News & Events
Upcoming Board Meetings
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Seasonal Businesses
All Maine employers that have been in business for two years and have five or more covered employees – employees who are 18 or older and have a social security number – are required to register with MERIT. Businesses are reviewed for eligibility annually based on the past year. So if you had four employees…
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Employer Registration
What is MERIT? MERIT is a new retirement savings program governed by the Maine Retirement Savings Board. Maine businesses and organizations with 5 or more employees who have been operational for two years that do not offer a qualified retirement plan must register with the program before the deadline to avoid penalties. What are the…
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Disclosures
MERIT is governed by the Maine Retirement Savings Board (“MRSB”), an instrumentality of the State of Maine. Vestwell State Savings, LLC (“Vestwell”), dba Sumday Administration (“Sumday”), is the program administrator. Vestwell and The Bank of New York Mellon are responsible for day-to-day program operations. Participants who use MERIT beneficially own and have control over their…
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Request a Presentation
Are you part of a group that needs to know more about MERIT? We are ready to answer all of their questions. Use the form below to let us know about your group and a good time for the presentation. Presentations can be in person or virtual. Questions and comments will be welcome. Request a…
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Board Meetings
The Maine Retirement Savings Board meets the 3rd Wednesday every other month on the 3rd Floor of the Cross Office Building, 111 Sewall Street, Augusta, Maine. The public is welcome to attend MERIT Board Meetings in person or virtually by using the following link: Virtual Meeting Information Join on your computer, mobile app or room…
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Privacy Policy
Terms of Use The material contained at this site is, unless otherwise noted, copyright of the Maine Retirement Savings Board doing business as MERIT (the “MRSB”). Nevertheless, so long as not indicated to the contrary, the information may be used and freely distributed provided it is not substantively modified, is used for non-commercial, educational or…
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