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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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

In this week’s Don’t Short Yourself newsletter, Gordon Gottsegen explained how he corrected a tax-related mistake he made when contributing to an individual retirement account.

From MarketWatch • Mar. 6, 2026

Last year’s law also introduced a new type of individual retirement account called a Trump account.

From The Wall Street Journal • Jan. 26, 2026

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

From Barron's • Nov. 13, 2025

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

Teenagers with earned income can contribute to a special retirement account known as a Roth individual retirement account.

From New York Times • Jun. 2, 2023