House Bill 205, DE EARNS was signed into law by Governor John Carney on August 18, 2022. AARP Delaware fully supports this new law which gives Delawareans a more secure financial future. The AARP Delaware State Office joined State Treasurer Colleen Davis and bill sponsors Rep. Larry Lambert and Sen. NIcole Poore when Governor John Carney signed the bill into law at the Mejah book store in Claymont.
Today, a secure future is out of reach for hundreds of thousands of Delaware residents, especially those who work for themselves or small businesses. This new law will offer all workers in Delaware the opportunity to save for the future through their paycheck with automatic payroll deduction. Employees can opt-out at any time.
“If you don’t see the money, you won’t spend it,” said AARP Delaware State President George Meldrum. ”DE EARNS allows Delaware private-sector workers to easily save for the future to take care of themselves.”
Giving employees a simple way to save for retirement will mean fewer Delaware residents need to rely on public assistance later in life, saving taxpayer dollars. In fact, Delaware could save taxpayers as much as $18.2 million.
George Meldrum also noted that DE EARNS will help businesses, especially small businesses, recruit and retain good talent.
Learn more about saving for the future