TRS Contribution Rates, Interest Rates, and Median Average Salary


Click on any of the the section titles below to see more information. If you cannot find the information you need on this page, please contact TRS.

Updated June 5, 2017: The Member Account Interest chart below has been updated. Effective July 1, 2017, the interest rate credited to member accounts increases from 0.55% to 0.75%.


Employee Contribution Rates -- Current and Rate History

This table show the percentage an active TRS member pays on wages toward future retirement benefits. This rate is set by the Montana State Legislature; the current rates were set in the 2013 Legislative session.

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Start Date End Date Tier One Member Tier Two Member
7/1/2013 Present * 8.150% ** 8.150%
7/1/1999 6/30/2013 7.150% --
7/1/1983 6/30/1999 7.044% --
7/1/1977 6/30/1983 6.187% --
7/1/1975 6/30/1977 6.125% --
7/1/1973 6/30/1975 5.125% --
7/1/1937 6/30/1973 5.000% --

* Tier One: become a member before July 1, 2013
** Tier Two: became a member on or after July 1, 2013


Employer Contribution Rates -- Current and Rate History: School Districts, Education Cooperatives, Counties, and Community Colleges

This table shows the percentage each School District, Education Cooperative, County, and Community College pays on employee wages toward their employees' future retirement benefits. This rate is set by the Montana Legislature; the current rates were set in the 2013 Legislative session.

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Start Date End Date Active Members Working Retirees Working Retirees  HB 363*
7/1/2017 6/30/2018 8.870% 11.250% 19.51%
7/1/2016 6/30/2017 8.770% 11.150% 19.41%
7/1/2015 6/30/2016 8.670% 11.050% 19.31%
7/1/2014 6/30/2015 8.570% 10.950% 19.21%
7/1/2013 6/30/2014 8.470% 9.850% 19.11%
7/1/2009 6/30/2013 7.470% -- 17.11%
1/1/1994 6/30/2009 7.470% -- --
7/1/1989 12/31/1993 7.459% -- --
7/1/1985 6/30/1989 7.428% -- --
7/1/1983 6/30/1985 7.320% -- --
10/1/1981 6/30/1983 6.463% -- --
7/1/1981 9/30/1981 6.432% -- --
7/1/1977 6/30/1981 6.312% -- --
7/1/1975 6/30/1977 6.250% -- --
7/1/1973 6/30/1975 5.250% -- --
7/1/1971 6/30/1973 5.125% -- --
7/1/1969 6/30/1971 4.500% -- --
7/1/1959 6/30/1969 4.000% -- --
7/1/1945 6/30/1959 3.750% -- --
7/1/1937 6/30/1945 -- -- --

* Only school districts as defined in 20-6-101 and 20-6-701 are eligible to employ a TRS retiree under the provisions of HB 363 (19-20-732, MCA).


Employer Contribution Rates -- Current and Rate History: State Agencies and State University System

This table shows the percentage each State Agency and State University System unit pays on employee wages toward their employees' future retirement benefits. This rate is set by the Montana Legislature; the current rates were set in the 2013 Legislative session.

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Start Date End Date Active Members Working Retirees
7/1/2017 6/30/2018 11.250% 11.250%
7/1/2016 6/30/2017 11.150% 11.150%
7/1/2015 6/30/2016 11.050% 11.050%
7/1/2014 6/30/2015 10.950% 10.950%
7/1/2013 6/30/2014 10.850% 9.850%
7/1/2009 6/30/2013 9.850% --
7/1/2007 6/30/2009 9.470% --
1/1/1994 6/30/2007 7.470% --
7/1/1989 12/31/1993 7.459% --
7/1/1985 6/30/1989 7.428% --
7/1/1983 6/30/1985 7.320% --
10/1/1981 6/30/1983 6.463% --
7/1/1981 9/30/1981 6.432% --
7/1/1977 6/30/1981 6.312% --
7/1/1975 6/30/1977 6.250% --
7/1/1973 6/30/1975 5.250% --
7/1/1971 6/30/1973 5.125% --
7/1/1969 6/30/1971 4.500% --
7/1/1959 6/30/1969 4.000% --
7/1/1945 6/30/1959 3.759% --
7/1/1937 6/30/1945 -- --

Actuarial Rates -- Current and Rate History

This table shows the assumed rate of return for TRS investment earnings. The rate of return is set by the TRS Board based on data and recommendations from independent actuaries.

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Start Date End Date Percent
7/1/2004 Present 7.75%
Beginning 6/30/2004 8.00%

Member Account Interest -- Current and Rate History

TRS members contribute a portion of their gross salary to TRS. These funds are tracked in the member's contribution account. The interest rate is set annually by the TRS Board.

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Start Date End Date Percent
7/1/2017 Present 0.75%
7/1/2016 6/30/2017 0.55%
7/1/2014 6/30/2016 0.20%
7/1/2010 6/30/2014 0.25%
7/1/2009 6/30/2010 1.00%
7/1/2008 6/30/2009 2.00%
7/1/2007 6/30/2008 5.00%
7/1/2003 6/30/2007 4.00%
7/1/2002 6/30/2003 4.50%
7/1/1997 6/30/2002 5.50%
7/1/1993 6/30/1997 6.00%
7/1/1988 6/30/1993 7.00%
7/1/1982 6/30/1988 8.00%
7/1/1981 6/30/1982 7.00%
7/1/1971 6/30/1981 5.50%
7/1/1970 6/30/1971 5.25%
7/1/1969 6/30/1970 5.00%
7/1/1968 6/30/1969 4.75%
7/1/1967 6/30/1968 4.50%
7/1/1966 6/30/1967 4.25%
7/1/1963 6/30/1966 4.00%
7/1/1959 6/30/1963 3.50%
7/1/1955 6/30/1959 3.00%
7/1/1943 6/30/1955 2.50%
7/1/1939 6/30/1943 3.00%
7/1/1937 6/30/1939 4.00%

Median Average Salary -- Current and Salary History

Each year, TRS calculates the median average salary of members who retired in the preceding fiscal year. This is used to calculate postretirement earnings limitations.

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Year Median Salary 1/3 Median Salary
7/1/2016 60,240.13 20,080.04
7/1/2015 59,138.00 19,712.67
7/1/2014 60,737.70 20,245.90
7/1/2013 57,756.65 19,252.21
7/1/2012 57,510.85 19,170.28
7/1/2011 56,863.57 18,954.52
7/1/2010 55,887.49 18,629.16
7/1/2009 52,710.67 17,570.22
7/1/2008 53,311.55 17,770.52
7/1/2007 51,336.65 17,112.22
7/1/2006 48,353.45 16,117.82
7/1/2005 47,417.01 15,805.67
7/1/2004 47,942.54 15,980.85
7/1/2003 45,290.43 15,096.81
7/1/2002 45,304.46 15,101.48
7/1/2001 45,528.45 15,176.15
7/1/2000 43,945.06 14,648.35
7/1/1999 40,639.42 13,546.47
7/1/1998 40,465.86 13,488.62
7/1/1997 40,681.52 13,560.51
7/1/1996 36,846.00 12,282.00
7/1/1995 35,989.37 11,996.46
7/1/1994 37,209.19 12,403.06
7/1/1993 34,876.33 11,625.45
7/1/1992 33,704.42 11,234.81
7/1/1991 34,277.88 11,425.96
7/1/1990 30,512.28 10,170.76
7/1/1989 30,839.78 10,279.93
7/1/1988 30,274.51 10,091.51
7/1/1987 28,532.10 9,510.70
7/1/1986 26,867.50 8,955.84
7/1/1985 25,585.33 8,528.44
7/1/1984 23,136.83 7,712.28
7/1/1983 $18,174.24 $6,058.08

 

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