Individual Retirement Accounts - IRAs

What is an Individual Retirement Account (IRA)?

With so many options available to save for retirement, it is important to understand how the various plans work. This knowledge will help you to ensure that you are in the right plan to meet your financial needs and goals.

An Individual Retirement Account (IRA) is a retirement savings plan that allows assets to grow tax deferred. All US citizens with income over $3,000 are eligible to participate in an IRA account. Certain individuals who are not eligible for other retirement plans may receive an income tax deduction for their contribution.

Types of IRA Accounts include:

and Rollover IRA

Atlantic Financial IRA Accounts

If you do not have a current retirement plan or you are looking to have more options and would like to open a new Individual Retirement Account (IRA) we would be happy to assist you.

There is a large variety of investments that can fund IRA accounts. Atlantic Financial's IRA accounts have a wide selection of investment options including stocks, bonds, and over 18,000 mutual fund choices.

How to Open an Individual Retirement Account (IRA)

Phone: Call 1-800-559-2900 and one of our representatives will be happy to assist you.

On-Line: To open an IRA (403b, IRA Rollover, 401k Rollover, SEP, Roth, etc.) fill out and submit this

New Standard Account Application

By Mail: Visit Atlantic Financial's New Account area and Download an IRA Application (PDF.)

Fill out, Print, and sign them application and then mail it (along with a copy of your photo ID) to:

Atlantic Financial Inc.

167 Washington Street

Norwell, MA 02061

If you would like assistance rolling over an existing retirement plan, opening a new IRA account, or have any questions please call 1-800-559-2900, email us (please be sure to include your name and phone number in your email) or use this on-line form:

IRA Accounts

Individual Retirement Accounts (IRA)

If you do not have a current retirement plan or are looking to have more options and would like to open a new individual retirement plan (IRA) we would be happy to assist you.

Atlantic Financial's IRA accounts (Roth | SEP | Traditional) have the widest selection of investment
options including stocks, bonds and over 18,000 mutual fund choices.

How to Open a New IRA Account

Call 1-800-559-2900 and one of our representatives will be happy to assist you.

Go to Atlantic Financial's New Accounts page, and use our on-line New Standard Account Application or download an IRA Account Application (PDF), and then follow the instructions for submitting it.

If you would like assistance rolling over an existing retirement plan, opening a new IRA account or have any questions please call Atlantic Financial toll free at 800-559-2900, (please be sure to include your name and phone number in your email) or submit this form to contact Atlantic Financial.

Quick Retirement Facts

FACT: Financial security doesnt just happen, it takes planning, commitment, and yes, money. FACT: Less than half of Americans have put aside money specifically for retirement. You cant retire with security unless you really prepare for it. That means facing up to reality, and beginning to take action for tomorrow as well as today. FACT: In 1993, of those who had 401k plans available, one-third didnt participate. Putting away money for retirement is like giving yourself a raise. Its money that gives you freedom when you want it and deserve it. FACT: The average American spends 18 years in retirement. Today, half of Americans guess when determining their retirement needs. Dont be one of them. Find out more. Save now and beat the retirement clock. Source: Department of Labor. Visit www.dol.gov/ebsa/publications to read more about retirement planning and options. You can also visit the Social Security Administration website at www.ssa.gov for additional advice.

IRA Accounts

Individual Retirement Accounts (IRA)

If you do not have a current retirement plan or are looking to have more options and would like to open a new individual retirement plan (IRA) we would be happy to assist you.

Atlantic Financial's IRA accounts (Roth | SEP | Traditional | Educational) have the widest selection of investment options including stocks, bonds and over 18,000 mutual fund choices.

How to Open a New IRA Account

Call 1-800-559-2900 during business hours (9:00am-6:00pm EST) and one of our representatives will be happy to assist you.

Please go to Atlantic Financial's New Accounts page, and use our on-line New Standard Account Application or download an IRA Account Application (PDF), and then follow the instructions for submitting it.

If you would like assistance rolling over an existing retirement plan, opening a new IRA account or have any questions please call Atlantic Financial toll free at 800-559-2900, email Atlantic Financial (please be sure to include your name and phone number in your email) or submit this form to contact Atlantic Financial.

See Also 401k to IRA Rollovers
Keep retirement plan assets growing tax deferred Avoid penalties for early distributions from employer-sponsored retirement plans Penalty-free early distributions prior to age 59 for certain purposes, including: first-time home purchase expenses ($10,000 lifetime limit) qualified higher education expenses certain medical expenses in excess of 7.5% of
adjusted gross income
certain unemployment expenses death and disability Can subsequently roll over into new employers plan if permitted Expand investment options Can consolidate retirement accounts with ease for greater control Available to job changers who have assets in a qualified retirement plan Available to individuals who are retiring and have assets in a qualified retirement plan Available to participants in terminating qualified retirement plans

Key MFS
advantages

(Atlantic Financial proudly offers mutual funds from several leading fund companies including MFS, Atlantic Financial is not affiliated with MFS)

More than 60 mutual funds to choose from, including four risk/reward based asset allocation funds and five target-date based asset allocation funds Flexibility in the event that an IRA owner has not fully considered his or her beneficiary progression* Global asset management expertise of MFS Account and fund information access via the Internet and telephone Customer service representatives available from 8 a.m. to 8 p.m. ET, Monday through Friday *If an MFS IRA owner has not named a beneficiary at the time of his or her death, the MFS IRA Default Beneficiary Progression feature enables the IRA owners surviving spouse to become the beneficiary. If there is no surviving spouse, then any children of the IRA owner would be equal beneficiaries. If there is no surviving spouse or descendents, the IRA owners estate becomes the beneficiary of the account.

Contribution limits

Up to 100% of the distributions from the qualified plan May be opened as a direct rollover or distribution check may be payable to participant and then deposited into the Rollover IRA If distribution is payable to participant, no more than 60 days may elapse between the distribution and the investment into the Rollover IRA

How a Rollover works
Example: Kim is changing jobs. She has been contributing to her workplace retirement plan over the past 10 years and has accumulated $50,000. She has decided to roll her assets into an IRA. The chart demonstrates that over 30 years her assets grew tax deferred to $301,129 and provided a benefit of $202,408 after taxes. This example is based on lump-sum withdrawals, 2005 federal tax rate, and a 5% state tax rate. actual results will vary based on withdrawal method and tax rate at withdrawal.

Quick Retirement Facts

Source: Department of Labor. Visit www.labor.gov/ebsa/publications to read more about retirement planning and options. You can also visit the Social Security Administration website at www.ssa.gov for additional advice.