The expiration date is required for a bunch of practical reasons, including to aid retailers in stock management. It is also required as part of ISO certification (when product that does have a limited lifespan is involved).
Most likely, the date reflects the fact that the packaging isn't impervious to damage - the handling it receives when shipped and when sitting on retailers' shelves, along with temperature and humidity variations, all together contributes to the developer inside having a limited lifespan. The date chosen reflects a very conservative projection of that limited life. Kodak (or Ilford, or ...) would rather be almost completely certain that your developer be good when you use it, than that you stock up on developer because of an expiration date that is far in the future.
To the OP: How long have you had the developer? How have you stored it? Have you any reason to believe that it has been exposed to harsh handling either since you obtained it or before?
Unless you have specific reason to doubt its efficacy, I would suggest you mix it up and, 24 hours later, develop a test roll. If that roll develops well, you can reasonably expect your developer to last as long as a package that is not so close to expiration.
One final point: I have seen innumerable posts here over the years where people have been tremendously concerned about maximizing the use of every drop possible of developer. While I don't like to waste money or valuable chemicals, I can't help but point out that developer itself is cheap - generally far cheaper than film or our time. If you end up wasting 25% of a package of D-76 because you don't use it up before the mixed developer starts to lose activity, than that is unfortunate, but it represents a tiny amount of money, and is more a sign that you ought to be shooting more film than anything else.
If your photography requires you to use large quantities of developers, there are choices available to you to minimize costs. If your photography only requires you to infrequently use small quantities of developers, there are choices (HC-110?) available to you make that more convenient as well, if you so choose.