WEALTH MANAGEMENT GLOSSARY

S Corporation

SLMA

Sallie Mae

Secondary Market

Secular Trust

Settlement Date

Settlor

Share

Short-Term Reserves

Special Power Of Appointment

Speculation

Stock Power

Stock Split

Stock Transfer Agent

Street Name

Student Loan Marketing Association

Successor Trustee Or Executor

Systematic Risk

A form of employee benefit in which an employer establishes an irrevocable trust to provide non-qualified deferred compensation to certain key employees. In contrast to a Rabbi Trust, the Secular Trust is not subject to claims of the employer's creditors. Employer contributions in which the employee is vested are immediately taxable as income to the employee upon contribution. Any income earned prior to distribution to the employee is taxed to the trust, rather than the employer.