IRA
1 of 2noun
ˌī-(ˌ)är-ˈā 
ˈī-rə
ˈī-rə plural IRAs
: a retirement savings account in which income taxes on certain deposits and on all gains are deferred until withdrawals are made
IRA
2 of 2abbreviation
Irish Republican Army
Example Sentences
Abbreviation a representative of the IRA
Word History
Etymology
Noun
initialism from individual retirement account or individual retirement arrangement
First Known Use
Noun
1974, in the meaning defined above
Legal Definition
IRA
noun
ˌī-ˌär-ˈā, ˈī-rə
: an account in which a person may deposit up to a stipulated amount each year and that is not taxable until retirement or early withdrawal
Note: Deposits to an IRA may not be completely or partially deductible from adjusted gross income if one's income exceeds a set level.
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