BankerGirl

Posted by Heidi on April 9th, 2008 in banking, retirement, saving, work

Here are the “answers” to the acronym quiz. 

If  you want to sound like a banker or financial services professional, get to know these well.  The trick is being able to use them without sounding like a complete jackass.  I was actually in a meeting the other day and said, “I want to see the CBA on the ODP LOC for HSAs.” (CBA is my institution’s way of saying “cost/benefit analysis).

I’m sure that every industry has their own secret code, but transitioning from banking to retirement planning has been challenging for me - some of the same acronyms mean very different things! 

Enjoy!

ACH - Automated Clearing House

ADD - Additional Deductible Dollars

ADEA - Age Discrimination Employment Act

AD&D - Accidental Death & Dismemberment

AMEX - American Stock Exchange

ANB - Age Nearest Birthday

ARM - Adjustable Rate Mortgage

ASA - Associate of the Society of Actuaries

AUM - Assets Under Management

BU - Business Unit

CBT - Computer Based Training

CCT - Common Collective Trust

CFP - Certified Financial Planner

CIP - Customer Identification Program

CMBS - Commercial Mortgage-Backed Securities

CODA - Cash or Deferred Arrangement

COLA - Cost of Living Allowance/Agreement

COLI - Corporate Owned Life Insurance

CPA - Certified Public Accountant

CPC - Certified Pension Consultant

CYC - Current Year Contributions

DB - Defined Benefit

DC - Defined Contribution

DOB - Date of Birth

DOE - Date of Employment

DOL - Department of Labor

DOT - Date of Termination

DYE - Deposit Year End

EA - Enrolled Actuary

EFT - Electronic Funds Transfer

ERISA - Employee Retirement Income Security Act

ESOP - Employee Stock Ownership Plan

ESOT - Employee Stock Ownership Trust

ESPP - Employee Stock Purchase Plan

ETI - Economically Targeted Investment

EWC - Early Withdrawal Charges

FASB - Financial Accounting Standards Board

FDIC - Federal Deposit Insurance Corporation

FHLM(C) - Federal Home Loan Mortgage Corporation

FIFO - First In, First Out

FLMI - Fellow of the Life Management Institute

FMLA - Family Medical Leave Act

FSA - Flexible Spending Account, Funding Standard Account

FUTA - Federal Unemployment Tax Act

FYE - Fiscal Year-End

GATT - General Agreement on Tariffs & Trades

GLB(A) - Gramm-Leach-Billey Act

GWO - Good Working Order

HCE - Highly Compensated Employee/Executive

HDHP - High Deductible Health Plan

HSA - Health Savings Account

IDA - Interest Draft Account

IE - Income Endowment

IEM - International Emerging Markets

IPO - Initial Public Offering

IRA - Individual Retirement Account

IRC - Internal Revenue Code

IRS - Internal Revenue Service

J&S - Joint & Survivor

KSOP - blended 401(k) & ESOP

LIBOR - London Interbank Offering Rate

LOB - Lines of Business

LOMA - Life Office Management Association

LTD - Long Term Disability

MP - Master Plan/Money Purchase

MVA - Market Value Adjustment

NAIC - National Association of Insurance Commissioners

NASD - National Association of Securities Dealers

NAV - Net Asset Value

NFP - Not For Profit

NQ - Non-qualified plan

NRA - Normal Retirement Age

NYSE - New York Stock Exchange

OASDI - Old Age, Survivors, and Disability Insurance

OBRA - Omnibus Budget Reconciliation Act

OTC - Over The Counter

OTS - Office of Thrift Supervision

POP - Point of Purchase/Pension Objective Plan/Performance Option Plan

PV - Present Value

PTO - Paid Time Off

RCB - Retained Cost Basis

REA - Retirement Equity Act

REIT - Real Estate Investment Trust

RESA - Real Estate Separation Account

RFI - Request for Information

RFP - Request for Proposal

RIA - Retirement Income Annuity

RM - Relationship Management/Manager

ROR - Rate of Return

RPA - Retirement Protection Act

S & P - Standard & Poors

SAFO - Small Amount Force Out

SDOB - Spouse’s Date of Birth

SEC - Securities & Exchange Commission

SIMPLE - Savings Incentive Match Plan

SME - Subject Matter Expert

SSN - Social Security Number

STD - Short Term Disability

TDA - Tax Deferred Annuity

TPA - Third Party Administrator

YTM - Yield to Maturity

Stumble it!