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Delaware EARNS officially opens for enrollment

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Delaware EARNS officially opens for enrollment


Delaware EARNS, the state retirement fund program, is projected to have 3,900 employers and almost 39,000 employees enrolled. | PHOTO COURTESY OF ADOBE STOCK

WILMINGTON Delaware EARNS, the state-sponsored retirement plan, officially opened for enrollment on July 1 with hopes of bridging the state’s retirement savings gap.

Two years after legislation passed to establish the Delaware Expanding Access for Retirement and Necessary Saving program, or DE EARNS, employers with five or more employees —regardless of full-time or part-time status — now have to sign up and provide a retirement plan option.

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Administered by New York based Vestwell State Savings, Delaware EARNS is structured as an automatic payroll deduction which is put into an Roth individual retirement account. Based on federal rules, there are annual contribution limits for how much an employee can put into an IRA. Those under 50 years of age can save up to $7,000 in their IRA while those over the age of 50 can save up to $8,000. Lower limits may be applied depending on various tax situations.

The program is funded by employees and facilitated by employers; employers can opt out if they offer their own plan like a 401(K). The deadline for employers to opt out or enroll is Oct. 15.

For the past year, the Delaware State Treasurer’s Office has been on an information campaign throughout the state and spent time meeting with several local chambers of commerce on how the program works. Colleen Davis, the state treasurer, once estimated that there are between 150,000 to 200,000 Delawareans who have not been offered a retirement plan through their employer.

Most of those employees were considered in the low and low-to-moderate income bracket. The National Compensation and Benefits Survey also found that 54% of Delaware employers do not offer retirement plans.

“The reason why the treasurer’s office got involved in this issue is that we’re facing a retirement savings crisis,” Delaware EARNS Program Director Ted Griffith said. “We have many workers that aren’t saving anything, and it’s not a problem unique to Delaware. But we can help do something about it by giving them access to start that fund through work. There’s research that shows that if someone does have a retirement plan that can contribute to payroll, they’re 15 times more likely to start one.”

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Griffith also said it’s a societal issue as well as a workplace issue. With Delaware’s senior population continuing to rise, the Pew Charitable Trust and Econsult Solutions Inc. found that the state was on track to spend an additional $55 million per year over the next 20 years on programs like Medicaid due to insufficient savings. 

“Not only can we help create a pathway to help people be more self-sufficient and financially empowered, we’re reducing the burden on the state over time,” he said.

Delaware is one of a few that has mandated retirement plans at various stages, either active or in the process of development. Colorado was among the first, and surrounding states like Virginia and New Jersey have also opened enrollment for similar plans, RetirePath Virginia and RetireReady NJ, respectively.

The First State has also joined a consortium of states, led by Colorado, to maximize Delaware EARNS’ potential to pool resources when it comes time to set up these programs to work. That can translate to savings for the account holders.

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While it’s still early, Delaware EARNS has about 12 employers already enrolled as part of a pilot program. Based on projections done by the Pew Charitable Trust, it’s anticipated that 3,900 employers and almost 39,000 employees will be enrolled in the program.

“We’re excited for the future, because not only will this help the savings gap, it’ll help with the wealth gap,” Griffith said. “It’s going to give Delawareans who may not have a chance to invest a way to do that.”

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Delaware

U.S. House GOP bans Delaware’s U.S. Rep. from same-sex bathrooms

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U.S. House GOP bans Delaware’s U.S. Rep. from same-sex bathrooms


From Philly and the Pa. suburbs to South Jersey and Delaware, what would you like WHYY News to cover? Let us know!

Rep. Nancy Mace, R-South Carolina, has introduced legislation that would bar transgender women from using women’s restrooms and other facilities on federal property.

It comes just a few days after she filed a resolution intended to institute a bathroom ban in parts of the U.S. Capitol complex that she said was targeted at Delaware Congresswoman-elect Sarah McBride, a Democrat, who First State voters elected to serve as the first openly transgender person in Congress just two weeks ago.

Mace said to reporters Monday that McBride, who she misgendered during her comments, didn’t “belong in women’s spaces, bathrooms and locker rooms.”

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While not specifically mentioning Mace’s bills, House Speaker Mike Johnson issued a statement Wednesday dictating that House policy in January would ban transgender women from using facilities — like bathrooms and locker rooms — that do not correspond with the sex they were assigned at birth.

“All single-sex facilities in the Capitol and House Office Buildings — such as restrooms, changing rooms, and locker rooms — are reserved for individuals of that biological sex,” Johnson said in a statement. It was not clear how the policy would be enforced.

“Each Member office has its own private restroom, and unisex restrooms are available throughout the Capitol,” he added.

Mace’s resolution, which she said she wanted to be included in the rules package for the next Congress, requires the House sergeant at arms to enforce the ban.



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Delaware Co. woman charged with DUI after crashing into Pennsylvania state police vehicle

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Delaware Co. woman charged with DUI after crashing into Pennsylvania state police vehicle


Wednesday, November 20, 2024 10:33PM

A Drexel Hill woman has been charged with DUI after investigators say she crashed into a Pennsylvania State Police vehicle on I-476.

RIDLEY TWP., Pa. (WPVI) — A Drexel Hill woman has been charged with DUI after investigators say she crashed into a Pennsylvania State Police vehicle on I-476.

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Police say Sara Lawver crashed into the troopers’ patrol car in Ridley Township just after 11:30 p.m. Tuesday.

Troopers were conducting a traffic stop at the time and barely avoided being hit.

No one was injured.

Lawver also faces charges of reckless driving and recklessly endangering another person.

Copyright © 2024 WPVI-TV. All Rights Reserved.

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Today in Delaware County history, Nov. 20

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Today in Delaware County history, Nov. 20


100 Years Ago, 1924: From Washington, D.C.: The Census Bureau today made public estimates of the population of cities between 25,000 and 100,000 population as of July 1, 1924. The population of Chester was given as 66,602. These figures were published by the Times last July on special information from the Census Bureau. The last census, taken in 1920, gave Chester a population of 58,030.

75 Years Ago, 1949: Col. Frank K. Hyatt, Pennsylvania Military College president, is likely to remember today — his 64th birthday — a long, long time. At 7:30 a.m. Saturday, the popular prexy was routed from his bed by the din of the college band and the cheering of the students. When Col. Hyatt investigated the excitement at close range, he was presented with a television set and cries of “Happy birthday!”

50 Years Ago, 1974: Approximately 3,000 production and maintenance workers belonging to United Aerospace Workers Local 1069 went on strike early today against Boeing Vertol Co. It was the first walkout at the Ridley Township plant since 1968 when Local 1069 was out for four days. Local 1069 President Robert T. McHugh said today that negotiations had continued past the midnight deadline set by Local members when they voted to go on strike.

25 Years Ago, 1999: Aston police busted an underage drinking party after responding to a complaint early yesterday. Twenty-one arrests were made, with nine revelers from Aston, three from Delaware, four from West Chester, two from Glen Mills, and one from Folcroft, Media and Maryland. According to a report, officers responded to the 2200 block of Bridgewater Road about 2 a.m. They found two kegs of beer in a bathtub and began questioning those at the house. Officers quickly determined their ages were between 18 and 20. One 21-year-old male was also cited for public drunkenness.

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10 Years Ago, 2014: A group of Widener University communications students published a magazine that features stories and photographs about the school’s home city of Chester. The project was undertaken by the five students of Sam Starnes’ magazine journalism course offered in spring. The students produced every aspect of the publication, including conceiving and writing stories, taking photos and helping to design the publication. “The students did all of the reporting and writing,” Starnes said. “We ran the class just like a newsroom.” Unveiled Thursday afternoon, the 28-page magazine includes photos and stories highlighting Chester’s arts community, Crozer-Chester Medical Center, Laran Bronze foundry and the locally owned Phatso’s Bakery.

— COLIN AINSWORTH



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