Montana Teachers Basics

  • Established 1937
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Montana Teachers, 2001-2022

Fiscal Year Net Assets (billions)
2001 2.24
2002 2.04
2003 2.12
2004 2.35
2005 2.49
2006 2.75
2007 3.21
2008 2.99
2009 2.30
2010 2.52
2011 2.97
2012 2.93
2013 3.19
2014 3.65
2015 3.71
2016 3.66
2017 3.95
2018 4.15
2019 4.22
2020 4.17
2021 5.12
2022 4.72

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2022

Fiscal Year Montana Teachers US State and Local Pensions
2001 1.9 2.4
2002 1.8 2.3
2003 1.8 2.2
2004 1.7 2.1
2005 1.6 2.1
2006 1.6 2.0
2007 1.6 2.0
2008 1.5 1.9
2009 1.5 1.9
2010 1.5 1.8
2011 1.4 1.7
2012 1.3 1.6
2013 1.3 1.5
2014 1.2 1.4
2015 1.2 1.4
2016 1.2 1.4
2017 1.2 1.4
2018 1.2 1.3
2019 1.2 1.3
2020 1.1 1.3
2021 1.2 1.2
2022 1.1 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Montana Teachers, 2001-2022

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 null 0.0 5.9 null
2002 7.6 0.0 5.6 7.6
2003 7.8 0.0 6.3 7.8
2004 7.6 0.0 7.8 7.6
2005 7.6 0.0 9.5 7.6
2006 23.3 0.0 10.5 10.4
2007 17.0 0.0 11.4 14.5
2008 11.8 0.0 11.9 11.8
2009 11.9 0.0 12.1 11.9
2010 12.0 0.2 14.7 12.2
2011 12.1 0.2 16.7 12.3
2012 12.1 2.7 17.7 14.8
2013 12.3 5.2 19.0 17.6
2014 19.8 0.0 19.8 19.8
2015 17.0 0.0 20.2 17.0
2016 16.7 0.0 20.3 16.7
2017 16.7 0.0 20.4 16.7
2018 16.8 0.0 20.9 16.8
2019 16.7 0.0 21.2 16.7
2020 16.8 0.0 20.5 16.8
2021 16.3 0.0 21.6 16.3
2022 16.4 0.0 21.5 16.4

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Montana Teachers, 2001-2022

Fiscal Year Montana Teachers National Data
2001 null 101.7
2002 86.6 94.8
2003 84.9 89.0
2004 76.6 87.2
2005 73.4 85.4
2006 76.1 85.3
2007 79.6 86.3
2008 79.9 84.4
2009 66.2 78.4
2010 65.4 75.7
2011 61.5 74.3
2012 59.2 72.3
2013 66.8 71.9
2014 65.5 73.2
2015 67.5 73.2
2016 69.3 71.6
2017 70.5 72.1
2018 68.2 72.4
2019 68.6 72.5
2020 68.8 72.7
2021 71.4 76.2
2022 71.7 77.1

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Montana Teachers, 2022

Category Percent
Equities 44.1
Fixed Income 19.4
Private Equity 17.2
Real Estate 12.6
Cash 1.3
Other 0.0
Commodities 5.5
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2022

Category Percent
Equities 42.7
Fixed Income 20.8
Private Equity 13.0
Real Estate 10.2
Cash 2.1
Other 0.6
Commodities 2.3
Hedge Fund 6.5
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Montana Teachers, 2001-2022

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 49.4 38.8 8.0 0.3 3.5 0.0 0.0 0.0 0.0
2002 53.0 40.6 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 63.3 30.3 5.7 0.7 0.0 0.0 0.0 0.0 0.0
2007 62.0 24.0 8.0 3.0 3.0 0.0 0.0 0.0 0.0
2008 58.0 26.0 10.0 5.0 1.0 0.0 0.0 0.0 0.0
2009 53.0 29.0 11.0 6.0 1.0 0.0 0.0 0.0 0.0
2010 51.0 28.0 13.0 5.0 2.0 1.0 0.0 0.0 0.0
2011 55.2 24.8 12.0 7.0 1.0 0.0 0.0 0.0 0.0
2012 53.0 25.0 13.0 8.0 1.0 0.0 0.0 0.0 0.0
2013 54.9 22.2 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 56.2 22.3 10.7 8.8 1.9 0.0 0.0 0.0 0.0
2016 53.2 23.7 11.2 9.3 2.7 0.0 0.0 0.0 0.0
2017 53.9 24.5 10.7 7.7 1.1 0.0 2.1 0.0 0.0
2018 54.0 23.7 11.1 7.2 1.7 0.0 2.4 0.0 0.0
2019 47.5 26.4 12.3 7.7 3.1 0.0 3.0 0.0 0.0
2020 48.7 24.7 13.2 8.7 1.6 0.0 3.1 0.0 0.0
2021 48.3 20.7 14.7 9.3 2.5 0.0 4.5 0.0 0.0
2022 44.1 19.4 17.2 12.6 1.3 0.0 5.5 0.0 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Montana Teachers, 2001-2022

Fiscal Year Montana Teachers Assumed return
2001 -5.05 8.00
2002 -7.20 8.00
2003 6.46 8.00
2004 13.51 7.75
2005 8.19 7.75
2006 9.05 7.75
2007 17.94 7.75
2008 -4.89 7.75
2009 -20.67 7.75
2010 12.84 7.75
2011 21.83 7.75
2012 2.42 7.75
2013 13.06 7.75
2014 17.17 7.75
2015 4.60 7.75
2016 2.08 7.75
2017 11.92 7.75
2018 8.82 7.50
2019 5.69 7.50
2020 2.73 7.50
2021 27.71 7.50
2022 -4.33 7.30

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Montana Teachers
2001-2022

Fiscal Year Cash Flow Assets
2001 -26.0 2,239.2
2002 -37.9 2,041.7
2003 -44.3 2,123.6
2004 -50.6 2,354.8
2005 -56.4 2,487.1
2006 33.8 2,745.8
2007 -21.2 3,209.3
2008 -62.6 2,993.4
2009 -92.9 2,301.6
2010 -74.0 2,521.4
2011 -88.1 2,972.4
2012 -106.6 2,932.2
2013 -120.9 3,185.1
2014 -73.2 3,652.2
2015 -108.3 3,708.4
2016 -123.1 3,656.8
2017 -133.1 3,950.8
2018 -146.4 4,148.3
2019 -156.0 4,220.3
2020 -165.0 4,167.8
2021 -181.7 5,116.8
2022 -185.0 4,724.4

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
Montana Teachers
2001-2022

Fiscal Year Montana Teachers National Average
2001 -1.2 -2.0
2002 -1.9 -2.4
2003 -2.1 -2.6
2004 -2.1 -1.8
2005 -2.3 -2.2
2006 1.2 -2.2
2007 -0.7 -2.0
2008 -2.1 -2.2
2009 -4.0 -3.1
2010 -2.9 -3.2
2011 -3.0 -3.0
2012 -3.6 -3.2
2013 -3.8 -3.1
2014 -2.0 -2.9
2015 -2.9 -2.7
2016 -3.4 -2.9
2017 -3.4 -2.8
2018 -3.5 -2.4
2019 -3.7 -2.4
2020 -4.0 -2.3
2021 -3.6 -2.0
2022 -3.9 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Montana Teachers benefit descriptions.