Investor Education

Investor Glossary

Terms beginning with 'B'

Bear Market
A declining stock market

Bearer Bond
An unregistered bond whose ownership is determined by possession.

A person entitled to benefit under a Pension Plan or who will become entitled on the death of a member or former member.

Benefit Statement
A statement or estimate of the benefits payable in respect of an individual in certain circumstances, e.g., death, retirement, etc.

Bid Price
The price that someone is willing to pay for a security or an asset. In the stock market, the bid portion of a stock quote is the highest price anyone is willing to pay for a security at that time. The difference between the ask price and bid price is known as the spread.

Blue-Chip Stocks
Shares of a large, mature company with a steady record of profits and dividends and a high probability of continued earnings.

A debt obligation (usually long term) in which the borrower promises to pay a set coupon rate until the issue matures, at which time the principal is repaid.

Any allocation to a Member from surpluses in the Fund as recommended by the Actuary and approved by the Trustees.

An employee of a financial intermediary who acts as an agent in the buying and selling of securities. Unlike a dealer, a broker never owns the securities that he or she trades for his or her customers.