Individual retirement account and Retirement savings plan

Individual retirement account noun - A retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred.

Retirement savings plan and individual retirement account are semantically related. In some cases you can use "Retirement savings plan" instead a noun phrase "Individual retirement account".

Retirement savings plan noun - A plan for setting aside money to be spent after retirement.

Individual retirement account and retirement savings plan are semantically related. Sometimes you can replace phrase "Individual retirement account" with "Retirement savings plan", this phrases are similar.