WORD OF THE DAY: CONTANGO (SEE ALSO BACKWARDATION) - A term often used in commodities or futures markets to refer to markets in which longer-term contracts carry a higher price than near-term contracts. The premium accorded to longer maturities is a no ... More
1. ) A term used to describe a liability for underfunded pension obligations that FAS 87 required firms to recognize as an actual balance sheet liability. The minimum pension liability is the excess of accumulated vested and nonvested plan benefits over plan a
Fund Letters
