Savings and Investments

Individual Retirement Accounts

What is an IRA?

IRAs, or Individual Retirement Accounts, were created in 1974, under an act of Congress called the Employee Retirement Income Security Act (ERISA), which gives individuals who do not have access to an employer-sponsored retirement plan the means to having one. It gives individuals the ability to preserve their tax advantages and growth opportunities of having a retirement plan when they leave their jobs.


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