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Catch-Up Contribution

Build up your retirement savings with a fast sprint to the finish line.
Higher contribution limits for people over 50
Applies to both Traditional and Roth IRAs
Tax benefit stretch your dollars further

Right now is a good time for a little extra effort.

You have a lot of exciting plans for your golden years. Would it help to have more money to work - and play - with? The answer is almost surely yes.

There's an easy way to beef up your retirement savings. If you're age 50 or over, you can add $1,000 a year to your IRA contributions. Those extra deposits earn interest, enjoy tax breaks and - over time - help you build a bigger nest egg.

  • Invest up to $8,000 per year if you're age 50 or over
  • Put your money in Retirement Savings, CDs or both
  • Enjoy tax advantages from both Roth and Traditional IRAs
  • No account opening fees, annual fees or commissions*
  • Deposits are protected by the Federal Deposit Insurance Corp. (FDIC)*
  • Access accounts with Online, Mobile or Telephone Banking*

Disclosures:

* Applies to Berkshire Bank funds only 
All contribution limits listed above are accurate for 2024.

Berkshire Bank is a full-service financial institution with branches in CT, MA, NY and other parts of the Northeast.

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