What is another word for self-funded retirement plans?
Pronunciation: [sˈɛlffˈʌndɪd ɹɪtˈa͡ɪ͡əmənt plˈanz] (IPA) 
Self-funded retirement plans are investment packages that enable individuals to save for their retirement. These plans are also referred to as self-directed, self-administered, or self-managed retirement plans. These synonyms emphasize the fact that the individual investor is responsible for making all investment decisions, as opposed to leaving those decisions to a fund manager. Other synonyms include individual retirement accounts (IRAs), which are accounts that individuals can set up with financial institutions to save for retirement, and 401(k) plans, which are employer-sponsored retirement plans. Regardless of what they are called, these plans are an important tool for individuals looking to take control of their retirement savings and ensure a secure financial future.
