Which one of the following statements is correct (true)? Multiple Choice When distributions are taken from a Roth IRA at retirement (e.g. by an individual 65 years old) the contributions made to the plan are taxable but and income & gains are not taxable. Deferring payment of taxes in retirement plans is generally desirable due to time value of money effects. Generally, Roth IRAs generate "tax-deferred growth" rather than "tax-free growth". A "balanced" mutual fund is so named because it has approximately equal holdings in both US based company stocks and precious metals (e.g. gold and platinum).