TRS Annual Reports


Each link below opens a pdf file for that particular report. You must have Adobe Reader installed on your computer to view and download pdf files. You can download this program, free of charge, by linking to the Adobe download site.


Actuarial Valuations, Audits, and Experience Studies

Actuarial valuations are used to determine contributions to the pension system so that -- if contributed consistently and combined with investment earnings -- the funds are sufficient to pay promised benefits in full over the long-term; and to measure the plan's funding progress. (GFOA Best Practices). Actuarial valuations are based on statistical studies and experienced judgment derived from long-term data and used to estimate future liabilities..

Valuations for Montana Teachers' Retirement System

Valuations for Montana University System

Experience Studies

Experience studies are used to review and compare the actuarial assumptions and real experience of the pension system in past years

Actuarial Audits

In order to provide verification of the TRS actuaries, an independent firm is hired to do an actuarial audit to analyze the assumptions, procedures, methods, and conclusions used in preparing annual valuations.

  • April 2015: Audit performed by Gabriel Roeder Smith & Company
  • April 2015: Response to audit by Cavanaugh Macdonald Consulting, LLC

Comprehensive Annual Financial Reports

Annual TRS financial reports that comply with accounting standards set by the Governmental Accounting Standards Board (GASB). The standards for the CAFR reports have recently been changed and so the financial reports in 2014 will differ than those in the past. The annual CAFR is audited by the Montana Legislative Audit Staff.


Government Accounting and Standards Board (GASB) 67 and 68 Reporting

The Governmental Accounting and Standards Board (GASB) released two new standards in June 2012 for revised accounting and financial reporting related to public pension plans, GASB 67 and GASB 68. For more detailed information about these new standards, please visit the TRS GASB page.

GASB 67 Reports (for inclusion in the TRS CAFR only)
GASB 68 Reports (for use by TRS employers)

 

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