Montana's PERS and TRS Face Substantial Deficits

July 22, 2005 ( - Montana's two largest retirement systems, the Public Employees' Retirement System (PERS) and the Teachers Retirement System (TRS), face a potential deficit of $1.2 million.

Managers of the systems asked the state’s legislature for a financial bailout, the Associated Press reports, but a Senate committee stopped the legislation.  

The governor’s budget director, David Ewer, wants more time to study the causes of the pensions’ trouble, according to the AP.  

Ewer said the governor’s administration may ask lawmakers, during a special legislative session in December, to contribute one-time money into one or both retirement systems. The AP reports that he also proposed ending incentives for early retirement, and bringing back a more thorough process of reviewing proposed retirement bills before legislative sessions.