Individual Retirement Account

Identification

IRI:

https://folio.openlegalstandard.org/RB6ePdof62o3oIWPXS4Iezm

Label Individual Retirement Account

Preferred Label IRA

Identifier N/A

Alternative Labels

None

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

Class Relationships

Sub Class Of

• Retirement Account

Is Defined By

N/A

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

None

Description

None

Notes

• None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available