The Plans Management Board oversees the state’s investment programs. Available to the public, the 529 Educational Savings Plan has 22,000 individual active accounts with approximately $673.3 million in assets as of March 31, 2024. The 529 has continued to grow since its inception, helping residents plan for educational costs, and increasing college- and career-readiness. The 529A ABLE Savings Plan for individuals with disabilities opened in June of 2018, and holds over $4 million in assets. Finally, the Board supervises the Deferred Compensation Program which offers a 457(b) and 403(b) retirement plan for state employees with 23,515 participating with approximately $1.3 billion in assets.
This body was established by Del. Code Title 29 Ch. § 2722 Plans Management Board.
The Board is composed of 11 members, including the State Treasurer, the Secretary of Finance, the Director of the Office of Management and Budget, the Insurance Commissioner and the Secretary of Education. Each may appoint a person to serve in their stead. Two state employees appointed by the Governor, one of whom can participate in the 403b Plan, also serve on the Board alongside four public members appointed by the Governor.
View the members of the Plans Management Board:
The Audit and Governance Committee has the authority to review and make recommendations to the Board about all matters related to (i) Plan audits (ii) Plan amendments, (iii) Plan-related cybersecurity issues; and other audit or governance matters pertaining to the Plans.
Members: Committee Chair Pete Kennedy, State Treasurer Colleen C. Davis, Tim Snyder, John Macedo.
Members: Committee Chair Alan Colberg; State Treasurer Colleen C. Davis, Secretary of Finance Rick Geisenberger, Todd Roselle, David Biddle.
These committees exist to review specific programs, projects, or topics to make recommendations to the Board. Committee members may be experts who do not serve on the full Board.
Plans Management Board Members can find pertinent government materials here.
Deferred Compensation Plan
State of Delaware 457b Plan Document 2017
Delaware 457(b) Plan Amendment One 102017
Delaware 457(b) Plan Amendment Two 122019
Delaware 457(b) Plan Amendment Three 062020
Delaware 457(b) Plan Amendment Four 06072022
Delaware 457(b) Plan Amendment Five 09132022
401a Match Plan
State of Delaware 401a Match Plan Document 2017
Delaware 401a Match Plan Amendment One 122019
Delaware 401a Match Plan Amendment Two 06072022
Delaware 401a Match Plan Amendment Three 06072022
403b Plan
State of Delaware 403b Plan Document 2017
State of Delaware 403(b) Plan Amendment One 072017
Delaware 403(b) Plan Amendment Two 122019
State of Delaware 403(b) Plan Amendment Three 032020
State of Delaware 403(b) Plan Amendment Four 06072022
State of Delaware 403(b) Plan Amendment Five 09132022
2021 403b Annual Plan Notice to Participants
529 Plans
Plans Management Board (PMB) Policies
PMB Documentation of Fiduciary Decisions 6-4-19
PMB Proxy Voting Policy 6-4-19
PMB Indemnification Procedures 9-4-19
PMB Policy and Procedures for Reimbursement 9-4-19
PMB Communication Policy 9-1-20
PMB Plan Expense Policy (Allocation and Payment of Plan Expenses 9 13 22
PMB Vendor Management Policy 9-10-24
Investment Policy Statements
Deferred Compensation Plans Investment Policy Statement – Under IRC §§ 457, 403(b) and 401(a)
Delaware College Investment Plan Investment Policy Statement
ABLE Investment Policy Statement
Memoranda of Understanding
Fiduciary Training Presented by Ice Miller 9/10/2024
Delaware’s Freedom of Information Act and Public Records Law Training – September 14, 2021
Boards and Commissions Ethics Training – June 8, 2021
November 7, 2024
Delaware’s Education Savings Plan Earns Silver Rating
October 2, 2024
Delaware EARNS Registration Deadline Approaching
September 4, 2024
Education Related Funds Awarded to Former Foster Youth
August 14, 2024
Delaware Treasurer Colleen Davis Celebrates Inaugural ABLE Savings Day
July 1, 2024
Registration is Now Open for Delaware EARNS Retirement Benefit Program
June 3, 2024
Program to Help Foster Youth Pursue Higher Education Returns
May 24, 2024
Delawareans Gear Up to Celebrate 529 Day
May 2, 2024
First employers sign onto transformative Delaware EARNS retirement benefit
February 2, 2024
Treasurer Davis Honored for Delaware EARNS
August 7, 2023
College Savings on the Rise in Delaware
June 1, 2023
Program to Help Foster Youth Pursue Higher Education Returns
May 24, 2023
April 20, 2023
Treasurer Davis Offers Legislation to Boost Retirement Savings for State Employees
March 6, 2023
Almost $40,000 in “Free Money” Paid to DE529 Accounts
December 8, 2022
Give the Gift of Education This Year
December 1, 2022
New Tax Deduction for Contributions to Savings Plans
November 3, 2022
Former Foster Youth Get Help to Further Education
July 21, 2022
Money Still Available for Foster Youth to Pursue Higher Education
July 1, 2022
Treasurer Davis to Help Fund New Education Accounts
Thursday, June 30, 2022
Two State Sponsored Savings Programs to Bring New Tax Deductions
Wednesday, June 22, 2022
Lawmakers Approve Treasurer’s Retirement Legislation
Tuesday, May 31, 2022
Program to Help Foster Youth Pursue Higher Education
Wednesday, May 25, 2022
May 29th is 529 Day
Thursday, February 17, 2022
Treasurer Davis Encourages Delawareans to Examine Saving Habits
Tuesday, November 23, 2021
Give the Gift of Education this Holiday Season
Friday, September 17, 2021
College Savings Highlighted in Work of Office of the State Treasurer
Thursday, May 20, 2021
State Treasurer Colleen Davis Brings Forth Landmark Retirement Program for Delaware
February 4, 2021
Treasurer Davis Named to National Board to Help Families Save for Education
August 12, 2020
State Treasurer Colleen Davis Marks #ABLEtoSave Month
July 23, 2020
Treasurer Davis Urges Change to Protect Financial Freedom of People with Disabilities
July 14, 2020
State Treasurer Urges Caution to Those Making Withdrawals From Retirement Funds
June 6, 2020
Treasurer Davis Says Now is the Time to Review Savings Plans
January 29, 2020
Treasurer Davis Interview Highlights Settlement to Help Teachers Retirement Investments
Click here to make a FOIA request regarding the Plans Management Board. All FOIA requests for the Board must be directed to the Office of the State Treasurer (OST) via the state FOIA portal. OST Director of Communications Carl Kanefsky serves as the FOIA Coordinator for the Board.