Bloomberg Law
Aug. 19, 2022, 12:35 PM

Law Gives Delaware Workers Automatic Retirement Plan Access

Austin R. Ramsey
Austin R. Ramsey

Delaware is the latest US state to implement an automatic workplace retirement savings initiative designed to provide almost all private-sector employees with nest eggs to build.

Gov. John Carney signed the Delaware EARNS Act into law Thursday. It requires all businesses with five or more employees to enroll those workers in state-sponsored individual retirement accounts. The law takes effect immediately, but it’s still up to state regulators to set enforcement dates.

States have been taking the lead on guaranteeing workers access to a workplace retirement plan in the absence of federal legislation. More than half of Delaware employers don’t ...

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