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Teachers Retirement System posts actuarial gain; funded status at 74.26%
Summary
Shawn Graham, executive director of the Montana Teachers Retirement System, told the Senate committee TRS earned an 8.89% return in FY24, improving funded status to 74.26% with an amortization period of 21 years; the TRS board is carrying two bills including a housekeeping bill and a university supplemental contribution measure.
Shawn Graham, executive director of the Montana Teachers Retirement System, told the Senate State Administration Committee on Jan. 14 that TRS’s consolidated assets stood at about $5.3 billion and that the system’s funded status improved to 74.26% as of the July 1, 2024, valuation.
Graham said TRS earned a market return of 8.89% for fiscal year 2024, above the plan’s assumed rate of 7.3%, which produced an actuarial gain that raised the funded ratio and shortened the amortization period from 24 years to 21 years. The board adopted the valuation results in October 2024; TRS is conducting an actuarial audit that Graham…
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