Commonwealth and DCIIA presented findings from our research about drivers and considerations of recordkeeper-provided emergency savings and discussed the implications of these findings for recordkeepers, plan sponsors, retirement advisors, and financial institutions.

With 37% of Americans unable to afford a $400 emergency and 50% of Americans unprepared for retirement, retirement recordkeepers recognize that many of their plan participants cannot cover the costs of short-term emergencies, let alone prepare for financially stable retirement. Now they are acting to solve this issue by offering or planning to offer emergency savings products. To capture and share insights from the retirement industry on offering workplace emergency savings products, Commonwealth and DCIIA Retirement Research Center (RRC) conducted a series of interviews with nine of the largest recordkeepers and seven plan sponsors. This research explores the role that recordkeepers and plan sponsors will play in promoting an inclusive recovery by supporting the most financially vulnerable workers in rebuilding financial security.

Moderator & Research Presenter

• Catherine Wright, Senior Innovation Manager, Commonwealth

Panelists

• Warren Cormier, Executive Director, DCIIA Retirement Research Center (RRC)
• Additional panelists to be announced