Investor Education

Investor Glossary

Terms beginning with 'L'

Late Retirement
The retirement of a member with immediate retirement benefit after the normal retirement date. Late retirement can occur no later than 5 years after normal retirement date.

Using borrowed funds to increase potential return. Leverage can increase both the risk and expected return.


Limit Order
A order to buy or sell at a pre-specified price.

Line of Credit
Prearranged agreement from a lender to supply up to a maximum loan at prescribed terms.

The process of selling all of a firm’s or individual’s assets and distributing the proceeds first to creditors and then any residual to shareholders.

The ease that an investment can be converted to cash.

Listed Stocks
Stocks approved for trading on a stock exchange.

The act of obtaining the right to trade on a stock exchange.

The sales charge on a mutual fund.

Long-Term Liabilities
Liabilities that are not due in the next year or next operating period.