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I want to know if Teacher Retirement services count as an IRA?

Forum|Forum|7 years ago
June 3, 2019
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Best answer by DanielV01

Probably not technically an IRA. An IRA is an individual retirement account and is set up similar to a bank account or a mutual fund. Your Teacher Retirement services is likely a pension. They are similar in how they are taxed and reported, but you will know for sure if you look at the little check box next to box 7. If that box (SEP, IRA, Simple) is checked, then it is an IRA. If it is blank, it is not.

DanielV01Answer

Employee

Probably not technically an IRA. An IRA is an individual retirement account and is set up similar to a bank account or a mutual fund. Your Teacher Retirement services is likely a pension. They are similar in how they are taxed and reported, but you will know for sure if you look at the little check box next to box 7. If that box (SEP, IRA, Simple) is checked, then it is an IRA. If it is blank, it is not.

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