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An account set up by an individual to hold funds for retirement. Typically, the annual contribution to the account gives rise to an income tax deduction. There are numerous types of IRAs, including a Roth IRA, traditional IRA, SEP IRA, SIMPLE IRA, and self-directed IRA.

Synonyms: IRA, IRAs, individual retirement accounts
Synonyms list (a comma-separated list)
IRA, IRAs, individual retirement accounts