Service to an employer that is recognized for the defined benefit pension plan purposes, but either occurred before the employee was a member in the plan, or before the plans inception. Employees have the option to purchase past service, by cash or by qualified retirement plan roll-over, to increase their years of service in the calculation of their retirement pension. In cases where employees are considering rolling over the assets from their qualified retirement plan, it is often wise to first consult a financial planner. Depending on a number of factors, such as employee life expectancy, marital status and quality of the pension plan, it may or may not be beneficial to make the roll-over.
The period of service, expressed in a yearly figure, for which a worker has established pension credits for a pension plan. Pension benefits are typically based on the worker's pensionable service and highest average salary. The pensionable service value calculated for each worker is most commonly based on the employer's record of the actual units (hours, years etc) worked. This includes any periods of purchased service which the pensioner has opted to purchase. Pension plans may have differing calculations for pensionable service, so it is important for prospective pensioners to be aware of the terms of their pension plan.
A situation in which a company offering employees a defined benefit plan does not have enough money set aside to meet the pension obligations to employees who will be retired in the future. With a defined benefit plan, the employer bears the risk of the investments in the plan. Therefore, when investments such as stocks perform poorly, a shortfall occurs, meaning there isn't enough money in the pension plan to meet the needs of people about to retire. A company can rectify a pension shortfall by increasing investment returns (usually an unlikely course of occurrence) or putting aside more money into the pension plan, thereby reducing the company's net income. As an example, in August 2002, UBS Warburg reported that General Motors had a pension shortfall of $22.2 billion, equal to 83% of the company's market value. This means that $4 of the first $5 that GM earns per share each year stands to get eaten up by pension obligations.
A type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for an employee's future benefit. The pool of funds is then invested on the employee's behalf, allowing the employee to receive benefits upon retirement. In many ways, a pension plan is a method in which an employee transfers part of his or her current income stream toward retirement income. There are two main types of pension plans: defined-benefit plans and defined-contribution plans.In a defined-benefit plan, the employer guarantees that the employee will receive a definite amount of benefit upon retirement, regardless of the performance of the underlying investment pool.In a defined-contribution plan the employer makes predefined contributions for the employee, but the final amount of benefit received by the employee depends on the investment's performance.
A situation where a stock price decreases and, consequently, an investor's stop order is executed. If you place a stop loss order instructing to sell the stock if the price moves below $20 per share, and it does, you've been stopped out.
A market order on the NYSE that is stopped from being executed by the specialist because of a request from a member firm to obtain a better price than that available. According to NYSE rules, once the order is stopped, it must be identified and the specialist must guarantee the market price at the time of the stop should they be unsuccessful in obtaining a better price. This is a procedure on the NYSE in which the specialist is actively involved in the market as an agent representing a member firm. An example would be when a member firm is trying to buy company ABC at $10. If the current asking price is $10.25 and the specialist has agreed to stop the market order for the member firm, the order will be stopped and the specialist will post a bid for $10.00. Should the order not be filled for the member firm at the $10, and the market continues to advance, the specialist will be obliged to fill the order at the $10.25. There are many different ways an order can be stopped under the guidelines of the NYSE. These orders should not be mistaken with limit orders or stop orders placed by investors.
A strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set their stop-loss orders. The triggering of many stop losses generally leads to high volatility and can present a unique opportunity for investors who seek to trade in this environment. Watch: Stop Loss Order Understanding that the price of an asset can experience sharp moves when many stop losses are triggered can be useful when seeking potential trading opportunities. For example, assume that ABC Company's stock is trading at $50.36 and looks as though it may be heading lower. It is possible that many traders will place their stop losses just below $50, at $49.99, so that they can still hold onto the shares and benefit from an upward move while also limiting the downside. If the price falls below $50, traders expect a flood of sell orders as many stop losses are triggered. This will then will push the price lower and give some traders the opportunity to profit from the decline.
The buying and selling of securities with the intent of generating quick profits. While most investors seek value through long-term investments, stock jobbing takes on a more speculative short-term tone. The term stock jobbing is largely used in reference to the South Sea Bubble - an 18th-century stock that literally wiped out the savings of many British citizens.
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