NOUN | cognition | individual retirement account, IRA | a retirement plan that allows you to contribute a limited yearly sum toward your retirement |
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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. | |
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Synonym | IRA | |
Broader | pension plan, pension account, retirement plan, retirement savings plan, retirement savings account, retirement account, retirement program | A plan for setting aside money to be spent after retirement |
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