Growing Appetite for Emergency Savings Programs
The number of employers offering an emergency savings program is expected to more than triple within the next 12 months. The COVID-19 pandemic and associated economic downturn sheds the spotlight on the cost of a financially unwell workforce. Many employers are taking steps to enhance the Financial Wellness of their workforce by offering emergency savings programs. Projections are supported by a survey of 70 member advisors of the Council representing more than 8000 plans and 4 million participants. This is the first of several report in a series from this study on Financial Wellness programs and engagement.