HELENA (AP) — A new report says the Montana public employee pension system's projected shortfall is growing larger.
Analysts hired by the Montana Public Employees Retirement Administration say past market losses and other factors remain a drag on the system.
The annual look at the pension system shows that the projected shortfall, known as the unfunded liability, has grown about 20 percent over the past year to $1.6 billion.
The analysts found that investments fared well over the past year, growing about 19 percent. But that wasn't enough to make up for past losses that are factored in over time, along with other issues.
A recent report on the other large pension system that covers teachers found its shortfall also went up significantly, for many of the same reasons.