1. Type of employer’s funding instrument for retirement accounts and employee benefits. The other types are an insured plan or combination plan . 2. Separate account in the U.S. Treasury, mandated by Congress, whose assets may be used only for a specified purpose. For the supplementary medical insurance (SMI) trust fund, monies not withdrawn for current benefit payments and administrative expenses are invested in interest-bearing federal securities, as required by law; the interest earned is also deposited in the trust fund.

Type of retirement plan in which employer and employee contributions are given to a trustee (individual or institution) who invests the funds and may make benefit payments to the participants.

Short-range measure of the adequacy of the trust fund level; defined as the assets at the beginning of the year expressed as a percentage of the outgo during the year.

Appointed individual to administer a trust that must manage and safeguard the property according to the conditions stated in the trust. Also called grantee .
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The individual who has been placed in charge of the property of another person or people.
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A person appointed to manage the property of another. Trustee in General Average Two persons appointed by the ship owner and the cargo owners respectively to be trustees of a general average fund.

Individual who creates a trust that grants the contents of the trust to another person (grantee). Also called grantor or settlor .