How Emergency Savings Serves Low-Income Households
BlackRock research shows that emergency savings balances helped low-income households keep more money in their retirement savings accounts during the COVID-19 pandemic.
Timing Savings Options With a Raise Can Help With Financial Wellness
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.
To Fight Plan Leakage, Prudential Promotes After-Tax Savings
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.
Addressing Plan Leakage with Sidecar Accounts
Package of Bills Addresses Retirement Plan Access and Emergency Savings Accounts
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.