Retirement Services

It's never too early to start planning. The decisions you make now will greatly influence your life in the years to come. 

At Westfield Bank, we can help you find the retirement plan that's right for you. We offer Traditional IRAs, Roth IRAs, Simplified Employee Pension Plans (SEPs), and Coverdell Education Savings Accounts. Determining which plan is right for you depends on several factors, including your age and personal goals. 

To see how we can help you plan for a better tomorrow, call 413.568.1911 or stop by any of our convenient offices.


IMPORTANT: There have been significant changes to IRA Rules and Regulations in 2020 due to the Secure Act.

  • Age limit eliminated for Traditional IRA Contributions
  • RMD raised to 72
  • New exception to the 10% penalty for birth or adoption
  • IRA contributions with fellowship and stipend payments
  • The elimination of a “Stretch” IRA (with certain exceptions) for non-spouse beneficiaries of Inherited IRAs

Retirement Accounts

Traditional IRA

Traditional IRA

Looking for an independent retirement savings vehicle with immediate tax advantages, possible tax deductions and a high degree of flexibility?

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Roth IRA

Roth IRA

A Roth IRA lets you set aside after-tax income up to a specified amount each year, with tax-free account earnings and tax-free withdrawals after age 59 1/2 if certain IRS provisions are met.

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Simplified Employee Pension (SEP)

Simplified Employee Pension (SEP)

A Simplified Employee Pension (SEP) plan is an easy, low-cost retirement plan that allows employers to contribute to employees' Traditional IRAs. SEP plan contributions provide a tax deduction to the business owner, who can contribute up to 25% of net earnings in a plan year.

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Coverdell Education Savings Account

Coverdell Education Savings Account

When you're planning to finance a student's education, this account provides an additional way to help you reach your goal. The Coverdell ESA provides tax-deferred interest if certain IRS provisions are met.

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Retirement CDs

Retirement CDs

Retirement Certificates of Deposit are a safe and secure way to save. You'll earn a fixed interest rate over the course of the term. All CDs have a minimum balance requirement to open.

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Retirement Services Team

Judith St. Pierre Judith St. Pierre Vice President, Retirement Services 141 Elm Street Westfield, MA
Angelica Tougas Angelica Tougas Senior Retirement Services Specialist 70 Center Street Chicopee, MA