1-Definitions_Attachment 1.docx

Attachment 1 Definitions

Acquisitions – Receipt of assets from the interim custodians or plan sponsors in the form of checks, wire transfers, in-kind transfers, etc. by PBGC’s custodian bank from plans that have been trusteed by PBGC or receipts of funds on behalf of the Missing Participant Program.

Average Cost – The cost to be matched against revenue for the sale of an investment may not be the identified cost of the specific investment which is sold. The costs of like groups of specific investment assets are averaged in order to derive an average cost for calculation of realized and unrealized gains or losses on sales.

Case Number – The eight digit number assigned to plans terminated by PBGC.

Commingled Account – Term used to identify an account that holds the assets transferred from the interim custodians of plans trusteed by PBGC to the PBGC custodian bank.

Contracting Officer Representative (COR) An individual designated and authorized in writing by the contracting officer to perform specific technical or administrative functions.

Contracting officer (CO) – A person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.

Custodian Bank Organization tasked with performing the duties outlined in this Statement of Work.

Date of Plan Termination (DOPT) – Date at which a plan is terminated as agreed upon by both the PBGC and the plan administrator on behalf of the plan sponsor. In a case where no agreement can be reached, the court system sets the date. In determining the value of the plan’s assets, they are valued at close of business on the DOPT.

Date of Trusteeship (DOTR) – Date at which PBGC is appointed trustee of a plan and thereby establishes itself as the plan owner.

Income per Share – Income paid in divided by shares issued.

Income Paid In – Income paid-in is the total shares issued per acquisition times income per share

Liquidation – Withdrawal of funds from PBGC’s Custodian Bank for the payment of expenses of trusteed plans, cancellation of previously issued acquisitions, or reimbursements to PBGC’s Revolving Fund.

Margin Variation Receivable – The increase in unrealized appreciation or decrease in the unrealized depreciation resulting from Future contracts due to market fluctuations.

PBGC Holding Account(s) – Separate accounts maintained by the Custodian bank for inter/intra – fund transfers and for assets held for liquidation that include:

Commingled Holding Account(s) – Account(s) holding assets which have been commingled.

Non-Commingled Holding Account(s) – Account(s) holding assets which have not been commingled due to delay in trusteeship, title transfer, valuation or the requirement to keep the funds segregated from all other funds.

PBGC Revolving Funds – Funds that supports the administrative functions of PBGC and funds any deficits incurred by PBGC in the process of becoming trustee of terminated pension plans and insolvent multiemployer plans. This fund is not covered or maintained by the Custodian Bank in its solicitation.

PBGC Trust Fund – All assets acquired through trusteeship of terminated pension plans and transferred to the Custodian Bank.

Plan – A single-employer or multiemployer Defined Benefit pension plan.

Plan Administrator – Party who administers the terms of the plan as they are written.

Plan Sponsor – The employer sponsoring a plan.

Portfolio(s) – Distinct accounts within the commingled PBGC Trust Fund.

Proper Instructions – Instructions received by the Custodian Bank from the PBGC, the Investment Manager, or any person duly authorized by either of them. Proper instructions may be in writing signed by the authorized person(s) or may be in a communication utilizing security codes effected between electronic devices (i.e. e-mail) or may be such other means as may be agreed to from time to time by the Custodian Bank and the party giving such instructions. This includes oral instructions, provided, that such oral instructions are followed by a written verification within one (1) business day of the original communication.

Rights – A security giving stockholders entitlement to purchase new shares issued by the corporation at a predetermined price in proportion to the number of shares already owned, normally issued only for a short period of time.

Shares – The number of units issued when assets were acquired (Acquisition dollar amount divided by unit price).

Trade Date Accounting – Accounting for the purchase or sale of assets based on the date of the transaction where an agreement was reached to purchase or sell an asset, rather than the settlement date of the transaction.

Trusteeship – process by which PBGC obtains legal control of a terminated plan's assets and obligates itself to guarantee certain benefits of the plan's participants and beneficiaries.

Unit Price – STIF (Money Market) value for the day