This case study examines the design, implementation, and key insights of My Starbucks Savings (MSS)—Starbucks’ employer-sponsored emergency savings program. In response to direct partner feedback, Starbucks launched the MSS benefit to help partners save and grow for their future. This built on a well-established foundation of existing financial well-being resources from 401(k) match, student loan navigation tools, shares of company stock, 100% tuition coverage for a bachelor’s degree from Arizona State University, and more. This case study was developed through Commonwealth’s partnershipwith Starbucks, a valued employer partner in BlackRock’s Emergency Savings Initiative (ESI).

Key Insights include: 

• EMERGENCY SAVINGS BOOSTS RETIREMENT SAVINGS PARTICIPATION: MSS savers have a 401(k) contribution rate triple that of non-savers—a pattern that holds across demographic groups, including partners living on low and moderate incomes.
• RETENTION: A SIGNAL FOR EMPLOYER ROI: Partners enrolled in MSS stayed at Starbucks for a median of nine months longer than partners who were not enrolled.
• CONSISTENT, PURPOSEFUL SAVINGS BEHAVIOR: Once enrolled, partners save consistently and increase their contributions over time. Partners contributed for 95% of the months they were enrolled and increased their average monthly contribution by 15% over the lifetime of the data.
• INCENTIVES DRIVE AND SUSTAIN ENGAGEMENT: The incentive structure reinforces this consistency. Partners continued contributing well beyond the final incentive milestone. Starbucks’ tiered incentive structure proved effective at motivating and sustaining savings beyond the first sign-up step.