individual retirement account

Definitions of individual retirement account
  1. noun
    a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred
    synonyms: IRA
    see moresee less
    type of:
    pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account, retirement savings plan
    a plan for setting aside money to be spent after retirement
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