What Is a Nonelective Contribution? Nonelective contributions are funds employers choose to direct toward their eligible workers’ employer-sponsored retirement plans regardless if employees make their own contributions. These contributions come directly from the employer and are not deducted from employees’ salaries. This distinction separates a nonelective contribution from a matching contribution, which an employer makes depending
What Is a Non-Executive Director? The term non-executive director refers to a member of a company’s board of directors. This board member isn’t a company employee, which means they don’t engage in the day-to-day management of the organization. Rather, most non-executive directors act as independent advisors and are involved in policymaking and planning exercises. Their
What Is a Non Exempt Employee? Non exempt employees are workers who are entitled to earn at least the federal minimum wage and qualify for overtime pay, which is calculated as one-and-a-half times their hourly rate for every hour they work above and beyond a standard 40-hour workweek. These regulations are created by the federal
What Is Nonfeasance? Nonfeasance is a legal concept that refers to the willful failure to execute or perform an act or duty required by one’s position, office, or law whereby that neglect results in harm or damage to a person or property. The perpetrator can be found liable and subject to prosecution. Nonfeasance differs from
What Is a Nonfinancial Asset? A nonfinancial asset is an asset that derives its value from its physical traits. Examples include real estate and vehicles. It also includes all intellectual property, such as patents and trademarks. The classification of possessions as nonfinancial assets is important to businesses as these items appear on a company’s balance
What Is Non-Fluctuating? Non-fluctuating is a characteristic of constancy in a security or measurement’s value, rate of change, or other metric. Non-fluctuating is a feature of a fixed-rate asset which has a constant yield, such as a government-issued debenture. (However, the market price of a bond will fluctuate as interest rates change). A non-fluctuating characteristic
What Is a No-Load Annuity? A no-load annuity is a type of retirement investment that charges lower fees and expenses than annuities usually entail. The monthly payments that the investor receives are based on the returns on the account, which is managed by the investor. No-load annuities are not sold by commission-based brokers or planners because
What Is a No-Load Fund? A no-load fund is a mutual fund in which shares are sold without a commission or sales charge. This absence of fees occurs because the shares are distributed directly by the investment company, instead of going through a secondary party. This absence of a sales charges is the opposite of a load fund—either front-load
What Is No-Load Life Insurance? No-load life insurance is a type of life insurance in which no commission is paid for initiating or servicing the policy. By contrast, many insurance policies include both upfront and ongoing payments to the agent or representative who sold the insurance policy. Whereas no-load life insurance can be an attractive
What Is Nominal Gross Domestic Product (GDP)? The term nominal gross domestic product (GDP) refers to the GDP evaluated at current market prices. Put simply, nominal GDP is the total value of all goods and services produced in a given time period less the value of those made during the production process. GDP is the monetary value
