A new piece of legislation aimed at strengthening retirement savings for Delaware state employees is one step away from becoming law.
The Delaware General Assembly voted on Tuesday, June 30, to pass HB 423, a bill that would automatically enroll newly hired state workers in Delaware DEFER — the state’s 457(b) deferred compensation savings plan.
Lawmakers say the measure is intended to address a persistent shortfall in retirement preparedness among state employees. Under the new system, new hires would be enrolled automatically rather than having to opt in on their own.
The legislation now moves to Governor Meyer’s desk, where it awaits a signature to become law.
