Individual retirement account - In the US, a tax-deferred retirement savings account which may be set up by people in employment. IRA contributions are tax deductible irrespective of income if neither spouse is a member of a qualified plan or trust. A person who is a member of a qualified plan may still deduct IRA contributions providing adjusted gross income is below a certain level. Although savings grow tax free over the term of the plan, when pension benefits are taken, they will be liable to tax.
Individual retirement account : in the us, a tax-deferred retirement savings account which may be set up by people in employment. ira contributions are tax deductible irrespective of income if neither spouse is a member of a qualified plan or trust. a person who is a member of a qualified plan may still deduct ira contributions providing adjusted gross income is below a certain level. although savings grow tax free over the term of the plan, when pension benefits are taken, they will be liable to tax.
Individual retirement account