individual retirement account

individual retirement account
( IRA)
A retirement account that may be established by an employed person. IRA contributions are tax deductible according to certain guidelines, and the gains in the account are tax-deferred. Bloomberg Financial Dictionary

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individual retirement account individual retirement account account1

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individual retirement account UK US noun [C] (ABBREVIATION IRA)
FINANCE in the US, a savings account in which people can put money for their pension in a way that saves them tax. Some types of individual retirement accounts are started by people on their own and some by employers for their employees: set up/contribute to an individual retirement account »

You can set up an individual retirement account at almost any bank, insurance company, or mutual fund.

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Contributions to individual retirement accounts are tax-deductible according to certain guidelines.


Financial and business terms. 2012.

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Look at other dictionaries:

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