Teachers' Retirement System, Department of Administration, a Component Unit of the State of Montana : Financial Audit for the Fiscal Year Ended June 30 .. 2001
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As of June 30, 2000. there were no legal risks that the Board was aware of regarding any All Other Funds investments. Compensated Absences Compensated absences represent 100 percent of accrued vacation and 25 percent of accrued sick leave for TRS personnel at June 30. 2001 and June 30. 2000. NOTE B. DESCRIPTION OF PLAN The TRS is the governing body of a mandatory multiple-employer cost-sharing defined benefit pension plan, which provides retirement services to all persons in Montana employed as... teachers or professional staff of any public elementary or secondary school, colleges of technology or unit of the university system. The system was established by the state of Montana in 1937 to provide, retirement, death and disability benefits and is governed by Title 19, chapter 20, of the MCA. At June 30. 2001 , the number and type of reporting entities participating in the system were as follows: Local School Districts 384 Community Colleges 3 University System Units & Colleges of Technology 5 State Agencies 8 Total 400 At June 30, 2001.
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