Expendable trust fund

Expendable trust fund,

Definition of Expendable trust fund:

  1. Asset accounts held by a state whose principal and interest is used to pay for operations. The state operates as a trustee. Types of expendable trust funds include unemployment funds used to pay for unemployment benefits and funded by employer contributions, and state pensions in which money is held for an employee until retirement.

Meaning of Expendable trust fund & Expendable trust fund Definition