individual retirement account

noun

: ira

Examples of individual retirement account in a Sentence

Recent Examples on the Web
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
At the end of 2024, according to the Investment Company Institute, Americans held $15.2 trillion in individual retirement accounts (IRAs) and another $12.4 trillion in workplace defined contribution plans such as 401(k) 403(b) and 457 plans. Kelly Phillips Erb, Forbes, 21 Mar. 2025 These withdrawals apply to pre-tax individual retirement accounts and workplace plans like 401(k) plans. Kate Dore, Cfp®, Ea, CNBC, 20 Mar. 2025 Getty Images Many investors don’t plan for future taxes when funneling money into a pre-tax 401(k) plan or an individual retirement account. Kate Dore, Cfp®, Ea, CNBC, 8 Mar. 2025 Similarly, a Roth IRA is an individual retirement account where contributions are made with after-tax dollars. James Brewer, Forbes, 25 Feb. 2025 See All Example Sentences for individual retirement account

Word History

First Known Use

1974, in the meaning defined above

Time Traveler
The first known use of individual retirement account was in 1974

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Cite this Entry

“Individual retirement account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/individual%20retirement%20account. Accessed 27 Mar. 2025.

Legal Definition

individual retirement account

noun
individual re·​tire·​ment account
often capitalized I&R&A
: ira
Last Updated: - Updated example sentences
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