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, 2002-2018

Fiscal Year Net Assets (billions)
2002 2.0
2003 2.1
2004 2.4
2005 2.5
2006 2.7
2007 3.2
2008 3.0
2009 2.3
2010 2.5
2011 3.0
2012 2.9
2013 3.2
2014 3.7
2015 3.7
2016 3.7
2017 4.0
2018 4.1

Source: Public Plans Database

Number of Actives per Annuitant, 2002-2018

Fiscal Year Montana Teachers US State and Local Pensions
2002 1.8 2.4
2003 1.8 2.3
2004 1.7 2.2
2005 1.6 2.1
2006 1.6 2.1
2007 1.6 2.0
2008 1.5 2.0
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 1.5
2015 1.2 1.4
2016 1.2 1.4
2017 1.2 1.4
2018 1.2 1.4

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 Teachers, 2002-2018

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 7.6 0.0 5.5 7.6 7.6
2003 7.8 0.0 6.3 7.8 7.8
2004 7.6 0.0 7.8 7.6 7.6
2005 7.6 0.0 9.5 7.6 7.6
2006 23.3 0.0 10.5 10.4 10.4
2007 17.0 0.0 11.4 14.5 14.5
2008 11.8 0.0 11.9 11.8 11.8
2009 11.9 0.0 12.2 11.9 11.9
2010 12.0 0.2 14.7 12.2 12.2
2011 12.1 0.2 16.7 12.3 12.3
2012 12.1 2.7 17.7 14.8 14.8
2013 12.3 5.2 19.1 17.6 17.6
2014 19.8 0.0 20.2 19.8 19.8
2015 17.0 0.0 20.2 17.0 17.0
2016 16.7 0.0 20.3 16.7 16.7
2017 16.7 0.0 20.6 16.7 16.7
2018 16.8 0.0 21.0 16.8 16.8

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Montana Teachers, 2002-2018

Fiscal Year Montana Teachers National Data
2002 86.6 96.9
2003 82.0 93.1
2004 76.6 89.4
2005 73.4 85.5
2006 76.1 84.8
2007 79.6 85.3
2008 79.9 83.7
2009 66.2 78.6
2010 65.4 75.5
2011 61.5 72.8
2012 59.2 69.9
2013 66.8 68.9
2014 65.5 70.5
2015 67.5 70.7
2016 69.3 70.2
2017 70.5 71.4
2018 68.2 72.7

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 Teachers, 2018

Category Percent
Equities 54.0
Fixed Income 23.5
Private Equity 11.1
Real Estate 7.2
Cash 1.7
Other 0.2
Commodities 2.4
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Montana Teachers, 2002-2018

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 63.3 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 55.0 24.7 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 23.5 11.1 7.2 1.7 0.2 2.4 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Montana Teachers, 2002-2018

Fiscal Year Montana Teachers Assumed return
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

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Montana Teachers
2002-2018

Fiscal Year Cash Flow Assets
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 -78.7 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

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Montana Teachers
2002-2018

Fiscal Year Montana Teachers National Average
2002 -1.9 -3.3
2003 -2.1 -3.6
2004 -2.1 -3.4
2005 -2.3 -3.5
2006 1.2 -3.3
2007 -0.7 -3.1
2008 -2.1 -4.0
2009 -3.4 -4.9
2010 -2.9 -4.9
2011 -3.0 -4.2
2012 -3.6 -4.3
2013 -3.8 -4.3
2014 -2.0 -3.4
2015 -2.9 -3.2
2016 -3.4 -3.5
2017 -3.4 -3.3
2018 -3.5 -3.1

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Montana Teachers benefit descriptions.