IRA

Categories: Retirement and Pension, Tax, Legal, ,

in the United States, a pension plan, designed for individuals without a company pension plan, that allows annual sums, subject to limits dependent upon employment income, to be set aside from earnings tax-free. Individuals with a company pension may invest in an IRA, but only from their net income. IRAs, including the education ira, designed as a way of saving for children's education, may invest in almost any financial security except real estate.