Recordkeepers and plan sponsors can help employees keep their retirement contributions where they belong by offering employees emergency savings products in-plan (through after-tax contributions) or out-of-plan (where a recordkeeper partners with a fintech or traditional financial institution that provides a liquid savings account). Commonwealth has been working with recordkeepers to develop these features in defined contribution accounts. We believe that offering emergency savings through retirement accounts will help decrease hardship withdrawals, which have increased in recent years, while meeting plan sponsors’ interest in more financial wellness features on recordkeeper platforms.