New Statewide Retirement Savings Requirement: What Nonprofits Need to Know
Zoom
Event Details
Does your nonprofit have five or more employees? Then you need to know about MERIT (Maine Retirement Investment Trust) - the new state requirement about retirement savings in the workplace.
Starting in 2024, organizations across the state with five or more employees will be required to offer a qualified retirement plan. The Maine Legislature created MERIT to help employers meet this new obligation without additional costs, contribution requirements, or the administrative burdens of providing their own program.
On January 18th, join MANP to learn more about the details and deadlines for employers under the Maine Retirement Savings Program legislation, including how to enroll in MERIT, or be exempted by offering your own retirement savings plan.
We'll be joined by Beth Bordowitz, executive director for Maine Retirement Investment Trust, and Nate Moody, retirement plan advisor for Lebel & Harriman, to learn about program and other workplace retirement plan options and what small employers must do to comply in 2024.
Accessibility
- Captioning: We will have automated captioning enabled.
- Visual Descriptions: Presenters will include visual descriptions of themselves.
- If you require additional accommodations at this event, please email us as soon as possible so we can ensure your needs are met.
For More Information:
Cost + Registration
- $0-$15 for MANP Members + Nonmembers
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You are welcome to register for this event at no cost! Revenue from our events supports the work we do on behalf of all nonprofits in Maine, and we welcome financial support from those who are able to provide it.
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Don't have a login yet? It's quick + easy! Find instructions here on how to create a login and link it to your organization or business. Note: You do not have to be a MANP member to have a login.
- Registrants will receive a confirmation e-mail as well as reminder emails that will be sent one day and one hour prior to the event.
- This virtual event will be hosted in Zoom Meeting and we ask participants mute themselves when joining. Questions will be addressed via chat.
- This webinar will be recorded and the recording will be available to all registered participants for 30 days after the event. Participants who are unable to attend will still have access to all materials.
About the Presenters
Beth Bordowitz is the Executive Director of the Maine Retirement Savings Board. Beth served as the CEO of the Finance Authority of Maine (FAME) from 2007 to 2014 after serving as General Counsel to FAME. While at FAME, Beth was instrumental in the development and implementation of numerous programs, including the State of Maine’s venture capital fund and the state’s College Savings Program, the NextGen College Investing Plan. She is a certified mediator on the Maine Courts family matters roster. Beth currently is a member of the Board of Directors of the Maine Health Access Foundation. She has held leadership roles on numerous nonprofit and governmental boards of directors including the Portland Public Library, Alfond Scholarship Foundation, Maine Development Foundation, Portland Zoning Board of Appeals, Family Crisis Shelter. Beth earned a Bachelor's Degree from Rutgers College, a Master's Degree in Public Policy from the Eagleton Institute of Politics of Rutgers University and a Juris Doctor from Rutgers School of Law-Camden.
Nate Moody’s primary focus is advising companies on retirement and executive benefits programs including 401(k)/403(b) plans, ESOPs/KSOPs, and nonqualified deferred compensation plans. Nate is passionate about financial wellness and finding innovative employer solutions to address the ever-changing obstacles facing individuals preparing for retirement.
Nate serves as Vice President of the Maine Employee Benefits Council and on the Board of Trustees of the Healthcare Purchaser Alliance of Maine. Nate was named a 2022 Mainebiz 40 Under 40 honoree, and a Top U.S. Retirement Advisor under 40 each of the past three years by the National Association of Plan Advisors (NAPA).
In his free time, you can catch Nate playing basketball or golf, boating or snowmobiling, and always enjoying Maine’s great craft beer.