Resource Center



Actuarial Deficit

A condition that exists when the market value of the Fund's investments is less than its liabilities.

Actuarial Equivalent

A benefit of equal value when computed upon the basis of the mortality tables and interest rates adopted by the Board from time to time.

Actuarial Surplus

A condition that exists when the market value of the Fund's investments is greater than its liabilities.


A person who computes premium rates, dividends and risks according to probabilities based on statistical records.

Additional YMCA Account

Additional contributions to the Retirement Plan, paid by the Y, for payroll dates prior to July 1, 2009, as determined by that Y's participation agreement. These amounts are fully vested.

Adjustment for Overpayment

An adjustment made by your Y to reduce or reverse the retirement contribution for one or more pay periods. This usually occurs when a Y mistakenly reports too high of a compensation for a particular pay period, and needs to correct the corresponding contribution.


A special transaction or correction made to your account. Several of these may be grouped together for summary purposes. Please contact the Fund if you require more details.

After-Tax Account

Voluntary contributions made on an after-tax basis to the Retirement Plan prior to January 1, 2011, plus the interest credited.

Alternative Assets

Investments in private securities, venture capital, real estate and other non-traditional issues. These are higher risk securities that usually reward investors over the very long term.

Anniversary Date

The calendar date one year after the date of hire, and each year after that. Example: Mark was hired on March 1, 2013. His Anniversary Date is March 1.

Anniversary Year

12 months of employment after the hire date. Example: Mark was hired on March 1, 2013. His Anniversary Year ran from March 1, 2013 until February 28, 2014.

Annuity Interest Rate

The interest factor used to calculate a life annuity at the time of retirement. Retirement annuities are calculated based on a person’s account balance(s), age (and the age of the survivor for the joint & survivor annuities), the annuity option selected, and this annuity interest rate.


Retirement income that is paid on a regular schedule during a participant's lifetime (see Single Life Annuity) or during a participant's lifetime and his or her survivor's lifetime after the participant's death (see Joint & Survivor Annuity).

Asset Class

A type of investment, such as stocks, bonds, or real estate.

Asset Diversification

The investment management strategy of choosing various asset classes—such as large cap domestic stocks, small cap domestic stocks, international stocks, US bonds and private equities—to achieve the best risk-return mix.


The market value of an investment portfolio.