Montana State Legislature
Montana State Fund
MONTANA STATE FUND
Agency Leadership
Holly O'Dell, President & CEO
Appointed by the Board of Directors
Agency Website
Agency Overview
Montana State Fund (MSF) is the state's largest workers' compensation insurance company, protecting approximately 25,000 businesses, organizations and their workers.
Provides a guaranteed market, meaning MSF must write workers' compensation policies, regardless of the risk presented, unless a requester has defaulted on a state fund obligation. MSF serves as one option for any employer that wants workers' compensation in addition to private insurance and self-insurance.
MSF is a non-profit, independent public corporation, per 39-71-2313, MCA; is subject to a legislative directive to "be neither more nor less than self-supporting" (39-71-2311, MCA), and enabled under 39-71-2316, MCA, to "perform all functions and exercise all powers of a private insurance carrier that are necessary, appropriate, or convenient for the administration of the state fund."
Board of Directors
Appointed by the Governor
| Name | Term Expires |
|---|---|
| Richard Miltenberger, Chair | 03/31/2025 |
| Nancy Butler | 03/31/2027 |
| Karen Fagg | 03/31/2025 |
| Wylie Galt | 03/31/2027 |
| Michael Marsh | 03/31/2025 |
| John Maxness | 03/31/2025 |
| Dexter Thiel | 03/31/2027 |
Legislative Audits
MSF Financial-Compliance Audit (23C-15); July 2023
MSF Financial-Compliance Audit (22-05); August 2022
Statutorily Required Reports to Economic Affairs
- 07/11/2023: Montana State Fund Annual Report Annual Report; use in accordance with 5-5-223 MCA; 2023 Report
Reports to the Legislature Related to Economic Affairs
Meeting Participation
July 2023:
- Montana State Fund Duties/Responsibilities Agency Overview
