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Unit Benefit Formula: More than one class of securities traded together (e.g., one common share and three subscription warrants).

Pension Benefit Guaranty Corporation (PBGC): The PBGC was created to ensure that participants in defined benefit pension plans under its jurisdiction will receive at least a basic pension if the plans are terminated because they’re und . . . View Full Definition

Performance Benefit: Improvements in physical fitness as a result of exercise.

Personal Responsibility and Work Opportunity Reconciliation Act Of 1996: P.L. 104-193 (September 22, 1996) was labeled as a major 'welfare reform' initiative. In addition to provisions making major changes to federal cash welfare, medicaid, work, and child care d . . . View Full Definition

Pharmacy Benefit Management (PBM) Plan: A type of managed care specialty service organization that seeks to contain the costs, while promoting safer and more efficient use, of prescription drugs or pharmaceuticals. Also known as a . . . View Full Definition

Out-Of-Area Benefits: Benefits the health plan provides to covered persons for covered services obtained outside of the network service area. The details of such benefits will vary from plan to plan.

Organizational Unit: An organizational unit is any component that is part of the contractor's corporate structure. In a more traditional organization, it might be a department, division, section, branch or group . . . View Full Definition

Opportunity Set: The possible expected return and standard deviation pairs of all portfolios that can be constructed from a given set of assets.

Oral Formulaic: Having traits associated with works intended to be spoken aloud before an audience of listeners. Examples of oral formulaic traits are (1) repetition of words or passages, (2) use of epithet . . . View Full Definition

Organic Unity: An idea common to Romantic poetry and influential up through the time of the New Critics in the twentieth century, the theory of organic unity suggests all elements of a good literary work a . . . View Full Definition