Given the high turnover rates and the financial stressors that employees often face, Pension-Linked Emergency Savings Accounts (PLESAs) present a progressive solution to enhance financial resilience and, by extension, workplace productivity. As a senior leader in Human Resources, you are not just managing employees; you are stewarding the financial resilience of a workforce that often […]
workplace emergency savings
The Importance of Emergency Savings for Employees
Emergency savings are critical for employee financial stability, and the demand for employer-assisted savings accounts is on the rise. Understanding the benefits of emergency funds can aid in withstanding unexpected expenses, and initiatives like employer contributions to savings accounts can significantly boost an employee’s safety net. This article explores the profound impact of emergency savings […]
What simplified emergency savings look like: badcredit.org article
I sat down with Jon and Andrew at badcredit.org recently to talk about why working Americans want help saving for emergencies. I became passionate about this journey because it’s partly my own. You probably have seen the new data around lack of emergency savings, rising loans and withdrawals against retirement savings, and growing demand for […]
6 Things Employees Want from Emergency Savings
Workplace emergency savings programs (also known as emergency savings accounts / ESAs) are rapidly gaining popularity, particularly with the recent passage of Secure Act 2.0. According to Transamerica’s Prescience report, 40%-60% of employers are expected to offer workplace emergency savings or ESAs as a benefit. So what should employers expect out of their employees when […]
How Alleghany Uses Sunny Day Fund to Help Their Employees Save for Emergencies
Workplace emergency savings programs and emergency savings accounts (ESAs) are becoming more and more common, especially as Secure Act 2.0 takes effect soon. As employers consider implementing an emergency savings program like Sunny Day Fund, it’s helpful to understand what to expect. As part of a new series of case studies, we are sitting down […]
Sitting Down with Lisa Massena to Talk Emergency Savings
By chance I sat next Lisa Massena at a recent forum on the future of retirement savings. Lisa launched OregonSaves, the original state Auto IRA that has become the template for twelve other states and more to come. Lisa is now the COO of Defined Contribution Institutional Investment Association (DCIIA), which has been conducting great […]