HR Glossary

What is IRA - Individual Retirement Account?

A personal tax-advantaged retirement savings account in the United States that allows individuals to contribute pre-tax or after-tax dollars toward retirement, with contribution limits set annually by the IRS.

Why it matters in hiring

IRA - Individual Retirement Account comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with I

• I-9 Form
• Implicit Bias
• Incentive Pay
• Income Protection Insurance (UK / Australia)
• Independent Contractor
• Induction Program
• Industrial Disputes Act
• Internal Mobility

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