AAA American Academy of Actuaries
AAL Actuarial Accrued Liability
AARP American Association of Retired Persons
ABO Accumulated Benefit Obligation
ABS Asset Backed Securities
ACD Automated Call Distribution
ACWI All Country World Index
ADA Americans with Disabilities Act (1990)
ADEA Age Discrimination in Employment Act
ADR American Depository Receipt
AFL-CIO American Federation of Labor-Congress of Industrial Organizations
AFSCME American Federation of State, County and Municipal Employees
AFT American Federation of Teachers (AFL-CIO)
AICPA American Institute of Certified Public Accountants
AIME Average Indexed Monthly Earnings
AL Accrued Liability
ALEC American Legislative Exchange Council
AMEX American Stock Exchange
APRSC Administrative Policy Regarding Self Correction
APV Actuarial Present Value
APC Annual Pension Cost
ARC Actuarially Required Contribution
ARC Annual Required Contribution
ASA Associate, Society of Actuaries
ASAE American Society of Association Executives
ASB Actuarial Standards Board
ASEC American Savings Education Council
ASOP Actuarial Standards of Practice
AUM Assets Under Management
AVA Actuarial Value of Assets
AYP Adequate Yearly Progress [part of the NCLB Act]


BAFO Best And Final Offer
BIC Bank Investment Contract
BLS Bureau of Labor Statistics
BPR Business Process Improvement
BPS Basis Points
BRIC Brazil, Russia, India, China [fast-growing Third-World economies]
BRIMC Same as BRIC, but with Mexico included


CAE Certified Association Executive
CAFR Comprehensive Annual Financial Report
CAN California Association of Nonprofits
CAPPP Certificate of Achievement in Public Plan Policy
CASE Conference of Allied Society Executives
CBO Congressional Budget Office
CBO Collateralized bond obligation
CCM Certified Cash Manager
CD Certificate of Deposit
CDO Collateralized debt obligation
CFA Chartered Financial Analyst
CFTC Commodity Futures Trading Commission
CII Council of Institutional Investors
CIPS Corporate Inflation-Protected Securities
CMBS Commercial Mortgage-Backed Securities
CMS Centers for Medicare & Medicaid Services
COBRA Consolidated Omnibus Budget Reconciliation Act
COLA Cost of Living Adjustment
COLI Corporate Owned Life Insurance
COP Congressional Oversight Panel (for the TARP)
CORBA GFOA’s Committee on Retirement and Benefits Administration
CPI Consumer Price Index
CPRS Coalition to Preserve Retirement Security
CRS Congressional Research Service
CSG Council of State Governments


D&E Directors and Officers (insurance)
DB Plan Defined Benefit Plan
DC Plan Define Contribution Plan
DJIA Dow Jones Industrial Average
DOL Department of Labor
DRIP Dividend Reinvestment Plan
DRO Domestic Relations Order
DROP Deferred Retirement Option Plans [see PLOP and WAR, too]


E&O Errors and Omissions (insurance)
EA Enrolled Actuary
EAFE Europe Australia and Far East [Index]
EBITDA Earnings Before Interest, Tax, Depreciation, and Amortization
EBRI Employee Benefit Research Institute
EDGAR Electronic Gathering Analysis and Retrieveal System
EEOC Equal Employment Opportunity Commission
EGTRRA or EGATRRA Economic Growth and Tax Relief Reconciliation Act
ELSA Earnings Limitation Savings Account
EM Emerging Market
EMBI Emerging Markets Bond Index
EMF Emerging Markets Free [from Morgan Stanley Capital International (MSCI)]
EMPE Emerging Markets Private Equity
EPCRS Employee Plans Compliance Resolution System (IRS)
EPS Earnings Per Share
ERIC The ERISA Industry Committee
ERISA Employee Retirement Income Security Act
ETF Exchange Traded Fund
ETI Economically Targeted Investment
EU European Union
EV Earned Value


FAC Final Average Compensation
FAS Final Average Salary
FASB Financial Accounting Standards Board
FCA Fellow of the Conference of Consulting Actuaries
FDI Foreign Direct Investment
FDIC Federal Deposit Insurance Corporation
FE Financial Economics
FE Foreign Exchange
FHA Federal Housing Authority
FHLMC Federal Home Loan Mortgage Corporation (Freddie Mac)
FICA Federal Insurance Contributions Act
FINRA Financial Industry Regulatory Authority
FLSA Fair Labor Standards Act of 1938
FMLA Family and Medical Leave Act of 1993
FNMA Federal National Mortgage Association (Fannie Mae)
FoF Fund of Funds
FOIA Freedom of Information Act
FPE Federation of Public Employees
FRAs Forward Rate Agreements
FSA Fellow of the Society of Actuaries
FSA Flexible Spending Account
FSLG Federal, State, & Local Governments office of IRS Tax Exempt/Government Entities Division
FTSE Financial Times (and London) Stock Exchange [UK Stock Index] (“Footsie”)
FY Fiscal Year


GAO Government Accountability Office
GASAC Governmental Accounting Standards Advisory Council
GASB Government Accounting Standards Board
GDP Gross Domestic Product
GFOA Government Finance Officers Association
GIC Guaranteed Investment Contract
GNMA Government National Mortgage Association (ginnie mae)
GOLI Government Owned Life Insurance
GP General Partner
GPO Government Pension Offset


HC Health Care
HDHP High Deductible Health Plan
HEART Act Heroes Earnings Assistance and Relief Tax ActHELPS Healthcare Enhancement for Local Public Safety
HF Hedge Funds
HHS US Department of Health and Human Services
HI Health Insurance
HIPAA Health Insurance Portability and Accountability Act
HIT Health Information Technology
HMO Health Maintenance Organization
HR Human Resources
HRA Health Reimbursement Arrangement
HSA Health Savings Account


IAP Individual Account Program
ICE IntercontinentalExchange
ICMA International City/County Management Association
IDB Industrial Development Bond
IEP Individualized Education Program
IFEBP International Foundation of Employee Benefit Plans
IPO Initial Public Offering
IRA Individual Retirement Account
IRC Internal Revenue Code
IRS Internal Revenue Service
IT Information Technology


KISS Keep It Short and Simple


LBO Leveraged Buy-Out
LDI Liability Driven Investing
LIBOR London Inter- bank Offered Rate [Rate of interest London banks are willing to pay for U.S. deposits]
LLC Limited Liability Company
LOB Line-Of-Business
LP Limited Partner
LTC Long-Term Care
LWOP Leave WithOut Pay


MAAA Member, American Academy of Actuaries
MA-PD Medicare Advantage—Prescription Drug [Plan]
MA-PFFS Medicare Advantage—Private Fee-for-Service [Plan]
MBS Mortgage-backed securities
MMA Medicare Modernization Act [2003]
MPT Modern Portfolio Theory
MSA Medical Savings Account
MSCI Morgan Stanley Capital International Indices
MVA Market Value of Assets
MVL Market Value Liability


NACo National Association of Counties
NAFTA North American Free Trade Agreement
NAGDCA National Association of Government Defined Contribution Administrators
NAPPA National Association of Public Pension Attorneys
NARFE National Association of Retired Federal Employees
NASACT National Association of State Auditors, Comptrollers and Treasurers
NASBO National Association of State Budget Officers
NASD National Association of Securities Dealers
NASDAQ National Association of Securities Dealers Automated Quotation [System]
NASIO National Association of State Investment Officers
NASRA National Association of State Retirement Administrators
NAST National Association of State Treasurers
NCHC National Coalition on Health Care
NCLB No Child Left Behind [Act]
NCPERS National Conference on Public Employee Retirement Systems
NCREIF National Council of Real Estate Investment Fiduciaries
NCSL National Conference of State Legislatures
NCTR National Council on Teacher Retirement
NCTQ National Council on Teacher Quality
NEA National Education Association
NGA National Governors Association
NGO Non-Governmental Organization
NIRS National Institute on Retirement Security
NLC National League of Cities
NOO Net OPEB Obligation
NPAS New Pension Administration System
NPEA National Pre-Retirement Education Association
NPO Net Pension Obligation
NRA Normal Retirement Age
NRTA AARP’s Educator Community (formerly National Retired Teachers Association)
NRSRO Nationally recognized statistical rating organization
NYSE New York Stock Exchange


OASDI Old-Age, Survivors, & Disability Insurance [US Social Security]
OBRA Omnibus Budget Reconciliation Act
OECD Organization for Economic Cooperation & Development
OMB Office of Management and Budget
OOP Out-Of-Pocket
OPEB Other Post Employment Benefits
OPEBOB Other Post Employment Benefits Obligation Bond
OSHA Occupational Safety and Health Act
OTC Over the Counter
OWBPA Older Workers Benefit Protection Act of 1990


PA Public Agency
PADRO Plan Approved Domestic Relations Order
PAYGO Pay As You Go
PBGC Pension Benefit Guarantee Corporation
PCAOB Public Company Accounting Oversight Board
PDP Prescription Drug Plan
PE Private Equity; also Price-to-Earnings (ratio)
P/E Price Earning Rato
PEPPRA Public Employee Pension Plan Reporting and Accountability Act
PERISA Public Employee Retirement Income Security Act
PERS Public Employee Retirement System
PLOP Partial Lump-Sum Option Plans [see DROP and WAR, too]
PLR Prime Lending Rate
PLSO Partial Lump Sum Option
PMO Project Management Office
POB Pension Obligation Bond
POP Public Offering Price
POS Point of Service Plan
PPA Pension Protection Act
PPCC Public Pension Coordinating Council
PPN Public Pension Network
PPO Preferred Provider Organization
PREA Pension Real Estate Association
PSAG (World Bank’s) Private Sector Advisory Group
PSC Purchases of Service Credit
PSLRA Private Securities Litigation Reform Act of 1995


QDRO Qualified Domestic Relations Order
QEBA Qualified Excess Benefit Arrangement
QJSA Qualified Joint and Survivor Annuity
QPSA Qualified Pre Retirement Survivor Annuity


RE Real Estate
REIT Real Estate Investment Trust
RFI Request For Information
RFP Request for proposal
RMBS Residential mortgage-backed securities
RMT Retiree Medical Trust
ROA Return on Asset Assumption
ROI Return on Investment; also Rate of Interest
ROIC Return on Invested Capital


SARSEP Salary Reduction Simplified Employee Pension Plan
SBJPA Small Business Job Protection Act
SCHIP State Children’s Health Insurance Program
SEC Securities and Exchange Commission
SEIU Service Employees International Union
SEP Simplified Employee Pension Plan
SEP-IRA Simplified Employee Pension Individual Retirement Account
SIMPLE IRA Simple Incentive Match Plan for Employees
SIV Structured Investment Vehicle
SLG State and Local Governments
SLMA Student Loan Marketing Association (Sallie Mae)
SME Subject Matter Expert
SOE State-Owned Enterprises
SOX Sarbanes-Oxley Act of 2002
STAND Students Taking Action Now: Darfur (student anti-genocide coalition group)
S&P500 Standard & Poor’s 500 Stock Price Index
SPD Summary Plan Description
SPDA Single Premium Deferred Annuity
SSA Social Security Administration
SSDI Social Security Disability Insurance
SSI Supplemental Security Income
STIF Short Term Investment Fund
STRIPS Separate Trading of Registered Interest and Principal of Securities
STRS State Teachers Retirement System


TARP Troubled Assets Relief Program
TIAA-CREF Teachers Insurance Annuity Association–College Retirement Equities Fund
T-BILL Treasury Bill
T-BOND Treasury bond
TE/GE Tax Exempt & Government Entities Division of the IRS
T-NOTE Treasury note
TIPS Treasury Inflation Protection Securities
TPA Third Party Administrator
TROOP True Out-Of-Pocket
TVC Tax Sheltered Annuity Voluntary Corrections Program


UAAL Unfunded Actuarial Accrued Liability
UAL Unfunded Actuarial Liability
UBIT Unrelated Business Income Tax
UCR Usual, Customary and Reasonable Fees
UMPERSA Uniform Management of Public Employee Retirement Systems Act
UPIA Uniform Prudent Investor Act
UPMIFA Uniform Prudent Management of Institutional Funds Act
USERRA Uniformed Services Employment & Reemployment Rights Act (1994)
USCM US Conference of Mayors


VA Veterans Administration
VAR Value at Risk
VCR Voluntary Compliance Resolution
VEBA Voluntary Employees’ Beneficiary Association


WAR Work After Retirement [see DROP and PLOP, too]
WEP Windfall Elimination Provision