The Plans Management Board oversees the state’s investment programs. Available to the public, the 529 Educational Savings Plan hosts over 22,000 individual active accounts as of July 2020. The 529 has grown over the last three years, 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 nearly $300,000 in assets. Finally, the Board supervises the Deferred Compensation Program which offers a 457(b) and 403(b) retirement plan for state employees. Over 20,000 state employees participate in the program with enrollment increasing rapidly over the last several years.
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
401a Match Plan
State of Delaware 401a Match Plan Document 2017
Delaware 401a Match Plan Amendment One 122019
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
2021 403b Annual Plan Notice to Participants
529 Plans
DE529 Investment Policy Statement 12082020
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
Investment Policy Statements
Deferred Compensation Plans Investment Policy Statement – Under IRC §§ 457, 403(b) and 401(a)
Delaware College Investment Plan Investment Policy Statement
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