Understanding Delaware's State Mandates for Retirement Plans: Options and Compliance
Help clients understand requirements under Delaware's retirement state mandated program and explore the best solutions to meet their business needs.
Key Points
- State Mandate Compliance: Inform clients about Delaware's retirement program requirements, including the need for employers with five or more employees to offer a retirement plan.
- Delaware EARNS Overview: Explain the features of the Delaware EARNS program, such as automatic enrollment, contribution rates, and the minimal administrative responsibilities for employers.
- Alternative Plan Options: Highlight the benefits of alternative plan options like 401(k) and PEPs, which offer greater flexibility, higher contribution limits, and potential tax advantages for both employers and employees.