Maine’s path to a stronger retirement future.
Our mission is to empower the financial future of Maine workers, employers, and taxpayers with an easy, low-cost, and trusted workplace retirement savings program.
There’s still time to register!
About MERIT
More than 170,000 Mainers do not have access to retirement savings through work. MERIT is expanding access to workplace retirement savings for the Mainers working without it.
MERIT The Maine Retirement Investment Trust was created by the Maine Legislature in An Act to Promote Individual Retirement Savings through a Public-Private Partnership in recognition of the benefits to both the State and residents of the State in establishing retirement savings accounts. The MERIT Board is established a workplace retirement savings program for employees who do not otherwise have access to a retirement savings plan through their employer. Employees are automatically enrolled in a Roth IRA Account. Once enrolled, the account is funded from an employee’s wages unless the employee opts out.
Do You Need to Register Your Company or Certify Your Exemption?
At a Glance
Open in January 2024.
An easy way for Employers to offer retirement savings for their employees.
An easy way for Employees to plan for their future.
Working Mainers can contribute to a Roth IRA directly from their paycheck.
The Law
In 2021, An Act to Promote Individual Retirement Savings through a Public-Private Partnership, was enacted to bring a workplace retirement savings opportunity to the 34% of Maine workers with no workplace retirement plan. The plan will help address Maine worker’s inadequate retirement savings and the resulting costs to the State.
2023 Amendment
PL. 2023, Chapter 167 was enacted on June 12, 2023 and will be effective 90 days after the end of the 2023 legislative session. The amendment extends the time for employers to register for the Program.
Learn More about MERIT
The Latest News
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More Than One Million Americans Now Enrolled in Auto-IRA Programs
Article and photos posted by AARP Maine on April 30, 2025. More Than One Million Americans Now Enrolled in Auto-IRA Programs, and Maine is among the leaders helping workers save for retirement. More than one million private sector workers nationwide have enrolled in state retirement savings programs, a major milestone in the effort to address…
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From Augusta: Helping all Maine workers retire with dignity and financial security
Article written by Maine Senator Donna Bailey and posted by Portland Press Herald, April 30, 2025. As the Senate chair of the Legislature’s Committee on Health Coverage, Insurance and Financial Affairs, I spend a lot of time in Augusta working to help Mainers save money today and in the future. In April, I proudly introduced…
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MERIT on Voice of Maine
REWIND 04 17 State Treasurer Joe Perry 1115 Treasurer Perry shares how Employers with five or more employees are required to register or certify an exemption and how easy MERIT is to get their employees signed up and saving for retirement.
