Retirement Planning Part 2: Setting Up a Retirement Saving Plan For Your Employees

Under the Maine Retirement Saving Program, employers with 5 or more employees are mandated to provide their employees with a Qualified Retirement Plan or facilitate employee deferrals into a newly formed State of Maine Roth IRA account program.

The mandate will take effect in April 2024.

Join us in learning more about this new state-wide program including:

• What are employers' obligations and options?
• What tax implications are there for employers who opt to provide a match to employees’ contributions?

Our Retirement Planning Series will be presented by Ben Daigle and Jake Kenyon, Wealth Advisors from Old Port Advisors, a Portland-based financial and retirement planning firm. There will be Q&A opportunities so come with your questions.

This part of the series addresses specifically the new retirement savings mandate for businesses with employees.