S & P 400
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Measuring the performance of the mid-size company segment of the U.S. market, this index is used by over 95% of U.S. managers and pension plan sponsors. $20 billion is indexed to the S&P MidCap 400.
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Source:
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NASDAQ
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S & P 500
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A market-value weighted index that tracks the performance of 500 widely held large-cap stocks in the industrial, transportation, utility, and financial sectors. It is often looked to by experienced investors as a measure of changes in the broad market.
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Source:
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National Association of Securities Dealers, Inc.
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Salary-Reduction Contribution
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A cash- or deferred-contribution arrangement of an employer-sponsored retirement plan, under which participants can choose to set aside part of their pre-tax compensation as a contribution to the plan.
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Source:
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403bCompare.com
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Sales Load
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Funds that use brokers to sell their shares must compensate the brokers. Funds may do this by imposing a fee on investors, known as a "sales load" (or "sales charge (load)"), which is paid to the selling brokers. In this respect, a sales load is like a commission investors pay when they purchase any type of security from a broker. Although sales loads most frequently are used to compensate outside brokers that distribute fund shares, some funds that do not use outside brokers still charge sales loads.
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Source:
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United States Securities and Exchange Commission
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Sector Funds
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Sector funds may specialize in a particular industry segment, such as technology or consumer products stocks.
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Source:
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United States Securities and Exchange Commission
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Settlement Option
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The manner in which the insured or beneficiary may choose to have the policy proceeds paid.
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Source:
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California Department of Insurance
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Shareholder Service Fees
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Fees paid to persons to respond to investor inquiries and provide investors with information about their investments.
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Source:
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United States Securities and Exchange Commission
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Simple Interest
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Interest computed on a principal amount only.
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Source:
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Internal Revenue Service Manual
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Small Cap
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Stocks of smaller companies whose market value is below a designated minimum, such as $1 billion.
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Source:
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National Association of Securities Dealers, Inc.
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Spread
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Some Equity Index Annuities use a spread, margin or asset fee in addition to, or instead of, a participation rate. This percentage will be subtracted from any gain in the index linked to the annuity.
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Source:
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United States Securities and Exchange Commission
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Straight Life Annuity (Annuities for a single life)
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You receive definite amounts at regular intervals for life. The payments end at death.
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Source:
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Internal Revenue Service Publication 575
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Surrender Charge
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If you withdraw money from a variable annuity within a certain period after a purchase payment (typically within six to eight years, but sometimes as long as ten years), the insurance company usually will assess a "surrender" charge, which is a type of sales charge.
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Source:
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United States Securities and Exchange Commission
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Surrender Period
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The surrender charge is a percentage of the amount withdrawn, and declines gradually over a period of several years, known as the "surrender period."
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Source:
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United States Securities and Exchange Commission
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Sweeps
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While brokerage firms are required to send funds or certificates "promptly" to customers following the settlement of a trade, there are no deadlines imposed by federal law or regulations. Brokerage firms will credit your account with sale proceeds as soon as your trade settles. Some brokerage firms may immediately "sweep" your money into an account that earns interest. You should ask your broker about how you can assure that all funds and securities are delivered to you promptly.
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Source:
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United States Securities and Exchange Commission
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