About the Board
The Maine Retirement Savings Board was established to implement a public-private retirement savings program for Maine employees who do not have access to a retirement savings plan through their employer. The Board meets monthly to oversee the Program, including the Program Administrator and the Program’s investments. The Board develops the rules and policies that guide MERIT. Board meetings are open to the public.
The Maine State Treasurer serves as a voting member of the Board. Other Board Members are appointed by the Governor for four year terms and confirmed by the Senate. Members must possess various skills and knowledge or represent the interests of certain groups, such as retirees, employers and employees.
The Board employs an Executive Director who is responsible for the day to day administration of MERIT, under the direction of the Board, including implementing the Program in accordance with the statute, guiding the Board in the development of rules and policies, and communicating with stakeholders about the Program.