Severance of Employment - a participant has left employment with the Employer, has received all due compensation, has not returned to that employment, and has no intention of returning to that employment.

 

Unforeseeable Emergency - defined in the Internal Revenue Code as a “severe financial hardship resulting from illness, disability, or accidental property loss”. 

 

Compounding - refers to the growth of an investment due to the continual reinvestment of earning and income.

 

Pre-Mixed Path - are a pre-mix of stock, bond and/or cash equivalent funds in which an investment manager selects a variety of funds from different asst classes and regularly “rebalances” your portfolio, making all asset allocation and fund decisions for you.

 

Mix Your Own Path - You review and select your investments, and manage your account on an ongoing basis.

 

Investment or Time Horizon - the length of time a sum of money is expected to be invested.