Automated Clearing House: The Automated Clearing House (ACH) is a system that facilitates electronic funds payments in the United States. The system is run by the National Automated Clearing House Association (NACHA). Plan participants may use the ACH to repay loans against their retirement plan accounts or for withdrawal payments.

Custodian: A person or entity (e.g., bank, trust company, or other organization) responsible for holding financial assets.

Deferral Election (or contribution): Money that is deducted from an employee's paycheck for deposit into their retirement plan account.

Fee: Fees may include recordkeeping, legal, accounting, and other administrative fees and expenses associated with maintaining the Plan. Fees may also include expense ratios of the available mutual funds. Some plans may deduct these fees and expenses from individual accounts in the plan.

Investment Options: The investment choices available to participants through a retirement plan.

Provider of Recordkeeping Services: The organization responsible for completing day-to-day administrative functions of a retirement plan including communications, websites, and call centers to support both participants and plan sponsors. The provider of recordkeeping services provides quarterly statements of investment performance and balances, participant reporting, testing, transaction support, financial counseling, and assistance with regulatory requirements.

Quiet Period: The time period during which you will be unable to make any changes to your retirement plan account(s).

Retirement Plan Committee: The University’s Retirement Plan Committee is composed of faculty and staff representatives and is supported by WFU’s independent advisor, CAPTRUST. They are tasked with the responsibility of overseeing the Wake Forest University retirement plans for the exclusive benefit of participants. The Retirement Plan Committee is generally responsible for oversight of the Wake Forest University retirement plans, including the selection and monitoring of the investment options offered under the plans.