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• individual retirement account
  individual retirement account

  noun

  a savings plan that offers tax advantages to an individual depositor to set aside money for retirement. IRA
• Individual Retirement Account
  Individual Retirement Account

  A retirement plan. The “traditional” IRA allows individuals to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement. The “Roth” IRA allows individuals to contribute aftertax earnings and pay no taxes on future withdrawals. In contrast to a 401(k) plan, an IRA is funded entirely by the individual tax payer.

individual retirement account

American  

noun

1. a savings plan that offers tax advantages to an individual depositor to set aside money for retirement. IRA

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Individual Retirement Account Cultural  

1. A retirement plan. The “traditional” IRA allows individuals to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement. The “Roth” IRA allows individuals to contribute aftertax earnings and pay no taxes on future withdrawals. In contrast to a 401(k) plan, an IRA is funded entirely by the individual tax payer.

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Example Sentences

See Examples For:

individual retirement account Individual Retirement Account

The first person rolls everything into an individual retirement account, or IRA.

From MarketWatch ● Sep. 10, 2026

I used Microsoft Copilot to create a spreadsheet to estimate the tax cost of making transfers out of my individual retirement account to my Roth IRA.

From The Wall Street Journal ● Mar. 8, 2026

Vanguard researchers found that 6.7% of the firm’s individual retirement account holders age 73 and up had missed taking their RMDs in 2024.

From Barron's ● Dec. 24, 2025

Ms. Phipps, 72, said that her annual income consisted of money withdrawn from an individual retirement account, about $50,000 from Social Security and $20,000 from a pension.

From New York Times ● Dec. 16, 2023

Joseph Nye, an eminent professor emeritus at Harvard, told me that he had been thinking of donating part of his individual retirement account to Harvard when a friend suggested a community college instead.

From Seattle Times ● Jul. 28, 2023

It streamlined income tax brackets, lowered the top rate to 36% and created the universally deductible Individual Retirement Account.

From The Wall Street Journal ● Aug. 13, 2026

I have about $150,000 in an Individual Retirement Account and about $2,000 in a money-market account.

From MarketWatch ● Nov. 14, 2025

The average Individual Retirement Account balance in the third quarter of 2020 for people over 60 was slightly more than $200,000, according to Fidelity Investments.

From Seattle Times ● Feb. 3, 2021

She drew on a Roth Individual Retirement Account, not a traditional I.R.A., and did not have to pay early withdrawal penalties.

From New York Times ● May 16, 2019

Unless these people act on their own to set up an Individual Retirement Account or something like it, they’ll face old age without savings.

From Washington Times ● Aug. 1, 2016