Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.43 - PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter 2.43.51 - Deferred Compensation (457) Plan
Rule 2.43.5102 - ADOPTION OF INVESTMENT POLICY STATEMENT AND FIXED FUND INVESTMENT POLICY STATEMENT

(1) The board adopts and incorporates by reference the State of Montana 457 Plan (deferred compensation) Investment Policy Statement approved by the board on April 11, 2024. The Investment Policy Statement provides investment guidelines for the 457(b) deferred compensation plan, a supplemental retirement-savings vehicle that permits participants to invest on either a pre-tax or a tax-deferred basis. The investment guidelines help the board to meet its fiduciary responsibilities to evaluate and positively influence the direction of the plan and its investments for the benefit of the plan participants and beneficiaries.

(2) The board adopts and incorporates by reference the Montana Fixed Fund Investment Policy Statement approved by the board on February 10, 2022. These guidelines apply to the investment of 401(a) defined contribution plan participant assets and 457(b) deferred compensation plan participant assets that are pooled together in the plans' stable value group trust. The investment policy statement was developed through mutual agreement amongst the board, the investment manager, and the insurance wrap providers and provides guidance to the investment manager advisor when investing participants' funds contained within the stable value group trust.

(3) Copies of the 457 Plan Investment Policy Statement and the Montana Fixed Fund Investment Policy Statement may be obtained from MPERA, 100 North Park Avenue, Suite 200, P.O. Box 200131, Helena, MT 59620-0131, phone 1 (877) 275-7372, e-mail mpera@mt.gov. The documents are also available online at www.mpera.mt.gov.