Delaware EARNS Launches Pilot Program Ahead of Official Launch
Delaware EARNS is a retirement savings program for private-sector workers who don’t have access to a workplace plan through their jobs. Beginning on July 1, 2024, employers with 5 or more Delaware employees (full or part-time) are required to facilitate EARNS if they do not offer a qualified retirement plan, such as a 401(k).
In preparation of the official program launch, nearly a dozen private-sector employers will participate in a pilot of EARNS during the month of May to help ensure systems are fully ready.
“The start of the employer pilot is a true milestone,” Treasurer Colleen C. Davis said. “It’s thrilling to see a goal we have been working toward for years become a reality. We have nearly 150,000 private-sector workers in our state with no access to retirement savings through their employers. We now have a real opportunity to change that with the EARNS program.”
Delaware employers that want to get a head start on offering access to a competitive retirement benefit can register starting as early as July 1 at earnsdelaware.com. For employers, there is no cost for facilitating the EARNS program and no plan-sponsor liability.
For more information about Delaware EARNS, visit earnsdelaware.com.
Employers participating in the pilot:
- Down Syndrome Association of Delaware
- Great New Beginnings
- Junebug’s Little Rubies
- Just In Time Learning Academy
- LaVante’ N. Dorsey & Associates
- Leading Youth Through Empowerment (LYTE)
- Limestone Therapeutic Massage Associates
- My Sister’s Fault
- Mike & Mel’s Family Restaurant
- Pathways to Success
- Sweet Lucy’s Ice Cream & Treats