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Treasury Proposals Receive Funding in Governor's Recommended Budget

Treasury Proposals Receive Funding in Governor's Recommended Budget
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State treasurer brings forth landmark retirement program for Delaware

More than 200,000 Delaware workers currently lack access to an employer-sponsored retirement program, meaning they have no effective way to save for the future. Bi-partisan legislation introduced in the Delaware ....

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Landmark program could stem Delaware retirement savings crisis

More than 200,000 Delaware workers currently lack access to an employer-sponsored retirement program, meaning they have no effective way to save for the future. Bipartisan legislation introduced in the Delaware House of Representatives creating the. ....

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Delaware Joins the State Auto-IRA Push

Legislation
The First State has now entered the push to provide its private sector workers who do not have access to an employer-sponsored retirement plan with access to a state-facilitated retirement plan.
The legislation (HB 205), which was spearheaded by State Treasurer Colleen Davis and introduced May 20 by State Representative Larry Lambert (D-Claymont) in the Delaware House of Representatives, would establish the Delaware Expanding Access for Retirement and Necessary Savings (EARNS) program.
In general, HB 205 would require private-sector businesses with five or more employees that have been in business in the state for at least six months in the preceding calendar year and do not currently offer employees access to a tax-favored retirement plan to participate in the automatic payroll deduction IRA program. Employees could opt out of participation. ....

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Delaware lawmakers propose private-sector auto-IRA progam

Delaware lawmakers propose private-sector auto-IRA progam
The Delaware state flag
A private-sector auto-IRA bill introduced in Delaware s House of Representatives proposes the establishment of a retirement-savings program for workers in the state who currently have no access to an employer-sponsored plan.
The bill, HB 205, establishes the Delaware Expanding Access for Retirement and Necessary Savings program, which would allow small businesses with five or more employees who currently do not have a retirement program to enroll in this state-sponsored retirement program.
Workers with participating employers would then be automatically enrolled in the program.
If the past year has taught us anything, it s that the future is unpredictable, said Colleen Davis, Delaware state treasurer, in a news release Thursday. I want to do everything I can to help Delawareans make retirement more secure without putting undue burden on employers. ....

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