A condition that exists when the market value of the Fund's investments is less than its liabilities.
 

A benefit of equal value when computed upon the basis of the mortality tables and interest rates adopted by the Board from time to time.
 

A condition that exists when the market value of the Fund's investments is greater than its liabilities.
 

A person who computes premium rates, dividends and risks according to probabilities based on statistical records.
 

Additional contributions to the Retirement Plan, paid by the YMCA, for payroll dates prior to 7/1/09, as determined by that YMCA’s participation agreement. These amounts are fully vested.
 

Voluntary contributions made on an after-tax basis to the Retirement Plan, either by payroll deductions or in a single sum payment, plus the interest credited.
 

Investments in private securities, venture capital, real estate and other non-traditional issues. These are higher risk securities that usually reward investors over the very long term.
 

The calendar date one year after the date of hire, and each year after that.

Example: Mark was hired on March 12, 2008. His Anniversary Date is March 12.
 

12 months of employment after the hire date.

Example: Mark was hired on March 12, 2008. His anniversary year ran from March 12, 2008 until March 11, 2009.

 

Retirement income that is paid on a regular schedule during a participant's lifetime (see Single Life Annuity) or during a participant's lifetime and his or her survivor's lifetime after the participant's death (see Joint & Survivor Annuity).
 

A type of investment, such as stocks, bonds, or real estate.
 

The investment management strategy of choosing various asset classes—such as large cap domestic stocks, small cap domestic stocks, international stocks, US bonds and private equities—to achieve the best risk-return mix.
 

The market value of an investment portfolio.