Frequently asked questions about Roth Ira What is the difference between a Traditional IRA and a Roth IRA? Traditional IRA A Traditional IRA is the IRA originally approved by the US government. The Traditional IRA has two main benefits. payment of tax proceeds from the IRA is deferred until the funds are extracted. For many taxpayers, contributions to the IRA are tax deductible. Roth IRA A Roth IRA is a newer plan for retirement savings. The primary benefit of a Roth IRA is that … [Read more...] about Frequently asked questions about Roth Ira