Employer 401(k) Advice · Maine
Weighing the State Program Against a Plan of Your Own
Maine runs a retirement savings program for private employers that do not offer a qualified plan, and its coverage rules have been changing. If you are a small employer, it is worth knowing where you stand and what your alternatives are.
We advise Maine employers on 401(k) plans: designing a new one, reviewing the one you have, and making sure the fiduciary work is documented.
What We Do
401(k) Plan Advice for Maine Employers
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Plan Design & Setup
Safe harbor, traditional, Roth and profit-sharing options, coordinated with your recordkeeper and plan administrator.
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Fiduciary Support
We help document how investments are selected and monitored, and how fees are reviewed.
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Fee Benchmarking
A side-by-side look at what your plan costs, with no charge and no obligation.
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Employee Education
Enrollment meetings, group sessions and one-on-one conversations for your team.
Local Considerations
What Maine Employers Often Ask About
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The Maine Retirement Savings Program
Maine's program is aimed at private employers without a qualified plan, and the employee threshold and penalties have been adjusted over time. Employers that offer a qualified plan are generally outside the mandate. Confirm your status with the program, since the rules have changed.
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What a 401(k) adds
State auto-IRA programs generally do not include an employer match, and IRA limits are lower than 401(k) limits. A company plan lets you offer matching or profit-sharing contributions and lets owners save more.
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Seasonal and part-time workforces
Maine employers in tourism, fishing, forestry, farming and construction often rely on seasonal or part-time staff. Federal rules extend 401(k) eligibility to long-term part-time employees, and plan design can account for turnover and seasonality.
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Federal credits for new plans
Eligible small employers may qualify for SECURE 2.0 tax credits for starting a plan, adding automatic enrollment and making employer contributions. Eligibility depends on IRS rules, so check with your tax advisor.
Free Guide · 7 pages
Starting a 401(k) Under SECURE 2.0
Plan types, 2026 contribution limits, the federal tax credits for small employers, the new automatic enrollment rules and a typical setup timeline.
Common Questions
Questions Maine Employers Ask
Employers that offer a qualified retirement plan are generally outside the state mandate. Because the program's rules have been changing, confirm your status with the program.
Usually. A company plan has costs the state program does not. The question is whether an employer match and higher limits are worth it for your company. We help you compare.
Often not. We can frequently serve as your plan's investment adviser alongside an independent third-party administrator without moving assets.
Our office is in Boston. We work with Maine employers by video and phone, and in person by arrangement.
Prefer to Talk It Through?
Request a Complimentary Plan Review
Send us your plan's most recent fee disclosure and we will review its costs, investments and structure, then explain what we find in plain terms. No cost and no obligation.
This page is general information about 401(k) plans for Maine employers. It is not individualized investment, tax or legal advice, and is not an offer to buy or sell any security. State retirement-program rules change; confirm current requirements with your state's program and your legal and tax advisors. Radius Wealth Management LLC provides individualized advice to residents of a state only where permitted. Our office is at 1 Marina Park Drive #1410, Boston, MA 02210.