Roth IRA

Roth IRA definition - legal

n

A special form of individual retirement account, in which contributions are not tax deductible when made, but that compensates by making the gains distributable tax free upon the owner’s reaching age 70sup>1/sup>⁄2. See also individual retirement account and Keogh Plan.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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