Individual Retirement Accounts (IRAs)

IRAs are a great way to save for retirement because your savings grow tax-deferred until you withdraw funds.* Brookline Bank offers a range of IRA account types to meet your needs.

Click on the headings below to learn more about each IRA account type.

Traditional IRA

Contributions to a Traditional IRA are made with pre-tax dollars and are generally tax-deductible. Deductible contributions and earnings are taxed as ordinary income when you withdraw them. You may want to choose a Traditional IRA if you think you will be in a lower tax bracket at retirement.

Roth IRA

Contributions to a Roth IRA are made with after-tax dollars and therefore are not tax-deductible. Contributions and earnings are generally tax-free when you withdraw them. You may want to choose a Roth IRA if you think your tax bracket will be the same or higher at retirement.

Which is right for you? Try our Roth vs. Traditional IRA Calculator.

Rollover IRA

Rollover IRAs allow you to consolidate funds from past employer plans such as a 401(k) and maintain the tax-deferred status of the funds.


Simplified Employee Pension (SEP) IRAs are designed to meet the retirement needs of small business owners and the self-employed. SEP IRAs allow larger tax-deductible contributions than traditional IRAs.

Will Your Retirement Savings Meet Your Spending Needs?

Depending on the lifestyle you expect in retirement, your savings plan will vary. Use our Retirement Planning Calculator to view different savings and spending scenarios.

Visit us any Brookline Bank location or call us at 877-668-2265 for help deciding which IRA is right for you. IRAs have complicated tax provisions so you may want to talk to your tax advisor about your IRA selections.

*Consult your tax advisor regarding your eligibility for these tax advantages.