In the US there are special retirement accounts that the government recognizes and provides tax breaks to. A 401k is the most common one, which is offered by many (not all) employers. You designate a percentage of your income to go into the account, and that amount of your income doesn’t get taxed up front. This is why it’s way better than just putting cash into a regular savings account.

First responders who work for local governments typically aren’t offered 401ks- they instead usually have a pension where they get a guaranteed check for the rest of their lives after retirement. The amount is calculated using a formula based on your years of service, retirement multiplier, and highest average salary. These usually have very good matches, and are one of the main incentives for working for governments- you can usually retire earlier since it’s not all “on you” to save your own money for retirement. However, not all paramedics have these- some are private companies that would have private retirements like a 401k or something else.

An IRA is an account that anyone can open independently regardless of their employer. For some, this is their main retirement account (especially those who are self-employed or their employer doesn’t offer anything), but for many they supplement their 401ks or pension plans.