Get answers to frequently asked questions

MERIT is a retirement savings program created for Maine's nearly 940,000 workers without access to employer-sponsored retirement savings plans. Here are answers to many of the common things we’ve been asked. If you have questions beyond these, we’re here to help.

Can the State use money from this program to pay for other programs?: No. Employees’ contributions go directly to the MERIT accounts in their names. The State has no access to these contributions, can’t use the money for anything else, and there is no connection to other retirement plans offered by the State.
Is there a minimum age to be eligible to participate in MERIT?: Yes, your employees must be at least 18 years of age to be enrolled in the program.
Does MERIT secure funds remitted to the employee accounts?: MERIT has processes in place to protect the security of employee contributions to their accounts. Our program administrator and their affiliates have dedicated security and compliance teams to implement encryption, strict internal protocols and training, and annual independent security audits. And they implement industry-standard account authentication and password protection procedures.
Are there measures to keep my account safe from cyber threats?: MERIT has processes in place to protect the security of employee accounts and information. Our program administrator utilizes reasonable security technologies to protect sensitive information in accordance with industry and regulatory standards, which may include encryption, two-factor authentication, and automatic logout after a specified period of inactivity.
As an employer participating in MERIT, am I allowed to match my employees’ contributions?: No. Employer contributions are not permitted in the MERIT Program.
Can I have a designated employee or payroll services provider complete the registration and enrollment process?: You can even invite a payroll representative to help you facilitate this process. Your payroll representative can be an admin, a teammate, or even your bookkeeper or payroll administrator. Simply add your payroll representatives as a teammate in your MERIT account to allow them to manage your employee list and process payroll if they do not require an integration.
The employer portal seamlessly integrates with many leading payroll providers. If you don’t currently use an external payroll provider, or if they’re not interested in an integration, the process to manually upload payroll contributions is quick and simple.
What if my payroll company won't help me administer MERIT?: You can still offer MERIT to your employees on your own with no complex administration — easily making it a part of your own payroll process.
What if my payroll provider is stating they will charge a fee for remitting contributions with MERIT?: Whether you use a payroll provider or not, MERIT does not charge a fee to remit contributions. If your payroll provider will charge you a fee for helping you facilitate the program, you can easily administer it on your own.
What do employers need to facilitate the State's program?: To register, you just need your EIN and the Access Code we provide to you via email or letter. After that, you’ll provide your preferred contact information, a list of your employees, and your payroll information. And 30 days later, you’ll need to update your participating employees’ contribution rates within your payroll. From that point on, you’ll just need to keep your employees’ payroll contributions and staff list up to date.
Where can I change my password or set up multi-factor authentication?: Once you log in, select “Security Center” from the dropdown menu next to your profile icon in the upper right corner of the screen. You can also go to your profile and select the “Open Security Center” button next to Login settings. From here, you can make any changes to your account that have to do with your login credentials.