Last verified 2026-10-01

Montana PERS — assets, returns and funding

Q: How much does Montana PERS have in assets?

Montana PERS reported $7.6bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

Q: What return did Montana PERS make on its investments?

Montana PERS reported a 9.5% one-year investment return for fiscal year 2025, and 7.9% a year over the past ten years, per the Public Plans Database.

Q: Is Montana PERS fully funded?

Montana PERS was 74.5% funded for fiscal year 2025 — below the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).

Q: How is Montana PERS's money invested?

Montana PERS held 41.8% of its assets in public equities and 20.3% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).

Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge

Newest reported year for this plan: fiscal year 2025 — public plans publish audited figures 6–12 months after year end, and the database compiles them in batches, so this is the current public record, not a stale copy.

Montana PERS (Montana) reported $7.6bn of assets for fiscal year 2025, a one-year investment return of 9.5%, and was 74.5% funded — below the ~80% mark the industry reads as sound.

Total assets (FY 2025)	$7.6bn
1-year return	9.5%
5-year return (annualised)	9.6%
10-year return (annualised)	7.9%
Funded ratio (GASB)	74.5%

How the money is invested (asset allocation)

Montana PERS held 41.8% of its assets in public equities and 20.3% in fixed income (bonds) for fiscal year 2025 — the largest of 7 sleeves it reports, with the rest below:

Public equities	41.8%
Fixed income (bonds)	20.3%
Private equity	17.3%
Real estate	11.9%
Commodities	6.1%
Cash	2.6%
Hedge funds	0.0%

The plans most worth reading Montana PERS against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:

Plan	Assets	1-yr return	Funded ratio	Why comparable
Montana Teachers	$5.4bn	9.4%	73.4%	Same state — Montana
Montana Firefighters	$787m	9.5%	84.8%	Same state — Montana
Montana Municipal Police	$690m	9.5%	74.6%	Same state — Montana
New York City (NY) Educational	$7.6bn	10.5%	94.8%	Similar size
Missouri PEERS	$7.6bn	10.9%	89.9%	Similar size
Utah Public Safety and Fire	$7.8bn	7.5%	98.2%	Similar size

Questions this page answers

How much does Montana PERS have in assets?

Montana PERS reported $7.6bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.

What return did Montana PERS make on its investments?

Montana PERS reported a 9.5% one-year investment return for fiscal year 2025, and 7.9% a year over the past ten years, per the Public Plans Database.

Is Montana PERS fully funded?

Montana PERS was 74.5% funded for fiscal year 2025 — below the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).

How is Montana PERS's money invested?

Montana PERS held 41.8% of its assets in public equities and 20.3% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).

Figures as reported for fiscal year 2025 · Data: Public Plans Database (Center for Retirement Research at Boston College / MissionSquare Research Institute / NASRA) — used with attribution under its non-commercial terms · Refresh: quarterly pull, annual figures · Limitations: public plans report with a lag — FY figures arrive months after year end; returns are as reported by the plan, net/gross basis varies by plan

See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.