Autosave for Emergencies Webinar
Even before the pandemic, we knew that close to half of Americans would have trouble finding $400 to cover a financial crisis. For many, the pandemic has worsened their situation. Forward-thinking employers are now in a unique position to help…
Designed for Dynamic Saving
The “cycle of savings” is the ongoing act of building, using, and replenishing savings that strengthens financial resiliency and allows families to invest in their financial security. This insight, highlighted in the Aspen Institute Financial Security Program’s new report, The…
Saving Through a Crisis (2 of 2)
Commonwealth’s “Saving Through a Crisis” series shares our latest research, in partnership with the Defined Contribution Institutional Investment Association’s Retirement Research Center, on how low- to moderate-income plan participants are handling their retirement savings during the pandemic. Americans are now…
New Research: Emergency Savings
Commonwealth’s Financial Resilience Project: COVID Stories, Rapid Insights closely tracks the financial lives of low- and moderate-income households over the course of several months. Our project follows 56 households from 24 states across the United States to gain rapid insights…
Leveraging Retirement Platforms for Emergency Savings
As the COVID-19 recession pushes more and more Americans to the limits of their financial resources, retirement savings—usually considered an untouchable pool of funds—are increasingly functioning as emergency cash. With more Americans losing their jobs—and millions more losing supplemental unemployment…
How Recordkeepers Can Address Emergency Savings
Employer-sponsored emergency savings products were needed long before COVID-19, but the pandemic has both underscored and exacerbated the detrimental impact that financial insecurity can have on employee performance and retirement readiness. Although the CARES Act allows retirement plan participants to…
Rethinking Employer-Sponsored Savings Accounts
In a matter of months, the economic devastation of the COVID-19 pandemic has plunged millions of people living in the US into deeper financial insecurity. Pre-pandemic, many Americans struggled to build and maintain emergency savings for even a minor unexpected…
3 Takeaways from EMERGE Live Day 4
Amid an unexpected economic downturn, many Americans have found themselves grappling with the financial insecurity that accompanies massive layoffs and a widespread loss of income. At Financial Health Network’s EMERGE Live 2020, industry leaders gathered to share the solutions that employers,…
Saving Through a Crisis (1 of 2)
In the months since the outbreak of COVID-19, the pandemic has continued to expose and exacerbate cracks in people’s financial lives. In our latest research, Commonwealth partnered with the Defined Contribution Institutional Investment Association’s (DCIIA) Retirement Research Center on a series…
What the Workers Strength Fund Can Tell Us About Emergency Cash During COVID-19
In the last several months, millions of Americans have directly experienced the financial impact of the COVID-19 pandemic and many have found themselves without a savings cushion to fall back on. The pandemic has amplified the widespread financial insecurity and…