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Savings
Referring to the process of saving and accumulating money by economy and laying it away for later use, usually over a long period of time.
Industry: Banking
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Savings
universal savings account
Banking; Savings
A savings account established for a taxpayer as a way to encourage saving for retirement. The plan provides an additional tax credit for taxpayers under a certain income level, which is deposited ...
spousal beneficiary rollover
Banking; Savings
The transfer of a deceased person's remaining retirement assets to a surviving spouse. This may be done by simply transferring ownership of the retirement asset, or by transferring available funds to ...
spousal contributions
Banking; Savings
The deposits made by a marriage partner into the other partner's individual retirement account (IRA). In order to qualify, the income of the contributing spouse must be less than the account owner's, ...
unfunded pension plan
Banking; Savings
A pension plan funded out of the employer's current income whenever funds are required by retiring employees or beneficiaries, rather than out of money put aside on a regular basis regardless of ...
liability-driven investment
Banking; Savings
A term that refers to one investing with the intention of acquiring assets that are sufficient to meet or exceed liabilities in the present and future. A defined-benefit pension plan is the most well ...
life expectancy method
Banking; Savings
A category of annuity distribution methods that determine payments from life expectancy charts. Two examples of life expectancy methods are the term certain method and the recalculation method. There ...
matching funds
Banking; Savings
A type of employer contribution to an employee retirement fund in which employee contributions up to a maximum limit are accompanied by identical, or at least proportional, contributions by the ...
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