Workplace emergency savings accounts (or ESAs as they’re starting to be known) have rapidly become the top requested financial benefit for most working Americans. It’s easy to understand why when 53% of Americans don’t have any emergency funds according to CNBC Your Money Financial Confidence Survey and nearly 40% would struggle to handle a $400 […]
We recently spoke with Erica Hayton, the Total Rewards leader at the Cystic Fibrosis Foundation, to learn why and how they added workplace emergency savings – a new and frequently requested financial benefit. Hayton shared her team’s experience with benefit strategy evaluation, provider selection, plan design, technical implementation, marketing and communication, and post-implementation measurement. Below, […]
Workplace emergency savings accounts take on the form of in-plan (administered alongside a defined contribution retirement savings plan under ERISA compliance) or out-of-plan (administered separately, outside of ERISA compliance). ERISA, or the Employment Retirement Income Security Act, is the federal law that lays out the requirements for employer-sponsored retirement plans. When it comes to choosing […]
On average, white families have eight times the wealth of Black families and five times the wealth of Hispanic families. For companies prioritizing DEI as a core value to their organization, addressing this wealth gap is the first step towards advancing racial equity. Companies play a major role in advancing financial inclusion and increasing the […]
Sustainable DEI change requires both commitment and deliberate action; closing the gap to turn the intangible into actionable DEI initiatives and supporting equity and fairness in the workplace. In order to get there, organizations need to understand the fundamentals of diversity, equity, and inclusion – and how to instill the values of DEI within the […]
SECURE Act 2.0 guide for employers to know how it affects their business, like changes in employer-sponsored retirement savings & workplace benefits plans.