Delaware EARNS Program
Delaware has launched a state-sponsored retirement savings program called Delaware EARNS. This program was created to give employees a convenient, portable and cost effective way to save through Roth IRAs.
Businesses who meet all of the following criteria are required to register and facilitate the EARNS program by October 15, 2024:
- Your business employs 5 or more W-2 workers (full or part-time).
- Your business does not currently offer a qualified, employer-sponsored retirement plan.
- Your business has been established for at least 6 months in the immediately preceding year.
- Your business is not a governmental entity.
Businesses who do not meet all of the above criteria are exempt. However, you will still need to register and certify your exemption by October 15, 2024.
For further information, please see the below links to our detailed article and to the official Delaware EARNS website.
Click here to view the article.
