• Can I opt out of automatic contribution increases?
• Why does the program include an auto escalation of contributions?
• What is auto escalation?
• What is the default contribution rate?
• Is my contribution pre-tax or post-tax?
• If I have another IRA, in addition to the State's program, does the contribution limit apply to each separately or to the combined amount?
• How will I know when my account is close to the annual IRA contribution limit?
• How are my contributions made?
• Can I roll over another plan’s money into my MERIT account?
• Can employers match employee contributions?
• Can I have a MERIT account plus another retirement savings plan?
• Can I contribute a set dollar amount per paycheck instead of a percentage?
• Where do my contributions go?
• Who is responsible for choosing the available investment options?
• What if I don’t select investments for my account?
• What about market volatility?
• Are my investments guaranteed to earn?
• Could I lose my money?
• Is investing in MERIT the same as putting money in a bank?
• Could joining MERIT impact my eligibility for federal programs like SNAP or TANF?
• Could joining MERIT impact my eligibility for college financial aid?
• If I do not have earned income, can I still join MERIT?
• Is there a minimum age to participate in the program?
• Can the State use money from this program to fund other programs?
• Will services be available in other languages?
• What is a qualified, employer-sponsored retirement plan?
• Does this program replace 401(k)s?
• Do employers have to facilitate MERIT?
• Why isn’t there a national program like this?
• Do other states have programs like MERIT?