Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Jason Ewas, senior policy manager, Commonwealth

New policy guidance from the Consumer Finance Protection Bureau (CFPB) opens the door for employers to automatically enroll their workers in short-term emergency savings accounts, also known as Autosave. This guidance clarifies what was previously a major barrier to allowing this type of automatic enrollment, and may allow employers to expand their role in addressing the financial security of their workforce.

For employers, this is an opportunity to make enrollment in a savings program as automatic as 401(k) enrollment is; that is, a certain percentage of the employee’s check is deposited into a savings account by default, with certain conditions, and the employee needs to take action to opt out.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Emily Payne

Emily Payne is managing editor at BenefitsPRO. A Wisconsin native, she spent the past eight years writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.

More from this author



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.