MLchartDataset catalogue

Individual retirement account

Term · Law · MLC-T-LAW-002608

A tax-advantaged savings plan designed to encourage individuals to save for retirement. Contributions to an IRA, up to certain limits, may be tax-deductible, and earnings grow tax-deferred or tax-free, depending on the type of IRA. The Internal Revenue Code sets forth the rules and contribution limits for these accounts.

Table 1. Record
IdentifierMLC-T-LAW-002608
FieldLaw
AbbreviationIRA
Record as JSON 
{
  "id": "MLC-T-LAW-002608",
  "term": "Individual retirement account",
  "field": "Law",
  "definition": "A tax-advantaged savings plan designed to encourage individuals to save for retirement. Contributions to an IRA, up to certain limits, may be tax-deductible, and earnings grow tax-deferred or tax-free, depending on the type of IRA. The Internal Revenue Code sets forth the rules and contribution limits for these accounts.",
  "abbreviation": "IRA",
  "url": "https://mlchart.com/terminology/law/individual-retirement-account/"
}

Record 2,534 of 5,445 in Law terminology (MLC-0107). Request the full dataset.