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Accounting for emergencies: The relationship between emergency and retirement savings
Our survey aims to advance the conversation on key principles to guide policy conversations related to workplace savings benefits.
Accounting for Emergencies
Commonwealth and SaverLife recently conducted a survey of SaverLife members who have access to workplace retirement savings to assess their awareness and perceptions of liquidity options in retirement and the relationship between emergency savings and retirement savings. The survey focused on the perspectives of people with low to moderate incomes (LMI), women, and people of color.
The relationship between emergency savings and retirement savings
Our survey aims to advance the conversation on key principles to guide policy conversations related to workplace savings benefits. We believe that starts by incorporating the perspectives of LMI households, women, and people of color into the discussion.
What we found: Key findings
People face multiple emergency expenses in a year and most experience an emergency expense of over $1,000 in a year.
LMI households want liquidity options within or alongside retirement savings, but preferences vary about how they access funds.
