Help your employees save, help your business grow

Eligible businesses can now register

Registration for the program is now open to all businesses. To register, you will need your Employer Identification Number (EIN) and Access Code.

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Help your business and employees thrive

Delaware EARNS is a new state-sponsored retirement savings program. This program will give businesses like yours an easy way to help employees save for the future, and it benefits you, too. What’s more, it’s voluntary for employees — they can stay automatically enrolled or opt out and re-enroll later.

Every Delaware employer with five or more employees will need to facilitate the program if they don’t already offer their own tax-qualified retirement plan.

You can have confidence in EARNS because it’s overseen by the Office of the State Treasurer, which has deep experience managing hundreds of millions of dollars for the benefit of the people of Delaware.

Here’s how EARNS benefits you as an employer:

  • It’s FREE to facilitate.

  • It’s easy to set up: No complex administration and minimal ongoing responsibilities.

  • It lets you focus on your business, with easy integration with your payroll process.

  • It’s a valuable benefit to attract and retain employees by giving them a simple and secure way to save through automatic payroll contributions into a Roth IRA.

  • You have no fiduciary responsibility, meaning you are not responsible for the investment decisions or outcomes of any employee that participates in the program.

  • You are not responsible for matching contributions. It is not permitted by the program.

Learn more

Many plans involve complex administration requirements, fiduciary liability, and high costs, all of which can keep employers like you from offering employees retirement savings plans. But EARNS is different. It offers some of the best features of popular employer plans and IRAs, but without the burdensome requirements, allowing employers to focus on facilitating the program — all with no cost to you.

This program is not meant to replace or compete with 401(k)s or other qualified retirement plans. Employers that offer a qualified retirement plan can certify exemption from the program.

EARNS can work for you

Retirement savings programs can help attract and retain employees and increase productivity.1

Reference

1. Andrew Glazer, “Why Offering Retirement Benefits Helps Attract And Retain Top Employees,” Forbes, 12 September, 2023. https://www.forbes.com/sites/forbesfinancecouncil/2022/08/24/why-offering-retirement-benefits-helps-attract-and-retain-top-employees/?sh=71de76373710