Delaware employers must register with EARNS program by Oct. 15

Delaware employers have until Wednesday, Oct. 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 EARNS with a clear goal: to provide Delaware workers with a simple and secure retirement savings program,” said Colleen C. Davis, state treasurer. “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. The program is completely voluntary for employees, who can opt out at any time. 

To avoid potential penalties and fines in 2026, employers who have not yet registered should do so at EARNSDelaware.com before Oct. 15. 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,” said Davis. “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 email 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.

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.