Definitions

Retirement Savings Account

Retirement Savings Account

A Retirement Savings Account is a type of retirement plan account that is envisioned to replace all three different types of Individual Retirement Accounts that are currently used in the United States: traditional IRA, Roth IRA and Simple IRA. Contributions would be made on an after-tax basis. This is a major part of what the George W. Bush Administration calls "ownership society."

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