Catch-Up Contribution

Contact Us

It's a good time to put something extra into your IRA

Retirement is right down the road. Make sure you're ready.

The fact is, many people underestimate how much savings they'll need to live comfortably after they stop working. The good news is adults over age 50 are allowed to contribute additional funds to their IRAs. It's a good idea to accelerate your savings so your retirement account will be just as full as you need it to be. 

  • Invest up to $7,000 per year for individuals under age 50.
  • The maximum limit for individuals 50 years of age and older is $8,000 (this includes a catch up contribution of $1,000.00) 
  • Choose from Retirement Savings and CDs
  • Get tax advantages from both Roth and Traditional IRAs
  • No commissions or fees* to open
  • No annual fees*
  • Accounts are FDIC insured*
  • Access to account information with Telephone Banking*
* Applies to Berkshire Bank funds only
All contribution limits listed above are accurate for 2024. 
 

Think Forward

Tools to help you get ahead