Personal Personal IRAs Which Individual Retirement Arrangement (IRA) provides the right tax advantages for you and your family? Several programs allow you to invest with different ways to handle the tax burden: Traditional IRA Roth IRA SEP IRA Key Features This IRA allows you to save for retirement with pre-tax assets. You will defer paying tax until the funds are withdrawn at retirement. The Roth plan allows you to invest with after-tax assets, which means you pay the tax up front and after-retirement withdrawals are tax free. A Simplified Employee Pension IRA for the self-employed or small companies allows higher maximum contributions of pre-tax earnings each year.