A form of Individual Retirement Account (IRA) permitted by the Employee Retirement Income Security Act of 1974 (ERISA) in which contributions are paid to the bank"s interest bearing financial instruments or a self directed account. The dissimilarity between self directed account as well as the interest bearing financial instrument of the bank is the investor is in charge of investment choices. Self directed accounts are often set up with a brokerage as well as an amount above trading prices is billed.