Delaware employers have until Wednesday, October 15, to ensure compliance with state law

Delaware employers have until Wednesday, October 15, to register with — or certify exemption from — Delaware EARNS, the state’s small business retirement savings program. Through EARNS, thousands of workers now have access to a simple way to save, and employers are required by state law to take action by the deadline.

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), must facilitate the program, which was created to help build long-term financial security for the state’s workforce.

“We launched Delaware EARN 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.”

Delaware EARNS was designed as a business-friendly way to expand access to retirement savings. It’s free for employers, and it’s easy to set up and manage, with no fiduciary responsibilities or obligation to match contributions. EARNS gives employees a straightforward, secure way to save for retirement, and they maintain full control over their accounts and contributions.

Employers who have not yet registered should do so at EARNSDelaware.com before Wednesday, Oct. 15, to avoid potential penalties and fines in 2026. Those needing to certify for exemption should visit EARNSDelaware.com/exempt.

“We’re extremely grateful to those employers who have fully enrolled in Delaware EARNS,” Treasurer Davis said. “They’ve provided access to a life-changing tool that will help their employees put their futures first.”

Employers can reach out to the Delaware EARNS employer assistance hotline at 855-934-3701 or employerservices@earnsdelaware.com. They can also explore the resources available for employers and employees online — including a checklist for registration, FAQs, an educational video, and more.

About Delaware EARNS

Delaware EARNS is a retirement savings program sponsored by the Office of the State Treasurer and governed by the EARNS Program Board. Vestwell State Savings, LLC, is the program administrator. Before 2024, nearly 150,000 workers had no option to save for retirement at work. EARNS was created to help bridge Delaware’s retirement savings gap. Participants who use EARNS own and have control over their Roth IRA, as provided in the program offering. Employers who have five or more W-2 employees and do not offer a qualified retirement plan — such as a 401(k) — are required to facilitate EARNS. It is completely voluntary for employees, who can opt out at any time. For more information, visit EARNSDelaware.com.

About the Office of the State Treasurer

The Office of the State Treasurer serves Delawareans by executing secure transactions, managing tax dollars responsibly, and expanding financial empowerment opportunities across the state’s diverse communities. Since taking office in 2019, Treasurer Colleen Davis has championed innovative policies and solutions to make prosperity and economic opportunity more accessible for every Delawarean. For more information, visit treasurer.delaware.gov.

HB 208 will prevent fraud and streamline state financial operations

Treasurer Colleen Davis applauded Delaware’s General Assembly and Gov. Matt Meyer on Tuesday for the unanimous passage and signing of House Bill 208, a measure that promises to make state transactions faster, safer, and more cost-effective. The new law will require payments issued by state agencies – including departments, commissions, and boards – to be made electronically, modernizing the state’s transaction processes and reducing reliance on paper checks.

The bill, sponsored by Rep. Josue Ortega (D-Wilmington) in the House and Sen. Trey Paradee (D-Dover) in the Senate, was signed by Gov. Meyer on Monday, July 14. It mandates the use of Automated Clearing House (ACH), Single Use Account (SUA), or State Procurement Card (PCARD) payments for vendors providing goods and services to the state. The legislation includes exceptions for single payment vouchers, one-time suppliers, forced payouts conducted at year end by the Division of Accounting, and legal settlements.

“This may seem like a small bill, but it’s a win for Delaware on multiple levels,” Treasurer Davis said. “It thwarts the potential for check fraud, saves money for the state, streamlines my office’s operations, and makes sure our vendors get paid promptly and efficiently. I’m grateful to our lawmakers on both sides of the aisle for recognizing the value our state stands to gain from modernizing this process.”

The Office of the State Treasurer facilitates $12 billion of transactions on behalf of state agencies every year. That process has traditionally included issuing thousands of paper checks, which carry the risk of being lost, intercepted, or otherwise mishandled – slowing vendor payments while diverting state resources to combating fraud attempts.

“I’m proud that we got this legislation passed with bipartisan support,” Rep. Ortega said. “This change to the Delaware Code will not only mitigate fraud when it comes to payment interception, but also save the state money by cutting the cost of check printing.”

With the bill’s signing, Delaware has become the first state to mandate electronic payments for all state vendors, regardless of contract size. The federal government has implemented a similar policy planned to take effect Sept. 30, 2025.

“HB 208 was a common-sense bill,” Sen. Paradee said. “Our state agencies made it clear to us in this process that they saw a real need to create a more secure vendor payment environment in Delaware. Whenever we see an opportunity to save money for the state while streamlining the way it operates, we’re going to seize that opportunity.”

For additional information about the Office of the State Treasurer’s transaction processes, visit treasurer.delaware.gov.

DOVER – Today, Delaware’s elected leaders released a joint statement on the political violence in Minnesota:

“We are all horrified by the shooting of Minnesota House Speaker Emerita Melissa Hortman, Sen. John Hoffman, and their spouses in what appears to have been a despicable and politically motivated attack. We are all praying today for the victims of these attacks, for all of Minnesota, and for our democracy.

“Political violence has no place in America. It is not just a threat to the public servants who are targeted—it is an attack on free speech itself and an act of intimidation against the public. Each of us—irrespective of good faith differences in party, ideology, or policy—stands unequivocally for nonviolence, for free speech, and for the unalienable rights of those with whom we disagree.

“Our nation has spent 249 years building a community of peace, of law, and of freedom; we all must stand together to defend that inheritance.”

Sen. Chris Coons
Sen. Lisa Blunt Rochester
Rep. Sarah McBride
Gov. Matt Meyer
Lt. Governor Kyle Evans Gay
Attorney General Kathy Jennings
State Treasurer Colleen Davis
State Auditor Lydia York
Commissioner Trinidad Navarro
President Pro Tempore David Sokola
Sen. Majority Leader Bryan Townsend
Sen. Majority Whip Elizabeth Lockman
Sen. Minority Leader Gerald Hocker
Sen. Minority Whip Brian Pettyjohn
House Speaker Melissa Minor-Brown
House Maj. Leader Kerri Evelyn Harris
House Maj. Whip Ed Osienski
House Minority Leader Tim Dukes
House Minority Whip Jeff Spiegelman

Longtime member brings crucial healthcare and finance experience to new role

Delaware State Treasurer Colleen Davis was elected Vice Chair of the State Employee Benefits Committee (SEBC) at its most recent meeting Friday, Feb. 21 – ushering in a new era of leadership for a crucial committee that oversees benefits for all Delaware employees and retirees.

Treasurer Davis has served on the SEBC since 2019. In her new role as Vice Chair, she will be able to make an even more substantial impact by leveraging her unique background in both medicine and finance to help the committee make decisions that serve the best interests of all state employees and retirees.

“I’m grateful to the State Employee Benefits Committee for entrusting me with the vital position of Vice Chair,” Treasurer Davis said. “Our state employees deserve to receive the highest standard of care at a cost they can afford. The decisions this board makes are serious and complex, and they affect the lives and livelihoods of more than a hundred thousand Delawareans. Meeting our people’s needs requires both compassion and innovative thinking – and I look forward to bringing my experience in medicine and health finance to this leadership role.”

The SEBC controls and manages all employee benefits for the State of Delaware, including health, prescription, dental, vision and other options. The state’s Group Health Insurance Plan provides coverage to some 135,263 members – a figure that includes employees, retirees, participating groups, and all spouses and dependents. The committee is chaired by the Director of the Office of Management and Budget and includes the Treasurer as well as the Lieutenant Governor, Insurance Commissioner, Chief Justice of the Supreme Court, Controller General, Secretary of the Department of Human Resources, Secretary of Health and Social Services, two union leaders, and two eligible Delaware pensioners.

Program for small business employees reaches milestone in less than seven months

Delaware State Treasurer Colleen Davis announced Monday that Delaware EARNS – a state-sponsored retirement savings program for workers whose employers don’t offer a workplace retirement plan – has rocketed past $1 million in total assets in just seven months since its inception in July 2024.

“Saving for retirement has always been a challenge for workers whose employers don’t offer an IRA or 401(k), and we’re proud to have more Delawareans signing up for EARNS and funding their accounts every day,” said Treasurer Davis. “It’s exciting to see monthly contributions rising significantly as more people settle into the rhythm of saving, and I’m grateful to the EARNS team, our partners at Vestwell State Savings, and the employers who have registered for helping us have such a successful launch.”

As of Feb. 1, EARNS savers had accumulated nearly $1.4 million across 4,590 funded Roth IRA accounts and 1,596 registered employers across the state. As more employers and employees have onboarded to the program, its growth has accelerated, with total assets having nearly tripled since Dec. 1.

“This initiative has been a dream come true,” said LaVante’ Dorsey, owner of LaVante’ N. Dorsey & Associates, which offers mental health services. “As a small business owner, I always wanted to offer retirement savings for my employees, but I couldn’t afford to do it before. Now I’m enrolled in EARNS along with three of my employees, and it’s a stress reliever for all of us to know that money is being set aside.”

EARNS and its staff have already received plaudits from retirement experts, as Program Director Ted Griffith was recognized in January with a 2025 Best of the State Spotlight Award by Georgetown University’s Center for Retirement Initiatives.

“Our early success is a reflection of the great teamwork in our office, starting with the leadership of Treasurer Davis,” said Griffith, who has led EARNS since April 2023. “Looking ahead, we’re excited about further expanding the reach of Delaware EARNS. We anticipate this strong growth to continue, and we’re projecting the program to reach 10,000 savers and $10 million in assets before the end of this year.”

Employers who have not yet enrolled in EARNS can still do so at EARNSDelaware.com – a fast, easy process with no cost to the employer that lets their workers make automatic payroll contributions to a Roth IRA. While the program is designed to benefit employees, Delaware businesses gain from it as well by offering a benefit that helps attract and retain high-quality workers. Private-sector Delaware employers are required by state law to facilitate Delaware EARNS if they have five or more W-2 employees and do not offer a retirement plan.

For more information, visit EARNSDelaware.com or email EARNS@delaware.gov.