FASB
See Financial Accounting Standards Board.
Individually Managed Account
An investment account, typically preferred by plan sponsors with larger plans, in which the assets are owned by and managed for the specific plan’s participants and are generally not commingled with the assets of other investors. With respect to a stable value investment option, when compared to commingled funds, individually managed accounts may allow for a degree of customization.
Maturity Date
The date the principal amount of an obligation is payable.
Participating Contract (also known as “experience rated”)
An investment contract characteristic such that the contract’s crediting rate varies with fluctuations in the investment earnings of the associated assets based on changes in asset values, reinvestment rates, and cash flow experience. Participating contracts participate more fully in asset and liability risks than other types of investment contracts and transfer these risks from the issuer to the stable value investment […]
Separate Account GIC
A stable value investment contract that is first supported by associated assets in a segregated separate account held by the issuing insurance company and then, to the extent necessary, by the insurer’s general account assets and surplus. The crediting rate on a separate account GIC resets periodically based upon the earnings of the separate account assets. The securities held in the separate […]
Traditional GIC
A traditional GIC is typically a non-participating, fully guaranteed investment contract backed by the assets in an insurance company’s general account. (See also guaranteed investment contract.)
Bank Pooled Fund
See commingled fund.
Commingled Fund
See pooled fund.
Defined Benefit Plan
A tax-qualified pension plan that provides for the payment of a retirement benefit, according to a specified formula, usually reflecting years of employment service and salary. Required contributions by the plan sponsor are usually actuarially determined. The plan sponsor makes all investment decisions and is responsible for the funding adequacy of the plan.
