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US workplace terms

IRA

Individual retirement account: a personal US retirement account with tax advantages, outside an employer's plan. A Roth IRA is taxed now and tax-free later.

A plain-English explanation of how this usually works in the US, not legal, tax or financial advice. Rules differ between states and change over time, so check your own situation. Disclaimer.

You'll hear it as

I rolled my old 401(k) into an IRA.

Also called Roth IRA.

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