individual retirement account

noun

: ira

Example Sentences

Recent Examples on the Web The fourth-quarter analysis also showed far fewer individual retirement account (IRA) millionaires, which fell 25 percent to 280,320. Michelle Singletary, Washington Post, 24 Feb. 2023 After all, sharply rising prices at the supermarket or the gas pump are bad news for just about everybody who relies on a paycheck or a pension, or income from an individual retirement account or 401(k) or Social Security. Jeff Sommer, New York Times, 17 Feb. 2023 Fried moved back to Maryland from Louisiana, gave up her corporate career and lived off of her individual retirement account as bills piled up. Ethan Ehrenhaft, Baltimore Sun, 23 Feb. 2023 Each month, Seeley, a retired teacher, gets $925 from Social Security and a $287 disbursement from an individual retirement account. Fortune, 25 July 2022 There are several options for what to do with the money in a 401(k), including rolling the funds into a new employer’s 401(k) plan, transferring the money to an individual retirement account (IRA), taking distributions, and cashing out entirely. Mia Taylor, Fortune, 5 Dec. 2022 Another decisive step investors can take in a bear market is to consider converting a traditional individual retirement account into a Roth IRA. Jason Zweig, WSJ, 8 July 2022 Charles Maggio of Ellicott City needed to tap his individual retirement account, and face early withdrawal tax penalties, to pay for his son’s upcoming semester at the University of Delaware. Danielle Douglas-gabriel, Washington Post, 21 Dec. 2022 Collibee also noted a new income tax exemption beginning soon for individual retirement account proceeds would mean the state will collect about $78 million less by the 2023-24 fiscal year. Keith M. Phaneuf, Hartford Courant, 15 Dec. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'individual retirement account.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Word History

First Known Use

1974, in the meaning defined above

Time Traveler
The first known use of individual retirement account was in 1974

Dictionary Entries Near individual retirement account

Cite this Entry

“Individual retirement account.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/individual%20retirement%20account. Accessed 24 Mar. 2023.

Legal Definition

individual retirement account

noun
individual re·​tire·​ment account
often capitalized I&R&A
: ira
Last Updated: - Updated example sentences
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