This are the next generation of retirement accounts. Roth Plans are the new retirement savings programs with very similar benefits of a regular IRA. The main difference between the two is: First and foremost there is no Income Tax Deduction for contributions made to the ROTH IRA. In exchange for giving up the current tax deduction if you delay taking your withdrawals until after age 59 ½, the withdrawals, including all of the earnings on the account, will come out INCOME TAX FREE. This is based on current tax law. I currently have many retired clients who only had available to them regular IRA’s.