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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individuals to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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individuals to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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

When the child turns 18, the account becomes a traditional individual retirement account, or IRA.

From MarketWatch ● Jul. 6, 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

Beyond that, older adults can make a contribution to a traditional, pretax individual retirement account.

From Barron's ● Nov. 13, 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 Phipps, 72, said that her annual income consisted of money withdrawn from an individual retirement account, about $50,000 from Social Security and $20,000 from a pension.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

A Roth IRA, or individual retirement account, is another option for older grandchildren who earn money, Lindquist says.

From Seattle Times ● Dec. 4, 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 company on Tuesday is initiating signups for a retirement program, where customers can sock savings into an Individual Retirement Account, something better known as an IRA.

From Washington Times ● Dec. 6, 2022

In 1982, Congress created the Individual Retirement Account, or I.R.A., which allowed people to defer taxes on $2,000 a year if they put it aside for retirement.

From New York Times ● Apr. 2, 2022

The Individual Retirement Account, better known as the IRA, was created in 1974.

From Seattle Times ● Mar. 24, 2022