May 12, 2009

Retirement Account (or Retirement Savings Account)

Your Guide

Definition

An account that is established for the purpose of saving for retirement.

Retirement accounts can include features such as:
  • Tax-deferred growth on earnings
  • Tax-free growth on earnings
  • And earnings that are taxed for the year in which the earnings are accrued- commonly referred to as after-tax accounts.
Referring Cites
IRC § 408(a), IRC § 408A, IRC § 401(a), IRC § 403(a), IRC § 403(b), IRC § 457(b)
Additional Helpful Information
Tax-deferred retirement savings include:
Tax-free retirement savings accounts include:
After-tax accounts include regular savings accounts

Written By

Retirement Dictionary Staff

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