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- A retirement savings program for individuals to which yearly tax-deductible contributions up to a specified limit can be made. The amount contributed is not taxed until withdrawn. Withdrawal is not permitted without penalty until the individual reaches age 59 1/2.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
- Availability policy, Inactive account, Negotiable Order of Withdrawal Account (NOW), Passbook, Time deposit, Uniform Gift to Minors Account