{"iri":"https://folio.openlegalstandard.org/RB6ePdof62o3oIWPXS4Iezm","label":"Individual Retirement Account","sub_class_of":["https://folio.openlegalstandard.org/RC6vjtn3GZLRw0qRl5YjMwV"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"IRA","alternative_labels":[],"translations":{},"hidden_label":null,"definition":"An Individual Retirement Account (IRA) is a personal savings account that offers tax advantages for individuals to save money for retirement. It allows contributions to grow tax-deferred until withdrawal, either in traditional IRAs (pre-tax contributions) or Roth IRAs (after-tax contributions), with different tax implications depending on the type chosen","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}