As an increasing number of households are struggling to make ends meet amid a global pandemic, more Americans have found themselves raiding their retirement savings in this coronavirus induced Recession.
Emergency savings accounts are expected to boost plan sponsors’ retirement plans. A number of major record keepers are counting on this new feature to help ease the economic uncertainty faced by employees.
COVID-19 has disrupted everyone's lives and business and led to a lot of market volatility. Moreover, it has raised many questions about how to respond in a crisis; in particular how plan participants remain confident about their plan.