Texas County and District Retirement System chooses Quantrix financial modeling software for pension plan decision support and planning
PORTLAND, Maine, Jan. 27, 2005 -- Quantrix today announced that the Texas County and District Retirement System (TCDRS), has chosen Quantrix Modeler to develop financial forecasting models for pension plan decision support and planning. TCDRS is a non-profit, public pension plan managing $12 billion in assets for the employees of almost 600 counties and districts in Texas. Quantrix Modeler is a desktop quantitative modeling software application that goes beyond traditional spreadsheet technology to enable professionals to model business and financial questions in greater depth and from multiple perspectives while improving productivity, accuracy, and auditability.
TCDRS will use Quantrix Modeler to develop long-term financial forecasts and create economic scenarios designed to identify and mitigate risk. "Quantrix will help us to identify possible risks early, while the largest number of decision options still exists. This will provide us with the best opportunity to deal with the uncertainty of future economic cycles appropriately," says Ray Henry, Director of TCDRS. "Financial modeling is an evolutionary process, and Quantrix will enable us to quickly, easily, and accurately change our model as we discover new information."
In addition to developing models for overall forecasting, TCDRS will use Quantrix to create individualized scenarios for each plan. "We need to develop 'what if' forward-looking projections for our entire trust as well as for each of our almost 600 plans, incorporating their issues and concerns," says Henry. "In the past, we didn't have the ability to quickly and easily build and adjust models for each plan. With Quantrix, we will be able to do it on the fly."
TCDRS also hopes to use Quantrix to develop models that will help individual retirees make better retirement decisions. These focused models will provide insight into questions such as when one can afford to retire and whether a retiree should take benefits as a lump sum or as an annuity.
Quantrix Modeler incorporates a unique approach that separates the logic of a model from the structure, which allows users to create and use formulas outside the confines of the cell. Formulas are expressed in words rather than by cell coordinates so they are easy to understand, trace, and audit. Users can make changes, incorporate new dimensions, and view multiple scenarios dynamically without redesigning or reworking their model.
"Quantrix Modeler is designed to help organizations such as TCDRS develop robust and flexible financial models that are quickly and easily adapted to changing circumstances," says Chris Houle, Chief Operating Officer of Quantrix. "When it comes to real-world decision making, Quantrix gives the professional an edge."
About Texas County & District Retirement System
Based in Austin, Texas, TCDRS is a non-profit public trust providing pension, disability and death benefits for the eligible employees of participating counties and districts. Established by the Texas Legislature in 1967, TCDRS is the primary source for group pension plans for all counties and districts in Texas. Each county and district electing to be a part of TCDRS is treated as an individual retirement plan. The system is respected nationally for its high integrity, consistent performance and customer service. For more information, call (512) 328-8889 or visit www.tcdrs.org.
Founded in 2002 and headquartered in Portland, Maine, Quantrix develops financial and quantitative modeling software for professionals pushing the limits of traditional spreadsheets. Through intuitive architecture and a powerful, multidimensional calculation engine, Quantrix software enables users to reach new levels of business insight. Its flagship product, Quantrix Modeler, enables users to explore multiple dimensions simultaneously, define formulas with words rather than coordinates, and easily explore new scenarios without rewriting or restructuring models. Quantrix has customers in more than 20 countries. Quantrix has received funding from several sources, including the Maine Technology Institute. For more information, please visit Quantrix at www.quantrix.com or call 207-775-0808.
Quantrix Chris Houle, 207-775-0808 email@example.com or Harris Media Services Alison Harris, 207-829-4500 firstname.lastname@example.org
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