Help your employees save, help your business grow

MERIT has officially launched

Registration for the program is now open. To register and get your employees set up to begin saving, you will need your Employer Identification Number (EIN) and Access Code.

Look up your Access Code

Help your business and employees thrive

The Maine Retirement Investment Trust (MERIT) is Maine’s new state-administered retirement savings program. This program will give businesses like yours an easy way to help employees save for the future, and it benefits you, too. What’s more, it’s voluntary for employees — they can stay automatically enrolled or opt out and re-enroll later.

Every Maine employer with 5 or more employees will need to facilitate the program if they don’t already offer their own qualified retirement savings plan.

Already offer a retirement plan?

MERIT was created for employers that don’t currently offer a qualified retirement savings plan for their employees. If you already offer one, you can simply certify your exemption here.

Certify your exemption

Program benefits

Here’s how MERIT benefits you as an employer:

  • It’s FREE to facilitate.

  • It’s easy to set up: No complex administration and minimal ongoing responsibilities.

  • It lets you focus on your business, with easy integration with your payroll process.

  • It’s a valuable benefit to attract and retain employees by giving them a simple and secure way to save through automatic payroll contributions into a Roth IRA.

  • You have no fiduciary responsibility, meaning you are not responsible for the investment decisions or outcomes of any employee that participates in the program.

  • You are not responsible for matching contributions. It is not permitted by the program.

Learn more about program benefits

How the MERIT program is different from plans like a 401(k) or an IRA

Many plans involve complex administration requirements, fiduciary liability, and high costs, all of which can keep employers like you from offering employees retirement savings plans. But MERIT is different. It offers some of the best features of popular employer plans and IRAs, but without the burdensome requirements, allowing employers to focus on facilitating the program — all with no cost to you.

This program is not meant to replace or compete with 401(k)s or other qualified retirement plans. Employers that offer a qualified retirement plan can certify exemption from the program.

MERIT can work for you

Retirement savings programs can help attract and retain employees and increase productivity.1


1. Andrew Glazer, “Why Offering Retirement Benefits Helps Attract And Retain Top Employees,” Forbes, 12 September, 2023.