How many public pension plans does Montana have?

Montana has 2 public pension plans tracked by the Public Plans Database (PPD), covering 148,206 total members. These plans include state-level and local government retirement systems for teachers, police, firefighters, and general employees.

Is Montana's pension system in crisis?

Montana's public pension plans average 62.5% funded (#46 of 51, 13.0 points below the national average) with combined unfunded liability $9.50B. Bottom-third average funding and 1 D/F grades mark a thinner statewide book. Data is sourced from the Boston College Center for Retirement Research.

What is the average funded ratio in Montana?

The average funded ratio across all 2 public pension plans in Montana is 62.5% (#46 of 51 among states), based on the most recent Public Plans Database data. A funded ratio of 100% means a plan has sufficient assets to meet all projected obligations. The national average for public pensions is approximately 75.5%. Individual plan ratios in Montana vary; browse the table above to compare specific plans.

Public Plans Database

Montana Public Pension Plans

Name: Montana Public Pension Plans
Creator: Boston College Center for Retirement Research
License: https://www.usa.gov/government-copyright

2 plans · bottom-third average funded ratio (#46 of 51)

Lower funded-ratio band. Montana ranks #46 of 51 by average actuarial funded ratio (62.5%), bottom-third among states with a published average.

Avg funded ratio: 62.5%
Total unfunded: $9.50B
Total members: 148,206
Plans tracked: 2

According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Montana’s 2 tracked plans carry a combined unfunded liability of $9.50B at an average funded ratio of 62.5%. Plan cards report FY2023 valuations; this site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.

PPD actuarial excerpt

State roster MT Montana

Montana: avg 62.5% funded (13.0 points below the national average) · 1 D/F grades · unfunded $9.50B

AVG 62.5%
UNF $9.50B
MEM 148,206
N 2
DF 1
VS -13.0pt
BEST 69.0%
LOW 56.1%

Funded-ratio peers

Nearest funded-ratio peer: Rhode Island (60.7%)

Average funded ratio neighbourhood vs Montana (FY2023 plan cards)

1 of 2 published-ratio plans sit under 60% actuarial assets; 1 of 2 carry a D or F health grade. How funded ratios are calculated →

Montana in the lower-funded third

Health grades and the 62.5% state average (#46 of 51, 13.0 points below the national average) use the same FY2023 plan-card snapshot as the hero KPIs and the table below.

Health-grade counts from the same state plan rows as the roster table

Source: Public Plans Database (Boston College CRR / NASRA) As of FY2023 plan cards; history through FY2024

Average actuarial funded ratio across 2 Montana plans (FY2023 plan cards)

Plan types in Montana

Aggregates from the same FY2023 plan-card rows as the roster below. Averages include only plans that report a funded ratio.

Type	Plans	Avg funded	Members	Assets	Unfunded
Teachers	1	69.0%	39,454	$4.92B	$2.21B
General State	1	56.1%	108,752	$9.29B	$7.28B

Every tracked plan in Montana

FY2023 plan-card snapshot from the Public Plans Database. ARC is the actuarially required contribution as a share of payroll where reported.

Plan	Type	Funded	Grade	Assets	Unfunded	Members	ARC	1yr return
Montana Teachers Retirement System	Teachers	69.0%	C	$4.92B	$2.21B	39,454	100.0%	8.9%
Montana Public Employees Retirement Board and Administration	General State	56.1%	D	$9.29B	$7.28B	108,752	98.6%	7.8%

Read our methodology - how this data is sourced, computed, and verified.

Compare inside Montana’s lower-funded roster

Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by PlainPension · Montana roster FY2023

Compiled by PlainPension, Pension Fund Health Editorial Process · July 23, 2026