A buy or sell order that, unless executed or canceled, will expire automatically at the end of the trading day on which it was placed. All orders are day orders unless otherwise specified. A liability required to be paid by a specific date. The date the board of directors of a company or mutual fund announces the amount and date of its next dividend payment. A retirement plan that promises to pay a certain amount, usually based on the number of years of service and on the average salary in the period before retirement.
Employers generally bear all investment risk.
A retirement plan offering a benefit that depends on the total contributions made by the employer and the employee, and on the investment returns earned by those contributions. Employees generally bear the investment risk. A decrease in the value of an investment. No immediate tax liabilities or penalties are incurred, but there is an IRS reporting requirement. A brokerage that executes orders to buy and sell securities at commission rates lower than a full-service brokerage.