In the Media
MEDIA CONTACT
Jackie Jusko
Cell: 216-374-0945
jjusko@buildcommonwealth.org
To drive maximum progress on making wealth possible for all, Commonwealth complements our innovation and partnerships by shaping relevant public and private conversations in the media. Amplifying our work in national, mainstream, and trade outlets is critical to informing and inspiring business, fintech, and policy leaders to act, and ultimately to achieving our vision of systemic change. Browse our latest articles here.
Investment News: 401(k)s add COVID-19 cash-outs, few workers take them
As plan sponsors offer retirement plan cash-out options following the CARES Act, take-up rates are low – but Commonwealth and DCIIA have found a connection between having low savings and the likelihood of taking COVID-19 401(k) distributions.
New York Times: Your Brother (or Sister or Mother) Is Asking for Money. Now What?
Our ongoing research on the financial effects of COVID-19 demonstrated that people were increasingly borrowing from family and friends as their financial pictures worsened during the pandemic. “What's unique about this financial crisis is its cause–a virus beyond any individual's…
Wall Street Journal: Should You Tap Retirement Funds in a Crisis? Increasingly, People Say Yes.
The CARES Act has loosened the rules around borrowing from retirement as a response to the financial impact of COVID-19. In a Wall Street Journal article, Commonwealth Executive Director Timothy Flacke weighs in on this strategy, which leads to concerns about…
Benefits Pro: 7 takeaways on offering emergency savings programs in post-COVID-19 America
Commonwealth's Timothy Flacke joined Defined Contribution Institutional Investment Association (DCIIA) to discuss the importance of liquid savings as a buffer, and how we can leverage current infrastructure to help people save. An article in Benefits Pro features 7 key takeaways.
PlanSponsor: Emergency Savings Post-COVID Will Be Viewed Differently
Commonwealth Executive Director Timothy Flacke joined Defined Contribution Institutional Investment Association (DCIIA) for a webinar to discuss how emergency savings will be transformed post-pandemic and the realization that American's financial well-being was not as strong as it appeared.
Fast Company: What happens when you give gig workers emergency cash?
A study by Commonwealth and The Workers Lab has valuable insights around emergency cash programs and their potential as we consider the financial recovery from COVID-19. Read more on the findings and how they might be applied to cash assistance…
US News: How Does a Coronavirus Hardship Loan Work?
Many banks are offering hardship loans during COVID-19. Commonwealth Senior Vice President Melissa Gopnik weighs in on finding the right tool for a specific financial need, and the potential for employer hardship funds during this time, in a recent article…
Payments Journal: Towards Changing Savings as Usual
In an Op-Ed for Payments Journal, Commonwealth Senior Vice President Nick Maynard and Senior Policy Manager Jason Ewas look at what financial institutions need to keep in mind while designing better savings products for those financially impacted by COVID-19 –…
BenefitsPro: The CARES Act Demonstrates Need for Emergency Savings Within Retirement Funds
The CARES Act removes many of the penalties for early retirement withdrawals. It's a necessary step during this economic crisis, but it has long-term consequences for retirement savings. HR leaders can require retirement recordkeepers to build liquid emergency savings products…
Investment News: Interest in emergency savings accounts likely to grow post-COVID-19
Experts predict that the demand for emergency savings programs will increase in the wake of the COVID-19 crisis, and Commonwealth is working with regulators and providers to develop viable options.
Strategies for Building Employee Financial Security During the COVID-19 Pandemic
In a guest post for BenefitsPRO, Commonwealth Senior Vice President Melissa Gopnik lays out practical strategies employers can take now to improve the financial security of employees and strengthen their workforce for the future economic impact of the COVID-19 pandemic.
Nontraditional Workers Face Big Setbacks Amid COVID-19
The financial challenges of non-traditional workers have been a prominent issue during the pandemic. Planadviser covers our recent survey about the financial challenges of Etsy sellers, and Commonwealth's Brian Gilmore spoke to them about the challenges non-traditional workers face around…