PERB of Montana administers pension and other benefits for substantially all public employees in the state except teachers. The System administers eight defined benefit plans, an optional 457 plan, and an optional core DC retirement plan established as an alternative to the DB plan. More than 80% of active members belong to the PERS Plan, which covers general employees of the state and participating political subdivisions. Assets are managed by the Montana State Board of Investments. The alternative DC plan was approved in 2002 by the Montana Legislature.
Montana Public Employees Retirement Board Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Montana PERS |
7,210.0 |
57,821 |
| Other Plans |
2,316.0 |
35,982 |
| Total |
9,526.0 |
93,803 |
Source: Public Plans Database (as of 2021)
Note: Montana Public Employees Retirement Board has 7 other plans.
Assets
Assets at Year-End
Montana Public Employees Retirement Board
2001-2021
| Fiscal Year |
Net Assets (billions) |
| 2001 |
3.3 |
| 2002 |
3.1 |
| 2003 |
3.2 |
| 2004 |
3.6 |
| 2005 |
3.9 |
| 2006 |
4.3 |
| 2007 |
5.0 |
| 2008 |
4.7 |
| 2009 |
3.7 |
| 2010 |
4.1 |
| 2011 |
4.9 |
| 2012 |
4.9 |
| 2013 |
5.4 |
| 2014 |
6.3 |
| 2015 |
6.4 |
| 2016 |
6.4 |
| 2017 |
7.0 |
| 2018 |
7.5 |
| 2019 |
7.7 |
| 2020 |
7.7 |
| 2021 |
9.5 |
Membership
Ratio of Actives to Beneficiaries, 2001-2021
| Fiscal Year |
Montana Public Employees Retirement Board |
US State and Local Pensions |
| 2001 |
2.1 |
2.4 |
| 2002 |
2.1 |
2.3 |
| 2003 |
2.0 |
2.2 |
| 2004 |
1.9 |
2.1 |
| 2005 |
1.9 |
2.1 |
| 2006 |
1.8 |
2.0 |
| 2007 |
1.8 |
2.0 |
| 2008 |
1.7 |
1.9 |
| 2009 |
1.7 |
1.9 |
| 2010 |
1.7 |
1.8 |
| 2011 |
1.6 |
1.7 |
| 2012 |
1.6 |
1.6 |
| 2013 |
1.5 |
1.5 |
| 2014 |
1.4 |
1.4 |
| 2015 |
1.4 |
1.4 |
| 2016 |
1.4 |
1.4 |
| 2017 |
1.4 |
1.4 |
| 2018 |
1.3 |
1.3 |
| 2019 |
1.3 |
1.3 |
| 2020 |
1.3 |
1.3 |
| 2021 |
1.2 |
1.3 |
2021 Membership for Montana Public Employees Retirement Board
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 35,435 |
29,191 |
5,776 |
93,803 |
881 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Montana Public Employees Retirement Board
2001-2021
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-0.8 |
3,316.8 |
| 2002 |
-8.1 |
3,069.0 |
| 2003 |
-31.6 |
3,240.5 |
| 2004 |
-22.7 |
3,649.6 |
| 2005 |
-27.9 |
3,916.2 |
| 2006 |
-10.9 |
4,258.3 |
| 2007 |
-40.5 |
4,977.9 |
| 2008 |
-45.8 |
4,692.6 |
| 2009 |
-50.1 |
3,674.6 |
| 2010 |
-53.5 |
4,092.4 |
| 2011 |
-79.6 |
4,894.1 |
| 2012 |
-101.0 |
4,907.9 |
| 2013 |
-123.0 |
5,415.9 |
| 2014 |
-83.5 |
6,253.3 |
| 2015 |
-103.9 |
6,434.2 |
| 2016 |
-128.5 |
6,435.6 |
| 2017 |
-155.7 |
7,035.5 |
| 2018 |
-173.2 |
7,477.8 |
| 2019 |
-205.0 |
7,687.7 |
| 2020 |
-221.4 |
7,677.3 |
| 2021 |
-243.5 |
9,526.0 |
2021 Cash Flows for Montana Public Employees Retirement Board (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 380.2 |
623.7 |
2,092.2 |
1,848.7 |
Cash Flow as a Percentage of Assets
Montana Public Employees Retirement Board
2001-2021
| Fiscal Year |
Montana Public Employees Retirement Board |
National Average |
| 2001 |
0.0 |
-2.1 |
| 2002 |
-0.3 |
-2.4 |
| 2003 |
-1.0 |
-2.6 |
| 2004 |
-0.6 |
-2.0 |
| 2005 |
-0.7 |
-2.2 |
| 2006 |
-0.3 |
-2.2 |
| 2007 |
-0.8 |
-2.1 |
| 2008 |
-1.0 |
-2.3 |
| 2009 |
-1.4 |
-3.1 |
| 2010 |
-1.3 |
-3.2 |
| 2011 |
-1.6 |
-3.1 |
| 2012 |
-2.1 |
-3.3 |
| 2013 |
-2.3 |
-3.2 |
| 2014 |
-1.3 |
-2.9 |
| 2015 |
-1.6 |
-2.8 |
| 2016 |
-2.0 |
-3.0 |
| 2017 |
-2.2 |
-2.9 |
| 2018 |
-2.3 |
-2.6 |
| 2019 |
-2.7 |
-2.6 |
| 2020 |
-2.9 |
-2.4 |
| 2021 |
-2.6 |
-2.1 |
