Financial Advisor, Cona Financial Group, La Verne, CA
An IRA, or Individual Retirement Account, is a retirement plan, but it is not considered a qualified plan. IRAs are discussed in Section 408 of the IRC. Qualified plans are set up by businesses, while some types of IRAs (traditional or Roth) are established by individuals.
There are some types of IRAs, (SEPs and SIMPLE IRAs, for example), that must be established by an employer.
.JPG){kind=avatar}
There are some types of IRAs, (SEPs and SIMPLE IRAs, for example), that must be established by an employer.