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Retirement Services

IRAs - Helping you plan for Retirement

We offer several options to help you plan for your retirement with ease. We want to be the bank you turn to when it comes to saving for your future. If you're building for your future or just getting ready to begin saving, searching for a place to transfer an existing IRA account, or looking for the best rate on a rollover from an employer sponsored plan such as a 401K, please review our IRA options below. We encourage you to stop in or call us anytime to discuss your personal needs in detail. Keep in mind that Retirement Accounts at Equitable Bank are insured in full through a combination of FDIC insurance and SIF insurance.

When establishing any type of IRA with us, you can choose from our selection of Certificates of Deposit with a minimum balance of $500.00 or a Money Market Deposit Account with as little as $25.00 for the investment of your funds.

Traditional IRA

Setting up a Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Contributions may be tax deductible for the tax year for which they are made. You can establish a Traditional IRA if you are younger than 70 � for the entire tax year and you (or your spouse) have earned income.

If you have an existing IRA and would like to transfer your account from another institution, we offer great rates. Likewise, if you need to rollover your retirement account from your employer sponsored retirement plan, just come see us. Either way, we'll take care of everything for you; we're here to help make it as simple and easy as possible!

Please refer to the IRS�s Traditional IRAs Webpage for specific guidelines governing this product.

Convenience Forms for Existing IRA Customers:

IRA Contribution Form
IRA Transfer Request Form
IRA Withdrawal Form
IRA Designation of Beneficiary

Please fax or mail completed form to:

Fax number:	781-598-0928
Mail to:	Equitable Bank 400 Broadway Lynn, MA 01904

If you have any questions or need help please call us at 781-599-5600 or email onlinecustomerservice@equitablebank.com

Roth IRA

Establishing a Roth IRA allows non-tax deductible contributions and features tax-free withdrawals for certain distribution reasons after a five year holding period. You may be eligible to establish a Roth IRA dependent upon your level of earned income; please see us or call for details.

If you'd like to transfer an existing Roth IRA from another institution, we offer great rates and will be happy to assist you in the process. Or, you can convert your Traditional IRA into a Roth account for greater benefits. Again, we'll make the process easy for you. All you have to do is come in and see us!

Please refer to the IRS�s ROTH IRAs Webpage for specific guidelines governing this product.

Convenience Forms for Existing ROTH IRA Customers:

ROTH IRA Withdrawal Form
ROTH IRA Transfer Request Form
ROTH IRA Designation of Beneficiary

Please fax or mail completed form to:

Fax number: 781-598-0928

Mail to: Equitable Bank
400 Broadway
Lynn, MA 01904

Coverdell Education Savings Account

The Coverdell Education Savings Account (CESA), formerly know as an Education IRA, allows you to make an annual non-deductible contribution to a specially designated investment trust account to save money towards a child's education. Your account will grow free of federal income taxes, and if all goes well, withdrawals from the account will be completely tax-free as well. You will need to meet certain requirements in the years you wish to make the contributions, and in the years you take withdrawals.

Please refer to the IRS�s Coverdell Education Savings Account (ESA) Webpage for specific guidelines governing this product.

Please call us for more information about opening or transferring funds into a Coverdell Education Savings Account.