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Equabli, Inc. Announces Successful Completion of Funding Round

Retrieved on: 
Tuesday, July 11, 2023

AUSTIN, Texas, July 11, 2023 /PRNewswire/ -- Equabli, Inc., a leading financial technology company, is pleased to announce the successful completion of its recent round of financing.

Key Points: 
  • AUSTIN, Texas, July 11, 2023 /PRNewswire/ -- Equabli, Inc., a leading financial technology company, is pleased to announce the successful completion of its recent round of financing.
  • The funding round secured $3.35M of additional capital and was led by Social Leverage.
  • Additional commitments were received by BankTech Ventures and Cross River Digital Ventures.
  • "We are excited to have successfully concluded this round of funding," said Cody Owens, Equabli's CEO.

Report Finds K-12 Pension Debt Costs Threaten Education Equity in Florida

Retrieved on: 
Tuesday, January 31, 2023

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Florida.

Key Points: 
  • NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Florida.
  • The report, titled Pension Debt Challenges for Equity in Education: The Effect of Teacher Unfunded Liability Costs on K–12 Education Funding in Florida , found that growing unfunded pension liabilities for teachers and other school employees have silently undermined Florida's ability to improve education outcomes for students and inequitable impacts on teachers through growing, unpredictable costs and regressive funding policies that effectively subsidize wealthy districts.
  • An increasing share of state and local K–12 education spending has been siphoned off to cover pension costs, even after major changes to the Florida Retirement System in 2012.
  • This report is one of four reports detailing the impact of unique pension debt challenges facing state education budgets across the U.S.

Report Finds K-12 Pension Debt Costs Threaten Education Equity in Texas

Retrieved on: 
Tuesday, January 31, 2023

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Texas.

Key Points: 
  • NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Equable Institute and Opportunity Institute have released new research exploring the effect of teacher pension debt on education resource equity in Texas.
  • The report, titled Pension Debt Challenges for Equity in Education: The Effect of Teacher Unfunded Liability Costs on K–12 Education Funding in Texas , found that growing unfunded pension liabilities for teachers and other school employees have silently undermined Texas' ability to improve education outcomes for students and inequitable impacts on teachers through growing costs and regressive funding mechanisms that subsidize wealthy districts.
  • An increasing share of state and local K–12 education spending has been siphoned off to cover pension costs.
  • This report is one of four reports detailing the impact of unique pension debt challenges facing state education budgets across the U.S.

Equable Institute Analysis: U.S. Public Pension Funds Did Not Recover Funded Ratio Losses in Q4

Retrieved on: 
Tuesday, January 10, 2023

NEW YORK, Jan. 10, 2023 /PRNewswire/ -- Today, Equable Institute released a year end update to its State of Pensions 2022 report. The analysis finds the aggregate funded ratio for U.S. state and local retirement systems declined from 83.9% in 2021 to 77.3% in 2022, based on available data through December 31st, 2022. Equable Institute estimates that unfunded liabilities will total $1.45 Trillion for the 2022 fiscal year, representing a loss of nearly half of the gains from 2021's record investment returns.

Key Points: 
  • Equable Institute estimates that unfunded liabilities will total $1.45 Trillion for the 2022 fiscal year, representing a loss of nearly half of the gains from 2021's record investment returns.
  • Poor investment returns for public pension plans in 2022 has resulted in a loss of nearly half of 2021's record gains.
  • However, based on Equable Institute's outlook for 2023, most pension funds are not on track to meet investment return targets.
  • Illinois and Kentucky have the worst funded pension plans in the nation at the end of 2022.

Equable Institute Analysis Finds State and Municipal Pension Funds Facing Largest Single-Year Decline in Funded Ratio Since the Great Recession

Retrieved on: 
Wednesday, July 20, 2022

NEW YORK, July 20, 2022 /PRNewswire/ -- State and municipal retirement systems are on track to lose nearly half of 2021's once-in-a-century investment returns in 2022, according to Equable Institute's annual State of Pensions report. Following a year of record investment gains and economic growth, unfunded liabilities dipped below $1 trillion in 2021, bringing the aggregate funded ratio to 84.8%, the analysis finds. However, Equable estimates that the aggregate funded ratio for U.S. public pension funds will decline to 77.9% in 2022 and unfunded liabilities will increase to $1.4 trillion — the largest single-year decline in funded ratio since the Great Recession.

Key Points: 
  • However, Equable estimates that the aggregate funded ratio for U.S. public pension funds will decline to 77.9% in 2022 and unfunded liabilities will increase to $1.4 trillion the largest single-year decline in funded ratio since the Great Recession.
  • A -10.4% investment return for U.S. public pensions in 2022 has erased nearly half the funded ratio gains of 2021.
  • In the first half of 2022, U.S. public pension funds have weathered a bear market, geopolitical conflict, and record inflation.
  • Equable is a bipartisan non-profit that works with public retirement system stakeholders to solve complex pension funding challenges with data-driven solutions.

RANKING: South Carolina and Tennessee are the Best States for New Teacher Retirement Benefits

Retrieved on: 
Wednesday, June 29, 2022

NEW YORK, June 29, 2022 /PRNewswire/ -- A new report from Equable Institute measuring the adequacy of retirement benefits for K–12 public school teachers in America finds that South Carolina and Tennessee are the top two states for new teachers to enroll in retirement benefits. The report also reveals that Louisiana, Texas and Kentucky are the worst states for new teachers when it comes to retirement income security.

Key Points: 
  • The Retirement Security Report Teacher Edition is an extension of the first iteration of Equable's Retirement Security Report (RSR) released last year.
  • The RSR is a universe of in-depth research, interactive tools and other resources to shed light on the quality and value of retirement benefits for all public workers.
  • Equable is a bipartisan non-profit that works with public retirement system stakeholders to solve complex pension funding challenges with data-driven solutions.
  • We exist to support public sector workers in understanding how their retirement systems can be improved, and to help state and local governments find ways to both fix threats to municipal finance stability and ensure the retirement security of all public servants.

NEW REPORT: Value of Teacher Pension Benefits at Lowest Point Since 1965

Retrieved on: 
Tuesday, June 28, 2022

NEW YORK, June 28, 2022 /PRNewswire/ -- A new report assessing the landscape of public retirement benefits offered to public school employees in the United States finds that the value of teacher pension benefits is at its lowest point in modern history (using data going back to 1965), Equable Institute estimates that state governments have cut the value of pension benefits offered to new K–12 teachers by 13% from a high point in 2005, equivalent to a $100,000 reduction in the lifetime value of pensions on average for teachers hired today versus teachers hired before the Great Recession.

Key Points: 
  • States have cut the lifetime value of pension benefits offered to new teachers by $100,000 on average since 2005.
  • The Retirement Security Report: Teacher Edition evaluates all 316 public state and local retirement benefit tiers that currently have enrolled teachers and non-instructional employees to assess the state of teacher benefits in the United States.
  • Specifically, the analysis shows:
    Since the Great Recession, 45 state retirement systems have introduced a new tier or class of benefits, that have generally reduced the value of pension benefits offered to new members.
  • But we've found that the value of pension plans for new educators is falling," said Anthony Randazzo, executive director at Equable.

Equable Institute Analysis: U.S. Public Pension Funds Average 25.7% Investment Return in FY2021

Retrieved on: 
Thursday, December 9, 2021

NEW YORK, Dec. 9, 2021 /PRNewswire/ --Today, Equable Institute released the latest results of its analysis of U.S. statewide public pension funds in a mid-year update to State of Pensions 2021.

Key Points: 
  • NEW YORK, Dec. 9, 2021 /PRNewswire/ --Today, Equable Institute released the latest results of its analysis of U.S. statewide public pension funds in a mid-year update to State of Pensions 2021.
  • While funded ratios have improved significantly year over year, pension funds remain fragile as they prepare to weather recent market turmoil.
  • Despite record returns averaging 25.7%, pension funds remain fragile as they prepare to weather market turmoil.
  • Equable is a bipartisan non-profit that works with public retirement system stakeholders to solve complex pension funding challenges with data-driven solutions.

Equable Institute Analysis Estimates U.S. Statewide Pension Funding Shortfall to Shrink by $400 Billion in 2021

Retrieved on: 
Thursday, September 23, 2021

State of Pensions 2021 analyzes trends in public pension funding, investments, contributions, cash flows and benefits for 159 of the largest statewide retirement systems in all 50 states (e.g., retirement plans with at least $1 billion in accrued liabilities).

Key Points: 
  • State of Pensions 2021 analyzes trends in public pension funding, investments, contributions, cash flows and benefits for 159 of the largest statewide retirement systems in all 50 states (e.g., retirement plans with at least $1 billion in accrued liabilities).
  • "The recent historic investment returns for state pension plans has provided significant assets to reduce funding shortfalls.
  • We should view these returns as a warning that state pension funds cannot invest their way back to health.
  • Equable is a bipartisan non-profit that works with public retirement system stakeholders to solve complex pension funding challenges with data-driven solutions.