A(n)________ is a tax-deferred pension fund with which wage earners supplement other retirement funds.

Question

Quizplus · Accepted Answer

An individual retirement account (IRA) is a tax-deferred pension fund that offers wage earners an opportunity to supplement other retirement funds. The contributions made to IRA are tax-deductible, which means that the amount taxed is reduced, leading to tax savings for the contributor. The funds grow tax-free until withdrawn during retirement.

A(n)________ Is a Tax-Deferred Pension Fund with Which Wage Earners