U.S. Pension Tracker

Joe Nation, Ph.D.

Pension Tracker Project Director
Bill Lane Center for the West

The Bottom 25% (Lowest quartile) indicates relatively lower unfunded liabilities. The Top 25% (Highest quartile) indicates relatively higher unfunded liabilities. Metrics reflect the Fiscal Year selected. Agencies reported as NA or agencies for which we do not have geographic locations are excluded from calculations. See Glossary for additional information.

Data reflect Fiscal Year (FY) 2019, the most recent available.

Montana, All State and Local Systems

PDF Excel Excel
Plan : From year: to
Detailed Table

Assets, Liabilities and Unfunded Liabilities

Variable 2017 2018 2019
Market Liability (thousands) $17,216,080 $16,959,893 $17,536,409
Value of Assets (thousands) $7,003,905 $7,443,879 $7,652,953
Market Pension Debt (thousands) $10,212,175 $9,516,014 $9,883,456
Market Discount Rate 3.00% 3.25% 3.25%
Actuarial Liability (thousands) $9,580,619 $9,858,514 $10,193,634
Actuarial Pension Debt (thousands) $2,576,714 $2,414,635 $2,540,680
Assumed Rate of Return 7.75% 7.65% 7.65%
  • Variable

    Market Liability (thousands)

    • 2019

      $17,536,409

    • 2018

      $16,959,893

    • 2017

      $17,216,080

    • 2016

      $25,511,741

    • 2015

      $23,585,650

    • 2014

      $24,394,494

    • 2013

      $20,477,770

    • 2012

      $23,963,249

    • 2011

      $18,741,260

    • 2010

      $18,732,198

    • 2009

      $16,307,625

    • 2008

      $14,881,498


  • Variable

    Value of Assets (thousands)

    • 2019

      $7,652,953

    • 2018

      $7,443,879

    • 2017

      $7,003,905

    • 2016

      $10,066,825

    • 2015

      $10,119,686

    • 2014

      $9,869,500

    • 2013

      $8,569,337

    • 2012

      $7,810,654

    • 2011

      $7,837,311

    • 2010

      $6,591,212

    • 2009

      $5,956,351

    • 2008

      $7,658,332


  • Variable

    Market Pension Debt (thousands)

    • 2019

      $9,883,456

    • 2018

      $9,516,014

    • 2017

      $10,212,175

    • 2016

      $15,444,917

    • 2015

      $13,465,963

    • 2014

      $14,524,994

    • 2013

      $11,908,433

    • 2012

      $16,152,595

    • 2011

      $10,903,949

    • 2010

      $12,140,986

    • 2009

      $10,351,274

    • 2008

      $7,223,166


  • Variable

    Market Discount Rate

    • 2019

      3.25%

    • 2018

      3.25%

    • 2017

      3.00%

    • 2016

      3.00%

    • 2015

      3.25%

    • 2014

      3.00%

    • 2013

      3.20%

    • 2012

      2.50%

    • 2011

      4.00%

    • 2010

      3.70%

    • 2009

      4.20%

    • 2008

      4.50%


  • Variable

    Actuarial Liability (thousands)

    • 2019

      $10,193,634

    • 2018

      $9,858,514

    • 2017

      $9,580,619

    • 2016

      $14,197,092

    • 2015

      $13,545,468

    • 2014

      $12,976,903

    • 2013

      $11,269,421

    • 2012

      $11,907,975

    • 2011

      $11,413,626

    • 2010

      $11,030,122

    • 2009

      $10,271,023

    • 2008

      $9,692,433


  • Variable

    Actuarial Pension Debt (thousands)

    • 2019

      $2,540,680

    • 2018

      $2,414,635

    • 2017

      $2,576,714

    • 2016

      $4,130,267

    • 2015

      $3,425,781

    • 2014

      $3,107,403

    • 2013

      $2,700,084

    • 2012

      $4,097,321

    • 2011

      $3,576,315

    • 2010

      $4,438,910

    • 2009

      $4,314,672

    • 2008

      $2,034,101


  • Variable

    Assumed Rate of Return

    • 2019

      7.65%

    • 2018

      7.65%

    • 2017

      7.75%

    • 2016

      7.75%

    • 2015

      7.75%

    • 2014

      7.75%

    • 2013

      7.75%

    • 2012

      7.75%

    • 2011

      7.75%

    • 2010

      7.75%

    • 2009

      7.75%

    • 2008

      7.75%


*Recommended not to combine dollar and other categories.

Funded Ratios

Variable 2017 2018 2019
Market Funded Ratio 40.7% 43.9% 43.6%
Actuarial Funded Ratio 73.1% 75.5% 75.1%
  • Variable

    Market Funded Ratio

    • 2019

      43.6%

    • 2018

      43.9%

    • 2017

      40.7%

    • 2016

      39.5%

    • 2015

      42.9%

    • 2014

      40.5%

    • 2013

      41.9%

    • 2012

      32.6%

    • 2011

      41.8%

    • 2010

      35.2%

    • 2009

      36.5%

    • 2008

      51.5%


  • Variable

    Actuarial Funded Ratio

    • 2019

      75.1%

    • 2018

      75.5%

    • 2017

      73.1%

    • 2016

      70.9%

    • 2015

      74.7%

    • 2014

      76.1%

    • 2013

      76.0%

    • 2012

      65.6%

    • 2011

      68.7%

    • 2010

      59.8%

    • 2009

      58.0%

    • 2008

      79.0%


*Recommended not to combine dollar and other categories.

State Demographics

Variable 2017 2018 2019
Population 1,050,493 1,062,305 1,068,778
Households 423,091 423,240 427,871
  • Variable

    Population

    • 2019

      1,068,778

    • 2018

      1,062,305

    • 2017

      1,050,493

    • 2016

      1,042,520

    • 2015

      1,032,949

    • 2014

      1,023,252

    • 2013

      1,014,402

    • 2012

      1,005,163

    • 2011

      997,661

    • 2010

      990,575

    • 2009

      491,991

    • 2008

      488,208


  • Variable

    Households

    • 2019

      427,871

    • 2018

      423,240

    • 2017

      423,091

    • 2016

      416,125

    • 2015

      414,857

    • 2014

      410,962

    • 2013

      406,288

    • 2012

      408,938

    • 2011

      404,250

    • 2010

      402,747

    • 2009

      375,287

    • 2008

      375,598


*Recommended not to combine dollar and other categories.

Budget & Revenue

Variable 2017 2018 2019
State General Fund Expenditures (thousands) $2,333,000 $2,242,000 $2,303,980
State Total Expenditures (thousands) $6,957,000 $6,952,000 $7,173,621
State Total General Fund Revenues (thousands) $2,140,900 $2,405,447 $2,573,621
  • Variable

    State General Fund Expenditures (thousands)

    • 2019

      $2,303,980

    • 2018

      $2,242,000

    • 2017

      $2,333,000

    • 2016

      $2,237,000

    • 2015

      $2,138,000

    • 2014

      $2,041,000

    • 2013

      $1,947,000

    • 2012

      $1,764,000

    • 2011

      $1,701,000

    • 2010

      $1,628,000

    • 2009

      $1,753,000

    • 2008

      $1,901,000


  • Variable

    State Total Expenditures (thousands)

    • 2019

      $7,173,621

    • 2018

      $6,952,000

    • 2017

      $6,957,000

    • 2016

      $6,384,000

    • 2015

      $6,383,000

    • 2014

      $6,188,000

    • 2013

      $6,040,000

    • 2012

      $5,919,000

    • 2011

      $6,164,000

    • 2010

      $6,049,000

    • 2009

      $5,526,000

    • 2008

      $5,357,000


  • Variable

    State Total General Fund Revenues (thousands)

    • 2019

      $2,573,621

    • 2018

      $2,405,447

    • 2017

      $2,140,900

    • 2016

      $2,121,000

    • 2015

      $2,200,000

    • 2014

      $2,077,000

    • 2013

      $2,078,000

    • 2012

      $1,871,000

    • 2011

      $1,783,000

    • 2010

      $1,627,000

    • 2009

      $1,808,000

    • 2008

      $1,954,000


*Recommended not to combine dollar and other categories.

Unfunded Liability Metrics

Variable 2017 2018 2019
Market Pension Debt/Household $24,137 $22,484 $23,099
Market Pension Debt/Capita $9,721 $8,958 $9,247
Market Pension Debt/State General Fund Expenditures 4.38 4.24 4.29
Market Pension Debt/State Total Expenditures 1.47 1.37 1.38
Market Pension Debt/State Total General Fund Revenues 4.77 3.96 3.84
Actuarial Pension Debt/Household $6,090 $5,705 $5,938
Actuarial Pension Debt/Capita $2,453 $2,273 $2,377
Actuarial Pension Debt/State General Fund Expenditures 1.10 1.08 1.10
Actuarial Pension Debt/State Total Expenditures 0.37 0.35 0.35
Actuarial Pension Debt/State Total General Fund Revenues 1.20 1.00 0.99
  • Variable

    Market Pension Debt/Household

    • 2019

      $23,099

    • 2018

      $22,484

    • 2017

      $24,137

    • 2016

      $37,116

    • 2015

      $32,459

    • 2014

      $35,344

    • 2013

      $29,310

    • 2012

      $39,499

    • 2011

      $26,973

    • 2010

      $30,145

    • 2009

      $27,582

    • 2008

      $19,231


  • Variable

    Market Pension Debt/Capita

    • 2019

      $9,247

    • 2018

      $8,958

    • 2017

      $9,721

    • 2016

      $14,815

    • 2015

      $13,036

    • 2014

      $14,195

    • 2013

      $11,739

    • 2012

      $16,070

    • 2011

      $10,930

    • 2010

      $12,257

    • 2009

      $21,040

    • 2008

      $14,795


  • Variable

    Market Pension Debt/State General Fund Expenditures

    • 2019

      4.29

    • 2018

      4.24

    • 2017

      4.38

    • 2016

      6.90

    • 2015

      6.30

    • 2014

      7.12

    • 2013

      6.12

    • 2012

      9.16

    • 2011

      6.41

    • 2010

      7.46

    • 2009

      5.90

    • 2008

      3.80


  • Variable

    Market Pension Debt/State Total Expenditures

    • 2019

      1.38

    • 2018

      1.37

    • 2017

      1.47

    • 2016

      2.42

    • 2015

      2.11

    • 2014

      2.35

    • 2013

      1.97

    • 2012

      2.73

    • 2011

      1.77

    • 2010

      2.01

    • 2009

      1.87

    • 2008

      1.35


  • Variable

    Market Pension Debt/State Total General Fund Revenues

    • 2019

      3.84

    • 2018

      3.96

    • 2017

      4.77

    • 2016

      7.28

    • 2015

      6.12

    • 2014

      6.99

    • 2013

      5.73

    • 2012

      8.63

    • 2011

      6.12

    • 2010

      7.46

    • 2009

      5.73

    • 2008

      3.70


  • Variable

    Actuarial Pension Debt/Household

    • 2019

      $5,938

    • 2018

      $5,705

    • 2017

      $6,090

    • 2016

      $9,926

    • 2015

      $8,258

    • 2014

      $7,561

    • 2013

      $6,646

    • 2012

      $10,019

    • 2011

      $8,847

    • 2010

      $11,022

    • 2009

      $11,497

    • 2008

      $5,416


  • Variable

    Actuarial Pension Debt/Capita

    • 2019

      $2,377

    • 2018

      $2,273

    • 2017

      $2,453

    • 2016

      $3,962

    • 2015

      $3,317

    • 2014

      $3,037

    • 2013

      $2,662

    • 2012

      $4,076

    • 2011

      $3,585

    • 2010

      $4,481

    • 2009

      $8,770

    • 2008

      $4,166


  • Variable

    Actuarial Pension Debt/State General Fund Expenditures

    • 2019

      1.10

    • 2018

      1.08

    • 2017

      1.10

    • 2016

      1.85

    • 2015

      1.60

    • 2014

      1.52

    • 2013

      1.39

    • 2012

      2.32

    • 2011

      2.10

    • 2010

      2.73

    • 2009

      2.46

    • 2008

      1.07


  • Variable

    Actuarial Pension Debt/State Total Expenditures

    • 2019

      0.35

    • 2018

      0.35

    • 2017

      0.37

    • 2016

      0.65

    • 2015

      0.54

    • 2014

      0.50

    • 2013

      0.45

    • 2012

      0.69

    • 2011

      0.58

    • 2010

      0.73

    • 2009

      0.78

    • 2008

      0.38


  • Variable

    Actuarial Pension Debt/State Total General Fund Revenues

    • 2019

      0.99

    • 2018

      1.00

    • 2017

      1.20

    • 2016

      1.95

    • 2015

      1.56

    • 2014

      1.50

    • 2013

      1.30

    • 2012

      2.19

    • 2011

      2.01

    • 2010

      2.73

    • 2009

      2.39

    • 2008

      1.04


*Recommended not to combine dollar and other categories.

Pension Tracker

Bill Lane Center for the West
473 Via Ortega, First Floor
Stanford, CA 94305-4225
Contact