MERIT Deadlines: No Penalties, No Problem - Understanding Maine's Mandatory Retirement Law

Join Maine Retirement Investment Trust (MERIT) for an important webinar brought to you by Maine SBDC and led by Beth Bordowitz, Executive Director of MERIT.

MERIT is a state-sponsored retirement savings program designed to ensure every Maine worker has the opportunity to build a secure financial future. Launched in 2024, MERIT is working to ensure that all Mainers have access to retirement at work by providing small businesses with a program to provide retirement benefits to their employees at no cost to the employers. More information can be found at: https://meritsaves.com

Employers who had five or more employees in 2023 were required must complete registration with MERIT by June 30, 2024. It is not too late to avoid penalties. Employers that reached five employees during 2024 need to register with MERIT by June 30, 2025.

During the webinar, you will learn:

• About the law that created MERIT

• What MERIT means for your business

• What MERIT means for your employees

• Which businesses are eligible for MERIT

• How to register with MERIT

• How MERIT will be enforced

We hope you will be able to join us!

Funded in part through a cooperative agreement with the U.S. SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact mainesbdc@maine.edu