While research is demonstrating low uptake of CARES Act 401(k) loans and emergency withdrawals, our data, collected in collaboration with DCIIA Retirement Research Center, indicates that emergency savings plays a critical role in whether people take those withdrawals.

“The pandemic has really demonstrated how critical these savings are. I imagine we’ll be seeing more professionals offering emergency savings through the employer channel in the future,” Commonwealth’s Catherine Wright told Plansponsor.