INDIVIDUAL RETIREMENT ACCOUNT

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

A retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred

Synonyms:

individual retirement account; IRA

Classified under:

Nouns denoting cognitive processes and contents

Hypernyms ("individual retirement account" is a kind of...):

pension account; pension plan; retirement account; retirement plan; retirement program; retirement savings account; retirement savings plan (a plan for setting aside money to be spent after retirement)

Credits