The Maine Retirement Investment Trust (MERIT) is a retirement savings program, created by the Maine Retirement Savings Board.
MERIT was created to assure that all Maine workers have access to a retirement savings plan at work.
MERIT is available for:
Maine workers whose employers do not offer a workplace retirement plan
Self-employed individuals
Others who want an easy way to save in a Roth Individual Retirement Account (IRA) they can take wherever their career leads
Great benefits to help you succeed
Employer benefits
No cost for employers
Getting started is fast and easy
Works seamlessly with your payroll process
Stay competitive by offering a great benefit to your employees
Requires very little time and administration
Saver benefits
Secure, simple way to save for retirement
Your account stays with you through career changes without complicated rollovers
Customizable contribution amounts to meet your needs
It’s voluntary — stay enrolled automatically or opt out and re-enroll later
Access to online tools and real people trained to answer your questions
Expanding access to retirement savings in Maine
More than 1 in 5 Americans over age 50 have no money saved for retirement.1 MERIT can help you save for a more financially secure future.
Reference
1. “New AARP Survey: 1 in 5 Americans Ages 50+ Have No Retirement Savings and Over Half Worry They Will Not Have Enough to Last in Retirement,” AARP, 24 April 2024. https://press.aarp.org/2024-4-24-New-AARP-Survey-1-in-5-Americans-Ages-50-Have-No-Retirement-Savings