Montana State Legislature

HJ 8: Interim Study of Montana's Public Employee Retirement Systems

HJ 8: Provide for a Study of Pension Laws

• Study Resolution (PDF)
• Tasks & Directions in Study Resolution
• LAWS Page

Background Materials and Resources

2021-2022 Interim

• HJ 8 Final Report
• FY22 Green Sheets
• Dashboard of Pension Systems Data (FY17-FY22)
• FY21 Green Sheets
• Pension Acronyms & Glossary
• NASRA Public Fund Survey (FY 21)
  • NASRA Public Fund Survey - Appendix A (FY21)
  • NASRA Public Fund Survey - Appendix B (FY 21)
• August 2022 Outline of HJ 8 Final Report
• May 2022 Spreadsheet - Statutory Appropriations from the General Fund to DB Pension Systems
  • May 2022 Handout - Individual System General Fund Contributions
• Teachers' Retirement System Experience Study (2016-2021)
• Montana Public Employee' Retirement Administration Experience Study (2016-2021)
• March 2022 Staff Briefing Paper - Pension Plan Design
• March 2022 Staff Briefing Paper - Pension Amortization Policy
• March 2022 MUS-RP Brief Timeline & Legislative History
  • 2006 History and Operation of the MUS-RP
  • 2020 MUS-RP Valuation Results
• December 2021 Game Wardens' and Peace Officers' Retirement System (GWPORS) Overview
• November 2021 10-State Comparison Spreadsheet
• August 2021 Staff Briefing Memo - Montana's Public Employee Retirement Systems
• August 2021 Brief History of Montana's Public Employee Pension Systems

Additional Background Materials

• FY 2020 Green Sheets - Summary Tables of Actuarial and Investment Data
• 2020 Legislator's Guide to Montana's Public Employee Retirement Systems
• 2018 Where We've Been: Historical Overview of Funding & Benefit Changes in Montana's Public Employee Retirement Systems
• 2018 Topic Primer - Public Pension Plans: Benefits & Contributions
• 2018 Topic Primer - Public Pension Plan Design & Funding Reform

Montana's Public Employee Retirement Systems - Defined Benefit Plans

• Teachers' Retirement System (TRS)
• Public Employee Retirement System (PERS) - Defined Benefit Retirement Plan (DBRP)
• Firefighters' Unified Retirement System (FURS)
• Highway Patrol Officers' Retirement System (HPORS)
• Game Wardens' and Peace Officers' Retirement System (GWPORS)
• Judges' Retirement System (JRS)
• Municipal Police Officers' Retirement System (MPORS)
• Sheriffs' Retirement System (SRS)
• Volunteer Firefighters' Compensation Act (VFCA)

Montana's Public Employee Retirement Systems - Defined Contribution Plans

• Public Employee Retirement System (PERS) - Defined Contribution Retirement Plan (DCRP)
• Montana University System Retirement Program (MUS-RP)

Montana's Public Employee Retirement Systems - Deferred Compensation (457) Plan

• 457 (b) Deferred Compensation Plan

Agency Websites

• Montana Public Employee Retirement Administration (MPERA)
• Teachers' Retirement System (TRS)
• Montana Board of Investments

August 25, 2021 Presentation Materials & Speaker Handouts

• Brief History of MT Public Pensions - Rebecca Power, Legislative Research Analyst
• Teachers' Retirement System - Shawn Graham, TRS Executive Director
• Montana Public Employees' Retirement Administration - Dore Schwinden, MPERA Executive Director
• Montana Board of Investments - Dan Villa, Board of Investments Executive Director

November 4, 2021 Presentation Materials & Speaker Handouts

• Legislature & SAVA Role in Pension Oversight - Rebecca Power, Legislative Research Analyst
• Legislative Audit Division (LAD) Role in Pension Oversight - Kelly Zwang, Audit Supervisor, Financial-Compliance Audits
• Legislative Fiscal Division (LFD) Role in Pension Oversight - Sam Schaefer, Lead Fiscal Analyst - Revenues
• Pension Boards' Role in Pension Oversight: TRS Board & PER Board - Shawn Graham, TRS Executive Director & Dore Schwinden, MPERA Executive Director

December 16, 2021 Presentation Materials & Speaker Handouts

• Game Wardens' and Peace Officers' Retirement System (GWPORS) Overview - Dore Schwinden, MPERA Executive Director & William Holahan, MPERA Deputy Director
• TRS Actuarial Valuation Results as of July 1, 2021 - Shawn Graham, TRS Executive Director
• MPERA Actuarial Valuation Results as of July 1, 2021 - Dore Schwinden, MPERA Executive Director & William Holahan, MPERA Deputy Director

March 24, 2022 Presentation Materials & Speaker Handouts

• Presentation - Keith Brainard, Research Director, National Association of State Retirement Administrators (NASRA)
  • In-Depth: Risk Sharing in Public Retirement Plans (NASRA)
  • 2016 NASRA Resolution re. Guiding Principles for Public Retirement System Plan Design and Sustainability
• Presentation - Dan Doonan, Executive Director, National Institute on Retirement Security (NIRS)
  • A Better Bang for the Buck 3.0: Post-Retirement Experience Drives Pension Cost Advantage (NIRS)
  • The Hybrid Handbook: Not all Hybrids are Created Equal (NIRS)
• Presentation - Hank Kim, Executive Director & Counsel, National Conference on Public Employee Retirement Systems (NCPERS)
  • 2021 NCPERS Public Retirement Systems Study
  • Enhancing Sustainability of Public Pensions (NCPERS)
• Presentation - Alex Brown, Research Manager, National Association of State Retirement Administrators (NASRA)
  • Actuarial Funding Policies and Practices for Public Pension Plans
• Presentation - Todd Green, President, Cavanaugh Macdonald Consulting, LLC

May 25, 2022 Presentation Materials & Speaker Handouts

• Presentation: TRS & MPERA Experience Study Results - Todd Green, President, Cavanaugh Macdonald Consulting, LLC

August 10-11, 2022 Presentation Materials & Speaker Handouts

• Presentation: Montana Board of Investments - Dan Villa, BOI Executive Director
• TRS Bill Draft Proposals - Shawn Graham, TRS Executive Director
• MPERA Bill Draft Proposals - Dore Schwinden, MPERA Executive Director & William Holahan, MPERA Deputy Director

October 24, 2022 Presentation Materials & Speaker Handouts

• Presentation: TRS Valuation Results - Shawn Graham, TRS Executive Director
• Presentation: MPERA Valuation Results - Dore Schwinden, MPERA Executive Director & William Holahan, MPERA Deputy Director