Retirement Account

Retirement Account - A Retirement Account is a financial account designed to help individuals save for their retirement, often offering tax advantages. Types of retirement accounts include 401(k)s, Individual Retirement Accounts (IRAs), and pension plans, among others, and they typically come with restrictions on withdrawals to incentivize long-term saving. Relevant to several areas of law (e.g., Bankruptcy Law).

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RC6vjtn3GZLRw0qRl5YjMwV
Label (rdfs): Retirement Account
Preferred Label: None
Alternative Labels: 401(k), Individual Retirement Account, Pension
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Definition and Examples

Definition: A Retirement Account is a financial account designed to help individuals save for their retirement, often offering tax advantages. Types of retirement accounts include 401(k)s, Individual Retirement Accounts (IRAs), and pension plans, among others, and they typically come with restrictions on withdrawals to incentivize long-term saving. Relevant to several areas of law (e.g., Bankruptcy Law).
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Translations

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Class Relationships

Sub Class Of: Equities Investment Assets
Parent Class Of: Pension Account

Individual Retirement Account

Employer-Sponsored Retirement Account
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Additional Information

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Deprecated: False

Metadata

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