Federal Insurance Contributions Act – a US Federal payroll (or employment tax) imposed on both employees and employers to fund Social Security and Medicare
An Individual Retirement Arrangement which is a special type of retirement plan under US law that is generally not taxed, provided certain conditions are met. The Roth IRA's principal difference from most other tax advantaged retirement plans is that, rather than granting a tax break for money placed into the plan, the tax break is granted on the money withdrawn from the plan during retirement.