Secure Your Future With An
Individual Retirement Account

Is an IRA Right For You? Take our North Brookfield Savings Bank IRA Test and find out. Then call one of our customer service representatives today at 508-867-7442.

How will your IRA be invested? It's up to you. Choose from any of our CD's, our Tiered Money Market Account, or a Traditional Savings Account.

IRA Contribution Chart You may contribute any amount up to 100% of your compensation or contribution limit, whichever is less, to a traditional IRA (or aggregated between a traditional and a Roth IRA). But remember, you still benefit from making yearly contributions even if you can’t afford to contribute the maximum amount – don’t wait to establish your IRA!

IRA Contribution Limits

Tax Year	Under Age 50 Traditional & Roth IRA	Age 50-70 1/2 Traditional & Roth IRA	Over Age 70 1/2 Roth IRA
2006	$4,000	$5,000	$5,000
2007	$4,000	$5,000	$5,000
2008	$5,000	$6,000	$6,000

You can save on your present taxes with an Individual Retirement Account, by deducting what your qualified contributions from your taxable income. Most Americans can deduct all or part of their IRA contributions from current income taxes. The deductible amount depends on your income, marital status and whether you're an active participant in an employer sponsored plan as defined by the Internal Revenue Service.

With an Individual Retirement Account, You also defer taxes by putting them off until you retire, when you may be in a lower tax bracket. The chart below shows you how much you may be able save each year. You may want to consult your tax advisor to review your particular situation on the tax deductible status of an IRA. Or for more general information, you can speak to one our IRA specialists. But, regardless of the amount you'll be able to save now on taxes an IRA is a smart way for you to save for a secure retirement.

IRA Tax Savings Potential Chart

IRA Deductible Contribution Amount	15 % Tax Bracket Savings	28 % Tax Bracket Savings	31 % Tax Bracket Savings	36 % Tax Bracket Savings	39.6 % Tax Bracket Savings
$ 500	$ 75	$ 140	$ 155	$ 180	$ 198
$ 1,000	$ 150	$ 280	$ 310	$ 360	$ 396
$ 2,000	$ 300	$ 560	$ 620	$ 720	$ 792
$ 2,250	$ 337	$ 630	$ 697	$ 810	$ 891
$ 4,000	$ 600	$ 1,120	$ 1,240	$ 1,440	$ 1,584

If You're Changing Employers, An IRA Rollover Makes Sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer's retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan. You can ask your employer to arrange for a "direct rollover" of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover.