HomeTermsCompareFinance IRA (individual Retirement Account)The definition for IRA (individual Retirement Account):Savings programs available to individuals. The plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA'S. Click to compare definitions of IRA (individual Retirement Account) Click to view definitions beginning ir |