Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “individual retirement account”

individual retirement account

noun [C]
 
 
( abbreviation IRA)
FINANCE in the US, a savings account in which people can put money for their pension in a way that saves them tax. Some types of individual retirement accounts are started by people on their own and some by employers for their employees: set up/contribute to an individual retirement account You can set up an individual retirement account at almost any bank, insurance company, or mutual fund. Contributions to individual retirement accounts are tax-deductible according to certain guidelines.
(Definition of individual retirement account from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of individual retirement account?
Add Cambridge dictionaries to your browser to your website

Word of the Day

past participle

the form of a verb, usually made by adding -ed, used in some grammatical structures such as the passive and the present perfect

Word of the Day

Euphemisms (Words used to Avoid Offending People)

by Kate Woodford,
March 04, 2015
​​​ We recently looked at the language that we use to describe lies and lying. One area of lying that we considered was ‘being slightly dishonest, or not speaking the complete truth’. One reason for not speaking the complete truth is to avoid saying something that might upset or offend people. Words and

Read More 

snapchat verb

March 02, 2015
to send someone a message using the photomessaging application Snapchat We used to have a thing until he got a girlfriend. now

Read More