joint welfare fund

noun

1. : a sum of money or other resources whose principal or interest is set aside for a specific objective

   — client security fund
   : a fund established by each state to compensate clients for losses suffered due to their attorneys' misappropriation of funds

   — common trust fund
   : an in-house trust fund established by a bank trust department to pool the assets of many small trusts for greater diversification in investing

   — executor fund
   : a fund established in estate planning to provide for the payment of final expenses by an executor

   — joint welfare fund
   : a fund that is established by collective bargaining to provide health and welfare benefits to employees and that is jointly administered by representatives of labor and management

   — paid-in fund
   : a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses

   — sinking fund
   : a fund set up and accumulated by regular deposits for paying off the principal on a debt or for other specified purposes (as self-insurance)

   — strike fund
   : a fund accumulated by a union through special assessments or from general funds and used to pay striking workers or for other strike-related activities

   — Taft-Hartley fund
   : joint welfare fund in this entry

   — trust fund
   : property (as money or securities) settled or held in a trust

2. : an organization administering a special fund

   — exchange-traded fund
   : a fund that is similar to an index fund in tracking a stock index but that is traded on the stock market

   — growth fund
   : a mutual fund that invests in the stock of growth companies

   — hedge fund
   : an investing group usually in the form of a limited partnership that employs speculative techniques in the hope of obtaining large capital gains

   — index fund
   : a mutual fund that invests to reflect the composition of the market as a whole by matching its investments to a stock index

   — mutual fund
   : an investment company that invests its shareholders' money in a usually diversified group of securities of other companies

   — vulture fund
   : an investment company that buys up bankrupt or insolvent companies with the goal of reorganizing them so they can be profitably resold as going concerns

transitive verb

1. a : to make provision of resources for discharging the principal or interest of

   b : to provide financial resources for

2. : to place in a fund

3. : to convert into a debt that is payable either at a distant date or at no definite date and that bears a fixed interest