A retirement savings plan that allows individuals to save for retirement on a tax-deferred basis. Individuals may contribute up to $2,000 per year in an individual account. For spousal accounts, the limit is $4,000. The amount that is tax deductible varies according to an individual’s access to pension coverage, income tax filing status, and adjusted gross income.
Articles from our resource area experts.
Have a question? Try asking one of our Experts
Have a specific question? Try asking one of our Experts
Unlike most other resources on the web, we have experts from Universities around the country ready to answer your questions.