08/31/2026
Important Information for Maine's businesses. Please read and respond today if necessary.
Beginning in August, Maine Retirement Investment Trust (MERIT) will begin enforcing Maine's retirement savings law for employers that are required to comply but have not yet registered or certified an exemption.
Which employers are required to comply?
Maine law requires employers to register with MERIT if they:
* Have five or more employees
* Have been in business for two years
* Do not already offer a qualified employer-sponsored retirement plan
Employers that already offer a qualified retirement plan must certify their exemption.
What does enforcement look like?
Employers who do not register or certify an exemption will be assessed the following penalties:
• Businesses that fail to comply in their first year may be assessed a penalty of $20 per covered employee.
• Businesses that fail to comply for two years may be assessed a penalty of $50 per covered employee.
• Businesses that fail to comply for longer than two years may be assessed a penalty $100 per covered employee each year that they are not in compliance.
MERIT's goal is to help employers avoid these penalties by registering or certifying their exemption.
We encourage you to:
• Know that enforcement is beginning.
• Register with MERIT or certify your exemption as soon as possible.
• Reach out to our team if you have questions—we're happy to help.
If you have questions or would like informational materials, please don't hesitate to contact us.
Sincerely,
The MERIT Team
Beth Bordowitz, Executive Director
Ariel Carron, Program & Communications Manager
207-888-4706