Montana’s public employees pension fund and its teachers pension fund are facing shortfalls of almost $2 billion each, according to an Associated Press report.
To prevent the teachers pension fund from going broke by 2055, the state will have to funnel $633 million into it. The fund currently faces a $1.8 billion shortfall, according to an annual actuarial report.
The public employees pension fund is facing a $1.6 billion shortfall. Its unfunded pension liability grew by 20% over the past year, according to local news reports.
The results of the actuarial analysis showed that while the pension system’s investments grew by 19% as of June 30, compared to the previous year, the increase was not enough to make up for past losses.
