Panel to examine Montana pension system

From the CBS affiliate in Billings:

A new state panel meets for the first time today, to begin improving communications among the three boards that oversee the state pension systems in Montana.

The Joint Issues Committee was created by the governor's office. It includes two members each from the Board of Investments, the Public Employees Retirement Board and the Teachers Retirement Board.

Unlike other states, where pension boards invest retirement money and administer benefits, the state pension systems in Montana divide those duties. The boards of the two retirement systems administer retirement benefits, while the Board of Investments is charged with investing the money paid in.