Workers throughout Delaware have accumulated $10 million in retirement savings through the state’s automatic enrollment program, officials announced Tuesday.
State Treasurer Colleen Davis revealed that Delaware EARNS hit the significant financial benchmark in less than two years of operation. The program automatically enrolls eligible workers in retirement accounts.
“We celebrated EARNS reaching $1 million just last February, and it’s gratifying to see how those savings have grown,” Davis said during the announcement in Dover.
The auto-IRA initiative represents a major achievement for the state’s efforts to help workers build retirement security. The program targets employees whose employers don’t offer traditional retirement benefits.
The rapid growth from $1 million to $10 million in roughly 14 months demonstrates strong participation among Delaware workers who previously lacked access to workplace retirement plans.
