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Individual Retirement Account or Individual Retirement Arrangement (IRA)
Practical Law Glossary Item w-001-8344 (Approx. 2 pages)
Glossary
Individual Retirement Account or Individual Retirement Arrangement (IRA)
A trust or custodial account established by an individual that allows the individual to save for retirement on a tax deferred basis. There are two types of IRAs:
- Traditional IRAs.
- Roth IRAs.