Many Delaware employers have until Wednesday, October 15, to register with — or certify exemption from — Delaware EARNS, the state’s small business retirement savings program
Businesses and nonprofits with five or more W-2 employees in Delaware that do not offer a qualified retirement plan, such as a 401(k), are required to offfer in the program, but do not have to make employer contributions.
“We launched Delaware EARNS with a clear goal: to provide Delaware workers with a simple and secure retirement savings program,” said State Treasurer Colleen C. Davis. “Before EARNS, many Delaware residents weren’t saving for the future, largely because they weren’t offered a way to do so through their employer. We’re thrilled to see such positive momentum and adoption of the program thus far.”
Since July 1, 2024, more than 7,500 Delaware small business workers have started saving for their retirement through Delaware EARNS. Collectively, they have saved more than $6 million, with an average of nearly $900 per account.
“EARNS has been such an easy way to add value for our staff,” said Linda Clark, president and founder of Great New Beginnings Early Childhood Learning Center. “Already, more than 50 of our employees are enrolled and saving. In a competitive job market, being able to offer a retirement benefit at no cost to the business really helps us stand out.”
The program is free for employers, and is easy to set up and manage, with no fiduciary responsibilities or obligation to match contributions. Employees retain full control of their contributions.
Employers who have not yet registered can go to EARNSDelaware.com to avoid potential penalties and fines in 2026. Those needing to certify for exemption should visit EARNSDelaware.com/exempt.
Employers can contact the Delaware EARNS employer assistance hotline at 855-934-3701 or employerservices@earnsdelaware.com. There are also resources available for employers and employees online —including a checklist for registration, FAQs, an educational video, and other information.
Many employers have supported Delaware EARNS but note that it adds another regulatory and paperwork hurdle. The Delaware Restaurant Association opposed the program.
AARP, which has sounded the alarm on the lack of retirement savings among Delawareans strongly supported Delaware Earns
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