The Retirement Corporation of America


Glossary


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M

Marital Deduction

A provision of the tax codes that allows all assets of a deceased spouse to pass to the surviving spouse free of estate taxes. This provision is also referred to as the unlimited marital deduction.

Market Value
The value of a particular security, generally based on the most recently reported sale price.

Money Market Fund
A mutual fund that specializes in investing in short-term securities and that tries to maintain a constant net asset value of $1.

Municipal Bond Fund
A mutual fund that specializes in investing in municipal bonds.

Mutual Fund
A collection of stocks, bonds, or other securities purchased and managed by an investment company with funds from a group of investors.