Companies have long helped their workers save for retirement through 401(k)s and other workplace plans. But recent SECURE 2.0 legislation has blessed a newer trend: employers creating emergency savings options that could encourage workers to save more and avoid raiding their retirement funds. As Americans learned during the COVID pandemic, emergency savings are crucial to financial stability, and the lack of savings can spell disaster when facing an unexpected expense. Now, with the help of employers, starting an emergency fund — and contributing to it regularly — could be easier than before.
