US State and Local Pensions
2002 2.1 2.4
2003 2.0 2.3
2004 1.9 2.2
2005 1.9 2.1
2006 1.8 2.1
2007 1.7 2.0
2008 1.7 2.0
2009 1.7 1.9
2010 1.7 1.8
2011 1.5 1.7
2012 1.5 1.6
2013 1.5 1.5
2014 1.4 1.5
2015 1.4 1.5
2016 1.3 1.4
2017 1.3 1.4
2018 1.3 1.3
2019 1.2 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Montana PERS, 2002-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2002 6.9 0.0 4.8 6.9 6.9
2003 7.0 0.1 5.7 7.1 7.1
2004 6.9 1.1 7.3 8.1 8.1
2005 6.9 1.5 9.0 8.4 8.4
2006 7.2 0.8 9.3 8.0 8.0
2007 7.3 0.0 10.0 6.9 6.9
2008 7.6 0.0 10.4 7.1 7.1
2009 7.6 2.3 10.2 9.9 9.9
2010 7.4 4.8 10.5 12.2 12.2
2011 7.4 6.1 12.5 13.5 13.5
2012 7.4 6.3 12.9 13.7 13.7
2013 7.4 0.5 13.9 7.8 7.8
2014 11.5 0.6 14.5 12.2 12.2
2015 11.7 0.0 14.9 11.4 11.4
2016 11.2 0.0 14.8 11.2 11.2
2017 10.7 0.0 15.1 10.7 10.7
2018 11.5 0.0 18.1 11.5 11.5
2019 11.4 0.9 18.8 12.2 12.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Montana PERS, 2002-2019

Fiscal Year Montana PERS National Data
2002 100.0 101.1
2003 92.9 94.2
2004 86.7 93.1
2005 85.5 91.1
2006 88.3 90.5
2007 91.1 91.2
2008 90.0 90.2
2009 84.0 83.2
2010 74.0 81.5
2011 70.0 80.4
2012 67.0 78.9
2013 80.0 78.7
2014 74.0 79.0
2015 76.0 78.2
2016 77.0 76.3
2017 73.0 76.4
2018 74.0 76.5
2019 74.0 76.1

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Montana PERS, 2019

Category Percent
Equities 46.1
Fixed Income 28.6
Private Equity 14.9
Real Estate 7.5
Cash 3.0
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Montana PERS, 2002-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2002 52.9 40.5 3.6 0.3 2.6 0.0 0.0 0.0 0.0
2003 57.2 34.2 5.6 0.3 2.8 0.0 0.0 0.0 0.0
2004 63.1 28.9 4.3 0.3 3.4 0.0 0.0 0.0 0.0
2005 62.9 30.4 4.7 0.3 1.8 0.0 0.0 0.0 0.0
2006 63.2 27.8 5.8 0.7 2.6 0.0 0.0 0.0 0.0
2007 62.4 25.0 7.7 1.9 2.7 0.0 0.0 0.0 0.0
2008 57.9 26.6 9.8 4.3 1.1 0.0 0.0 0.0 0.0
2009 52.4 30.1 11.3 4.9 0.9 0.0 0.0 0.0 0.0
2010 50.5 29.0 13.0 5.4 1.7 0.0 0.0 0.0 0.0
2011 55.0 24.6 12.3 6.5 1.5 0.0 0.0 0.0 0.0
2012 53.1 24.9 13.1 8.1 0.9 0.0 0.0 0.0 0.0
2013 54.9 22.1 12.5 9.2 1.3 0.0 0.0 0.0 0.0
2014 57.0 21.7 10.5 8.7 2.1 0.0 0.0 0.0 0.0
2015 56.3 22.3 10.7 8.8 1.8 0.0 0.0 0.0 0.0
2016 53.2 23.6 11.2 9.2 2.8 0.0 0.0 0.0 0.0
2017 52.6 27.4 12.5 7.6 0.0 0.0 0.0 0.0 0.0
2018 52.9 26.9 13.2 7.0 0.0 0.0 0.0 0.0 0.0
2019 46.1 28.6 14.9 7.5 3.0 0.0 0.0 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Montana PERS, 2002-2019

Fiscal Year Montana PERS Assumed return
2002 -7.23 8.00
2003 6.61 8.00
2004 13.43 8.00
2005 8.13 8.00
2006 9.07 8.00
2007 17.96 8.00
2008 -4.86 8.00
2009 -20.69 8.00
2010 12.87 7.75
2011 21.79 7.75
2012 2.41 7.75
2013 13.04 7.75
2014 17.16 7.75
2015 4.58 7.75
2016 2.07 7.75
2017 11.94 7.65
2018 8.85 7.65
2019 5.71 7.65

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Montana PERS
2002-2019

Fiscal Year Cash Flow Assets
2002 -11.4 2,564.5
2003 -36.0 2,695.8
2004 -27.2 3,029.9
2005 -32.4 3,242.4
2006 -16.3 3,519.8
2007 -47.2 4,102.1
2008 -52.4 3,852.5
2009 -59.7 2,996.5
2010 -69.0 3,313.9
2011 -89.4 3,939.9
2012 -109.4 3,921.8
2013 -127.6 4,299.2
2014 -88.7 4,942.9
2015 -107.0 5,061.1
2016 -129.5 5,032.8
2017 -151.7 5,472.6
2018 -171.8 5,780.0
2019 -197.6 5,903.3

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Montana PERS
2002-2019

Fiscal Year Montana PERS National Average
2002 -0.4 -2.3
2003 -1.3 -2.6
2004 -0.9 -1.7
2005 -1.0 -1.9
2006 -0.5 -1.9
2007 -1.2 -1.7
2008 -1.4 -1.9
2009 -2.0 -2.7
2010 -2.1 -2.9
2011 -2.3 -2.8
2012 -2.8 -3.1
2013 -3.0 -3.0
2014 -1.8 -2.7
2015 -2.1 -2.8
2016 -2.6 -3.0
2017 -2.8 -2.9
2018 -3.0 -2.4
2019 -3.3 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Montana PERS benefit descriptions.