individual retirement account

a savings plan that offers tax advantages to an individual depositor to set aside money for retirement. Abbr.: IRA Cf. Keogh plan.

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Universalium. 2010.

Look at other dictionaries:

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  • Individual Retirement Account — tax deferred trust fund into which individual employees can deposit part of their salaries for withdrawal after retirement, IRA …   English contemporary dictionary

  • individual retirement account — IRA A US pension plan that allows annual sums to be set aside from earnings free of tax and accumulated in a fund, which pays interest. Basic rate tax is payable once the saver starts to withdraw from the account, which must be done no later than …   Big dictionary of business and management

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