Fiduciary
An individual or organization that has discretionary authority or control over a qualified plan trust, its assets, or its administration, or that - for compensation - provides investment advice regarding plan assets.
Five-Year Rule
An IRS rule stating that all of a deceased's funds in qualified plans, IRAs, and so forth, must be distributed within five years of the end of the year in which the individual dies,. The only exception to this is when the retirement vehicle names a designated beneficiary.
Forfeitures
Unvested benefits left in a retirement plan by departing plan participants.
Form 5500
Required by the IRS and Department of Labor each year, the 5500 provides statistical information about the plan and plan sponsors, reports financial information about the plan, and demonstrates compliance with 401(k) rules.
Fund Family
A group of mutual funds offered by a company, usually with the company name as part of the fund name.
Fund Manager
This person(s) “manages” the investment by buying and selling securities in an effort to increase investments and meet objectives in the prospectus.
