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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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to contribute pretax earnings up to a maximum yearly allowance and to defer income taxes until the money is withdrawn after retirement.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

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

You can put more money than ever into your individual retirement account in 2026 — if you can afford to.

From MarketWatch • Dec. 29, 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 Phipps, 72, said that her annual income consisted of money withdrawn from an individual retirement account, about $50,000 from Social Security and $20,000 from a pension.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

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