The MERIT Plan

MERIT stands for Multiple Employer Retirement Income Plan. This is a way to provide retirement savings to lower-income individuals. Initially the project has focused on providing these benefits to largely female and largely part-time workers, such as those in daycare and preschool centers, or in residential real estate sales. The concept could be extended to other small entities as well.

The MERIT program has numerous advantages:

• It provides an income that lasts for life.
• It is designed to lower costs to levels competitive with fees charged to wealthier individuals, yet allow the investment of small sums of money
• It is designed to be so simple that individuals can participate without large barriers in understanding financial concepts.
• It is administered by fiduciaries who are experts in employee benefits

The MERIT program has attracted considerable interest and is currently a project backed both by the Women's Institute of a Secure Retirement, Massachusetts Mutual Insurance Company and others.

For information email us a merit@woykeco.com