Related Words

Summary Plan Description: A written statement that contains information regarding participation, coverage and employee rights for any ERISA-covered benefit plan.

Summary Material Modifications: A summary of modifications or changes made to an employee benefit plan that is not included in the summary plan description.

Plan Participant: If you’re enrolled in an employee retirement plan, such as a 401(k) or pension plan, you’re a plan participant with certain rights and protections guaranteed by federal rules. The plan in wh . . . View Full Definition

Planned Unit Development (PUD): A relatively modern concept in housing designed to produce a high density of dwellings and maximum use of open spaces. This efficient use of land allows greater flexibility for residential l . . . View Full Definition

Planned Financing Program: Budgeted or projected ways need for reasons or to obtain short-term and long-term financing as outlined in the corporate financial plan.

Planned Capital Expenditure Program: Budgeted or projected outlays for major expenditures on permanent or fixed assets as outlined in the corporate financial plan.

Planned Amortization Class (PAC): (1) The class of CMO that has the most stable cash flows and the lowest prepayment risk of any class of CMO Because of a stable cash flow, it is considered the least risky CMO (2) A CMO bond . . . View Full Definition

Plant Hardiness Zones: The USDA has divided North America into 11 hardiness zones based on average annual minimum temperatures. Horticulturalists and nurseries rate plants by their hardiness: the hardiness zone ma . . . View Full Definition

Plant: The assets of a business including land, buildings, machinery, and all equipment permanently employed.

Plant Quarantine: A technique for insuring disease (and pest) free plants by isolating them during a period while performing tests for latent diseases. Often used when importing new cultivars.