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A new study has found that emergency retirement savings plans can be an attractive option for lower-income workers.

The study, by Commonwealth and the Defined Contribution Institutional Investment Association, found that workers earning low and moderate incomes (LMI) who have emergency savings accounts were 70% more likely to contribute to their defined contribution plan.

The study said that LMI workers face challenges to financial security, which have become even more pronounced with things like the pandemic, inflation, and other recent challenges.

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