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Spendthrift trust. In trust law, a spendthrift trust is a trust that is created for the benefit of a person (often unable to control his/her spending) that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary. Creditors of the beneficiary generally cannot reach ...
Spendthrift. A spendthrift (also profligate or prodigal) is someone who is extravagant and recklessly wasteful with money, often to a point where the spending climbs well beyond their means. Spendthrift derives from an obsolete sense of the word thrift to mean prosperity rather than frugality, [1] so a "spendthrift" is one who has spent their ...
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. [7] The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks. [1][8][9] Its bank operates 2,781 branches in 15 states and Washington, D.C., offering consumer and commercial banking, securities brokerage, asset ...
Empower (financial services) Empower Annuity Insurance Company of America is a retirement plan recordkeeping financial holding company based in Greenwood Village, Colorado, United States. [7] It is the second-largest retirement plan provider in the United States. [8]
Thrift Savings Plan. TSP logo. The Thrift Savings Plan (TSP) is a defined contribution plan for United States civil service employees and retirees as well as for members of the uniformed services. As of December 31, 2023, TSP has approximately 7 million participants (of which approximately 4.1 million are actively participating through payroll ...
The Federal Retirement Thrift Investment Board is an independent agency of the United States government by the Federal Employees Retirement System Act of 1986. It has roughly 270 employees. It was established to administer the Thrift Savings Plan, which is a retirement savings and investment plan for federal employees and members of the uniformed services, including the Ready Reserve. The ...
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. While the terms "S&L" and "thrift" are mainly used in the United States, similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are ...
First Republic Bank was a commercial bank and provider of wealth management services headquartered in San Francisco, California. It catered to high-net-worth individuals and operated 93 offices in 11 states, primarily in New York, California, Massachusetts, and Florida. [2] On May 1, 2023, as part of the 2023 United States banking crisis, the FDIC announced that First Republic had been closed ...