UNSPSC 64102004: Individual retirement account IRA, personal

A type of individual retirement account IRA established by individuals. Contributions made can be either tax deductible or not. Distributions can be either taxable or tax free --called a Roth IRA in the United States. Similar to other retirement plan accounts, non-qualified distributions may be subject to a penalty upon withdrawal.

UNSPSC 64102004 Individual retirement account (IRA), personal is a Commodity code that does not align with recent state and local procurement activity. The code nominally designates a consumer financial product—a retirement savings vehicle for individuals—but the recent opportunities posted under or near this code taxonomy reflect state and local government demand for institutional investment advisory services, retirement plan administration, treasury management, and specialized financial consulting rather than retail IRA products or services.

State and local governments soliciting under or adjacent to this code are primarily state agencies, county governments, municipalities, and special-purpose districts managing public employee retirement plans, deferred compensation programs, endowments, investment pools, and general treasury portfolios. Washington State Housing Finance Commission, Illinois Department of Commerce & Economic Opportunity, Texas Comptroller of Public Accounts, City of Dallas, Hillsborough County (Florida), Teacher Retirement System of Texas, Orange County Transportation Authority, and Douglas County (Georgia) appear repeatedly across multiple investment advisory, plan administration, and treasury service RFPs and RFQs. Recent solicitations include the Washington State Housing Finance Commission's RFP for an Affordable Homeownership Revolving Construction Catalyst Fund Administrator (posted October 5, 2026; due November 2, 2026), the City of Milpitas RFP for investment advisory services covering both City Investment Portfolio and Section 115 Retirement Trust (posted October 1, 2026; due September 24, 2026), and the Illinois Department of Commerce & Economic Opportunity's RFP for an SSBCI INVENT Investment Advisor (posted September 9, 2026; due October 21, 2026). These opportunities span investment management, fiduciary consulting, plan recordkeeping and administration, treasury services, and specialized financial advisory work for public funds.

Recent activity concentrates in Texas, Florida, California, Washington, Illinois, and Georgia, with secondary activity in other states. The code shows no recent relevant procurement activity aligned with retail IRA products or services; all posted opportunities target institutional financial advisory and asset management capabilities for public-sector entities managing significant portfolios, trust funds, and employee benefit plans. The mismatch between the code's nominal scope (individual retirement accounts) and actual procurement practice (institutional investment and retirement plan administration) signals that this code does not represent a viable business development opportunity in state and local procurement markets.