The Board

Created by the Montana legislature in 1972, the Board functions as an independent, quasi-judicial board with full and final authority over its three missions as prescribed by law: the Unified Investment Program, the Coal Tax Trust In-State Loan Program, and the Municipal Bond Program.  Members serve with two paramount concepts in mind – Fiduciary Responsibility and Prudent Expert Principle.

The Board is comprised of nine voting members appointed by the Governor and provide a balance of professional expertise and public interest representing: 

• Montana law
• Public Employees' Retirement Board 
• Teachers' Retirement Board 
• Financial Community
• Small Business
• Agriculture
• Labor
• Two ex officio, nonvoting legislative liaisons 
  • One Senator appointed by the President of the Senate
  • One Representative appointed by the Speaker of the House
  • the liaisons may not be from the same political party