Glossary of Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Net Asset Value (NAV) - The dollar value of a single unit fund share, based on the value of the underlying assets of the fund minus the liabilities, divided by the number of shares in existence.

Non-Contributory Plan - A plan in which the sponsor makes all the contributions to the plan. Employees do not or are not required to make contributions to the fund.

Normal Retirement Age - The age at which an employee may retire with full or un-reduced pension benefits - usually at age 65.