Individual Retirement Accounts Turn 30 AP Online | March 3, 2004| | . This material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information) Copyright

EILEEN ALT POWELL, AP Business Writer
AP Online
03-03-2004
Dateline: NEW YORK
Happy 30th birthday to the Individual Retirement Account.

Created by Congress in 1974, the IRA has become a useful tool for workers to save for retirement, especially those who don't have a company-sponsored plan.

Americans had an estimated $2.33 trillion in IRA accounts at end of 2002, according to the most recent figures from the Investment Company Institute trade group in Washington, D.C. That represented about one-fifth of total retirement savings of $10.15 trillion.

Although attention in recent years has focused ...

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