What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Giving Compass' Take:
• Researchers at Aspen Institute identified four primary steps to re-designing retirement savings plans that are more inclusive and equitable in the United States.
• How can donors help fund or support changes to an equitable retirement savings ecosystem?
• Read about policy solutions that address unequal retirement savings programs.
In the report Re-Imagining Retirement Amid New Uncertainty 2020, Aspen FSP identified four priority design principles essential to creating a more robust, inclusive, and practical retirement savings ecosystem for people across America:
- Provide universal access to automatic enrollment in workplace retirement savings
- Help workers build liquid emergency savings alongside their retirement savings
- Make retirement savings portable
- Innovate to create lifetime income streams for everyone
Read the full article about inclusive retirement savings by Karen Biddle Andres, Tim Shaw, Sorhrab Kohl, and Taylor Gauthier at The Aspen Institute.
Experts strongly believe that emergency savings accounts encourage retirement savings, reduce leakage, and improve financial stability.