Legal Definition of Ira
Meaning of Ira
Individual retirement account. A pension plan with tax advantages. IRAs permit investment through intermediaries like mutual funds, insurance companies and banks, or directly in stocks and bonds through stockbrokers. (See: Keogh Plan)
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Ira in Historical Law
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Legal Abbreviations and Acronyms
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Concept of Ira (individual Retirement Account in the context of Real Property
A short definition of Ira (individual Retirement Account: Savings programs available to individuals. These 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 This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket.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.
Concept of Ira (individual Retirement Account in the context of Real Property
A short definition of Ira (individual Retirement Account: Savings programs available to individuals. These 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 This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket.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.
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