Spousal IRA

A Traditional or Roth IRA established and funded by an individual for his/her spouse.

Investopedia Says:
These plans are typically set up when the spouse has little or no income, as they provide added benefits in that case. The contribution limits and eligibility requirements for a spousal IRA are the same as those for a regular IRA.

Related Links:
Find out about the eligibility requirements, age limits, compensation and contribution limits, and tax deductions. Making Spousal IRA Contributions
Check out the perks designed to promote and preserve your post-work savings - if you're married, that is. The Benefits Of Having A Spouse
Catch-up contributions can help you increase your nest egg. Retirement Savings Tips For 45- To 54-Year-Olds
Here you will find tutorials that are each devoted to one the most common retirement plans, explaining how to establish, fund, and then take distributions from it. Introductory Tour through Retirement Plans

Individual Retirement Arrangement that may be opened in the name of a nonworking spouse. The maximum annual IRA contribution for a married couple, only one of whom is employed, is $8,000 in 2006. The husband and wife can each contribute up to $4,000, as long as their combined compensation is at least that much. For those age 50 or older, each can contribute $5,000, or $10,000 for husband and wife combined. Under the Economic Growth and Tax Relief Reconciliation Act of 2001, the maximum contribution for those under age 50 is scheduled to rise to $5,000 apiece, or a total of $10,000, in 2008. Before 1997, the nonworking spouse could only contribute $250 to his or her IRA. The same rules apply ($4,000 per person rising to $5,000) when both spouses work. Contributions are deductible only if both husband and wife are not actively participating in a qualified retirement plan.