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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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

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

If you have an individual retirement account, your contribution limit for 2026 is $7,500, with an additional $1,100 catch-up contribution allowed if you are 50 or older.

From MarketWatch ● Dec. 26, 2025

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 Phipps, 72, said that her annual income consisted of money withdrawn from an individual retirement account, about $50,000 from Social Security and $20,000 from a pension.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

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

John Jackson, 66, of Fort Lauderdale, Florida, contributed to an Individual Retirement Account when he worked as a manager.

From Seattle Times ● May 18, 2017

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