19-2-407. Reports. (1) As soon as practical after the close of each fiscal year, the board shall file with the governor and with the legislature pursuant to 5-11-210 a report of its work for that fiscal year. The report must include but is not limited to:
(a) a statement as to the accumulated cash and securities in the pension trust funds as certified by the state treasurer and the board of investments;
(b) a summary of the most recent information available from the actuary concerning the actuarial valuation of the assets and liabilities of each system or plan; and
(c) an analysis of how market performance is affecting actuarial funding of each of the retirement systems or plans.
(2) The report required under subsection (1) must also provide information concerning the defined contribution plan, including a description of the plan, the number of members in the plan, plan contribution rates, the total amount of money invested by members, investment performance, administrative costs and fees, and other information required under applicable governmental accounting standards and as determined by the board.
History: En. 68-1803 by Sec. 20, Ch. 323, L. 1973; amd. Sec. 4, Ch. 132, L. 1977; amd. Sec. 9, Ch. 332, L. 1977; R.C.M. 1947, 68-1803(2); amd. Sec. 9, Ch. 265, L. 1993; Sec. 19-3-306, MCA 1991; redes. 19-2-407 by Sec. 238, Ch. 265, L. 1993; amd. Sec. 10, Ch. 471, L. 1999; amd. Sec. 8, Ch. 562, L. 1999; amd. Sec. 6, Ch. 285, L. 2007; amd. Sec. 2, Ch. 170, L. 2015.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 2. Public Employees' Retirement General Provisions
19-2-402. Compensation of board members
19-2-403. Powers and duties of board
19-2-404. Appointment and compensation of administrative staff
19-2-405. Employment of actuary -- annual investigation and valuation
19-2-406. Disability retirement -- application -- determination -- benefit conversion -- rules
19-2-408. Administrative expenses
19-2-409. Plans to be funded on actuarially sound basis -- definition