Individual Retirement Arrangement
/ˌɪndɪˈvɪdʒuəl rɪˈtaɪərmənt əˈreɪndʒmənt/
Definitions
- (n.) A tax-advantaged financial account in the United States designed to help individuals save for retirement with specific contribution limits and tax benefits.
She invested in an individual retirement arrangement to secure her financial future after retiring.
Forms
- individual retirement arrangement
- individual retirement arrangements
Related terms
See also
Commentary
Often abbreviated as IRA, the term 'individual retirement arrangement' encompasses various types of retirement savings accounts governed by IRS rules, crucial for tax planning and retirement strategy.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.