Employers / Employees
Help employees build financial security with MERIT. All Maine businesses with five or more employees will be required to register with MERIT if they don’t already offer a qualified retirement savings plan. MERIT is an added benefit to offer employees and comes at no cost to Employers. Employers simply facilitate the program and maintain accurate employee records. MERIT will integrate with internal or external payroll processes. Registration is fast, easy and secure.
Invest in future financial security with MERIT. MERIT was created by the State of Maine to ensure that all Maine workers have a simple and convenient way to save for retirement through their paychecks. The program is voluntary for employees, but mandatory for employers to offer if they don’t already provide a qualified retirement plan. With MERIT it is simple to join and easy to start saving for retirement. Workers contribute through their paycheck to their own Roth Individual Retirement Account (IRA). The Account is portable and follows employees from job to job.