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GLOSSARY
S&L
S&L stands for savings and loan association. This is a financial institution that accepts deposits and uses them to originate mortgage loans.
S&P 500 Mini
S&P 500 Mini is an investment that represents a designated percentage of an S&P derivative contract. S&P 500 futures and options contracts are exchange-traded and cash-settled; the Minis have these same characteristics, but trade at much lower prices. These lower prices make Minis available to individual investors, who use them for hedging purposes.
S&P no-load index fund
An S&P no-load index fund is a fee-free mutual fund that invests in the stocks that comprise the S&P 500 stock market index. The S&P 500 contains primarily large-cap, American corporations.
S&P/Case-Shiller Home Price Indexes
S&P/Case-Shiller Home Price Indexes track the volatility in U.S. home prices by collecting data on single-family properties that have been sold more than once in regular market transactions. There's a national index and indexes for many metropolitan statistical areas (MSAs).
Safe harbor
Safe harbor is a concept referenced in SEC legislation that protects a public company's management team from liability for providing financial outlooks that later turn out to be inaccurate. To receive such protection, the management team must provide financial forecasts that reflect what management knows at the time the forecasts are published.
Safekeeping
Safekeeping is the holding or guarding of an asset in an area where it cannot be damaged or stolen. Some financial institutions provide safekeeping as a service to their customers.
Salary reduction contribution
Salary reduction contribution is an option on employee-sponsored retirement and savings plans, where the employee elects to direct a portion of her pre-tax earnings into the plan. The salary reduction contribution is also called elective deferral contribution.
Sale and leaseback
Salary reduction contribution is an option on employee-sponsored retirement and savings plans, where the employee elects to direct a portion of her pre-tax earnings into the plan. The salary reduction contribution is also called elective deferral contribution.
Sale contract
A sale contract is a legal document specifying the terms of a property title transfer. The property can be real estate, or some other tangible asset. The contract would describe the asset, specify the selling price, and list any contingencies.
Sale leaseback
When the seller transfers the deed to the buyer, then rents the property from the new owner.
Sales agreement
An agreement which is also known as the "purchase agreement" or "agreement of sale", is the contract signed by buyer and seller stating the terms under which the property will be sold.
Sales and purchase agreement - SPA
A sales and purchase agreement, or SPA, is a legal document that binds a buyer and seller to fulfill their respective parts of a sale transaction. SPAs are used with real estate and with large business transactions.
Sallie Mae
The largest originator of student loans.
Same property rule
Same property rule is a tax regulation pertaining to the use of IRA funds. When non-qualified withdrawals are made from an IRA, the funds must be rolled back into an IRA in the same form as they were withdrawn to avoid penalties. In other words, if an individual withdraws cash from one IRA, he must roll that money into a new IRA as cash and not as securities.
Sample sale
A sample sale is a strategy to move excess merchandise. The strategy is popular with high-end clothing designers that have sample product on hand; the samples were probably used originally to sell clothing orders to retail distributors. Usually, the sample merchandise is in good shape, such that sample sales are great finds for bargain shoppers.