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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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

In contrast, with an individual retirement account, they would typically forfeit 10% of the money they pull out before age 59½.

From The Wall Street Journal ● Jun. 14, 2026

At that point, the accounts are treated like an individual retirement account, and withdrawals are taxed as ordinary income.

From MarketWatch ● Jun. 11, 2026

This gives I bonds a quality like an individual retirement account.

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 Phipps, 72, said that her annual income consisted of money withdrawn from an individual retirement account, about $50,000 from Social Security and $20,000 from a pension.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

Last month, given the choice of putting money into my individual retirement account or spending it on a French brass clock, it took about 45 minutes to choose the latter course.

From Seattle Times ● Jul. 8, 2023

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

From MarketWatch ● Nov. 14, 2025

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 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

The regulator clarified that brokers have to comply with the rules when they transfer customers to an Individual Retirement Account from another retirement account.

From Los Angeles Times ● Jun. 5, 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