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Montana public-pension administrator reports stronger returns but PERS funded under 80%
Summary
Bill Holahan, executive director of the Montana Public Employee Retirement Administration, told the Senate State Administration Committee on Jan. 14 that the agency oversees more than $10.5 billion in combined assets and that the largest public-employee plan, PERS, is about 75.72% funded.
Bill Holahan, executive director of the Montana Public Employee Retirement Administration, told the Senate State Administration Committee on Jan. 14 that the agency oversees more than $10.5 billion in combined assets and pays retirement, disability and survivor benefits to more than 33,000 recipients.
Holahan said the agency’s largest plan, the Public Employees’ Retirement System (PERS), held roughly $7.3 billion in defined benefit assets as of the June 30, 2024, valuation and had a funded ratio of about 75.72%. That system currently amortizes its unfunded liability over 27 years, Holahan said.
The PERS funding picture matters to local governments and school districts because contributions are set by statute and supplementing state appropriations. Holahan told senators that contributions for fiscal year 2024 were collected from a 7.9% employee contribution rate and a 9.17%…
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