Retirement Program Hits 10,000 Enrollees

More than 10,000 private-sector workers have enrolled in Maine’s state-facilitated retirement savings program since it launched statewide a year ago. Combined, those workers have saved more than $8 million, according to state data.

The program, called the Maine Retirement Investment Trust, allows workers without access to a retirement savings plan through their jobs to open a Roth IRA and fund it via automatic payroll deductions.

AARP Maine supported the creation of MERIT. Alf Anderson, associate state director of outreach and advocacy, says AARP is pleased with the sign-up rate so far and hopes more workers will enroll as they learn about the program’s benefits. Learn more at meritsaves.org.