AARP Delaware and State Treasurer Colleen Davis are backing legislation to create a low-cost retirement savings plan for Delawareans.

If passed, the plan known as Delaware Expanding Access for Retirement and Necessary Savings or DE EARNS would provide workers and employers access to low-cost retirement savings plans.

It’s a state-facilitated, universally available retirement savings plan that would provide a way for all workers to save for retirement.

The program is designed for middle and low-income workers who lack access to employer-sponsored plans.

State Treasurer Colleen Davis says this program was devised after seeing that half of Delaware workers are not saving for their future through a 401k-type plan.

Delaware Public News