According to a recent poll conducted by AARP, 92% of Delaware state residents age 45 and older are worried about having enough money to retire, and 66% of residents who work at businesses with fewer than 100 employees do not have a retirement or pension plan. At the time of the bill’s signing, State Treasurer Colleen Davis said “the majority of residents that will be impacted by this program are currently earning wages in the low- to low-moderate-income range. We certainly expect individuals in higher earning ranges to also be eligible, though much fewer.”
The statistics for the state and the effects of the COVID-19 pandemic were instrumental in driving the bill’s passage, said Davis. “As the pandemic hit, we were drafting legislation to allow my office to develop this program. It became even more evident—the importance of this legislation,” Davis said.