Delaware · Senate Bill 20 · 153rd General Assembly

Employer Match/Deferred Compensation Program/Updates

SB 20 Sponsored by Trey Paradee In committee

  1. Introduced Jan 30, 2025
  2. In committee Jan 30, 2025
  3. Passed the Senate Next
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

The State of Delaware previously offered an employer match for state employee contributions to the deferred compensation program. The purpose of the match was to help state employees save and build wealth for retirement and to enable state government to recruit and retain talent by offering a valuable retirement savings benefit. In July 2008, during the Great Recession, the State suspended the employer match to cut…

Read the full title (228 words)

The State of Delaware previously offered an employer match for state employee contributions to the deferred compensation program. The purpose of the match was to help state employees save and build wealth for retirement and to enable state government to recruit and retain talent by offering a valuable retirement savings benefit. In July 2008, during the Great Recession, the State suspended the employer match to cut costs. Every year since fiscal year 2008, the General Assembly has written in the annual appropriations bill: “It is the intent of the General Assembly that this program be reinstated when funding becomes available.” This Act updates the laws governing the employer match in anticipation of the General Assembly restoring the match this session and increases the maximum match to $20 per pay period. This Act also eases restrictions on which participants are eligible for the match. To help employees who are unable to save for retirement because of their student loan burden, this Act enables a match for employee’s student loan payments with employer contributions to their deferred compensation account. Congress enabled employers to make this type of matching contribution with the passage of the SECURE 2.0 Act, which was included in the Federal Fiscal Year 2023 Omnibus Appropriations Bill. This Act provides the Plans Management Board with the discretion to determine which plan the matching contributions should be deposited into.

Every action

3 steps, oldest first, as the legislature records them.

  1. CommitteeIntroduced and Assigned to Elections & Government Affairs Committee in Senate · Senate Elections & Government Affairs
  2. CommitteeReported Out of Committee (Elections & Government Affairs) in Senate with 4 On Its Merits, 1 Unfavorable · Senate Elections & Government Affairs
  3. CommitteeAssigned to Finance Committee in Senate · Senate Finance

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 19 cosponsors: 14 Democrats, 5 Republicans.

All 19 cosponsors

From Delaware's official records (legis.delaware.gov), checked Nov 1, 2026. Text links go to the official versions; LegiList does not copy bill text.