According to the firms, employees with access to SecureSave save an average of $103 a month towards an emergency savings account.
The solution, which aims to help employees save for unexpected events that may impact their retirement security, is being rolled out via new relationships for the firm with Millennium Trust Company and SecureSave.
Roth and after-tax accounts could be used to facilitate emergency savings, with certain considerations about the cost of accessing funds and the effect on nondiscrimination testing.
Areas of focus have shifted during the pandemic and will define trends for the new year.
A new survey shows workers’ ability to maintain or regain financial control after a serious, unexpected health event appears difficult—if not impossible—especially for Millennials and early career professionals.
Would you accept a bet in which you win $200 if a coin lands on heads and lose $100 if it lands on tails? What if you could play twice?
The bill would encourage retirement plan participation by giving people penalty-free access to funds in the event of an emergency.
In the past few years, her practice has grown its assets by nearly $1 billion a year.
Jason Chepenik says advisers need to continue to have the courage to try new ideas.
Employers can match up to 100% of employees’ contributions.
More than half of Americans are earning half or less than half of their pre-pandemic income, and 31% have lost their entire income, a FlexJobs and Prudential survey has revealed.
It took a catastrophic global event to demonstrate how ill-prepared many Americans are for even a brief interruption of income—including many people high up on the income scale.
More than one-quarter are extremely or very concerned, according to Fidelity.
Industry analysts predict the younger workforce may shift its focus towards emergency savings, instead of retirement, as a result of the COVID-19 crisis. Advisers can help with this shift.