Seventy-five percent of workers said that if they were offered savings options at the time of a raise, they would be less stressed and more confident about their finances, according to a survey from Commonwealth.
According to the firm, its new savings solution uses after-tax employee contributions to an existing retirement plan to build savings that can be accessed to cover emergencies.
The bills would allow for pooled employer plans, incentivize employers to adopt plans with automatic enrollment; allow employers to automatically enroll their workers in emergency savings accounts; and make it easier for individuals to automatically save their tax refunds.