What type of retirement account was established by the tax payer relief actof 1997?

The Taxpayer Relief Act of 1997 established the Roth IRA (Individual Retirement Account). This type of retirement account allows individuals to contribute after-tax income, and qualified withdrawals during retirement are tax-free. The act aimed to encourage savings for retirement by providing tax advantages to individuals. Additionally, it introduced features like the ability to withdraw contributions without penalty, making it more flexible for account holders.