Issue link: https://nebusinessmedia.uberflip.com/i/1531703
W W W. M A I N E B I Z . B I Z 21 JA N UA R Y 2 7 , 2 0 2 5 W E A LT H M A N A G E M E N T / R E T I R E M E N T and they don't have to think about it again," says Shorey. "ey can go on the website and watch their fund grow. I do hope they'll think about the peace of mind of saving for the future, because whatever they do is better than not doing anything." e process as an employer is also simple, she continues. "It's just a few minutes tacked onto the payroll process," she says. "It's easy enough for us to manage that last deduction and transfer." For Shorey, ease of use is a key feature of any new program. Anytime an employer, especially a small busi- ness, hears of a new requirement — "ese are wonderful programs and they're all right-minded, but you wonder as a small businessperson how much bandwidth you'll have to do more. MERIT did a great job of explaining it." Shorey was planning to bring up the program again at the company's next HR meeting — and she thinks a couple of folks who were on the fence might come around. "I had three or four people who were on the fence, but ended up not partici- pating," she says. "I said, 'Why?' 'Well, I really can't afford it.' But I think at least two or three of them have come around to see that, if they decide to divert those funds, it's painless and they know they're doing something good for their future. at's what I hope to communicate." Before MERIT, Shorey would have loved to offer some kind of retirement savings plan. "But we don't have a lot of resources as a small business," she says. "is made it accessible for us to participate." Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.biz Forge your Legacy, Retire with Confidence 207-873-2200 129 Silver St, Waterville, ME www.goldenpondwealth.com Securities offered through LPL Financial, Member FINRA/SIPC P H O T O / T I M G R E E N WAY Dave Karkos works on a slipper at Quoddy Shoes in Lewiston. The 19 employees produce up to 10,000 pairs of shoes each year. Many employers understand the importance of starting retirement savings early and are glad to be able to do that for their employees. — Elizabeth Bordowitz MERIT F O C U S