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IRS Retirement Account Flavors
Old 07-24-2019, 10:02 AM   #1
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IRS Retirement Account Flavors

There are quite a few "flavors" of IRS-recognized accounts. There are a few categories which have lot of similarities between them, and a few differences. Yesterday I saw a post that described these accounts that I think might be a useful reference. For me, the usefulness comes in how the accounts open to public employees relate to the ones I'm familiar with [i.e. 401(k)].
  • Pre-Tax Individual Retirement Accounts
  • Rollover IRA
  • Custodial IRA
  • Post-Tax Roth Individual Retirement Accounts
  • Custodial Roth IRA
  • Inherited Roth IRA
  • 401(k) plan
  • 403(b) plan or Tax-Sheltered Annuity or TSA plan
  • 457(b) plan or Deferred Compensation Plan
  • Simplified Employee Pension IRA or SEP IRA
  • SIMPLE IRA or Savings Incentive Match Plans for Employees
The descriptions for each of the above are in this article, if you've ever wondered about the differences between some of these.

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Old 07-24-2019, 10:32 AM   #2
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The list is definitely missing:

* Inherited traditional IRA

And depending on how you view things, it may also be missing:

* Taxable account
* Health Savings Account

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Old 07-24-2019, 10:35 AM   #3
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And you can inherit a tIRA as a spouse or as a non-spouse, with significantly different RMD requirements.
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Old 07-24-2019, 11:32 AM   #4
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Also there can be non-deductible (post-tax) contributions in a Traditional IRA
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