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Colleen C. Davis
State Treasurer


Delaware Earns Program Board



About the Board:

The Delaware EARNS Program Board oversees the initial design and implementation of all administrative aspects of the Delaware EARNS program including, but not limited to,  marketing and promotional responsibility, vendor management, and investment oversight. The board will be disbanded no later than December 31, 2025, at which point all duties and functions of the board will be transferred to and assumed by the Plans Management Board.

Additional Duties of the Board:

  • Investment and Contribution Oversight: The board would select age-based investment options for participants as well as a simplified menu of alternative investment options. The board will also be tasked with establishing default investment options and contribution rates for participants
  • Vendor Selection: The board would be responsible for procuring and managing relationships with a third-party program administrator, investment managers, private financial institutions, other financial and service providers, consultants, actuaries, counsel, auditors, and other professionals when necessary
  • Strategic Partnerships: The board may seek to form or join consortiums or alliances for the purpose creating economies of scale and generating cost savings
  • Trust Oversight: The board shall establish a program trust for the purpose of protecting participant contributions.

This body was established by Del. Code Title 19 § 3803 The Delaware EARNS Program Board.

 


Membership:

The Board is composed of seven members including the State Treasurer, the Secretary of Finance, the Insurance Commissioner, and the Secretary of Labor. Each may appoint a person to serve in their stead. The chairperson of the Plans Management Board, who may designate a member of the Plans Management Board or one of its committees to serve in the chairperson’s stead. Two public members appointed by the Governor, one of whom must be an owner of a small business in the State with the other having experience in providing financial advice or assistance to lower to moderate income workers or retirees. The Governor will appoint one of the public members as chairperson.

Members of the Delaware EARNS Board:

Fayetta Blake

Fayetta Blake

Chair, Delaware EARNS Program Board

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Treasurer Davis

Colleen C. Davis

State Treasurer

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Secretary Geisenberger

Richard J. Geisenberger

Secretary of Finance

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Christina Haas

Christina Haas

Office of the Insurance Commissioner

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Ethel Belfon

Ethel Belfon

Department of Labor

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Donna Vieira

Donna Vieira

Chair, Plans Management Board

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Rob Herrera

Robert Herrera

Member at Large

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Delaware EARNS Oversight [proposed]

EARNS Oversight Structure

Board Resource Materials:

Coming soon


Click here to make a FOIA request regarding the EARNS Program Board

 

EARNS

Helping Delawareans Save for the Future

 

 



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