Financial experts suggest that people have a savings account to cover 4 to 6 months of expenses in case of an emergency. Yet, according to Bankrate, only 43% of Americans have $1,000 saved for an emergency. This can lead to stress and anxiety for employees who are in the other 57% of the population, which in turn can adversely impact productivity. To help alleviate the situation, if your business has a 401(k) plan, you can allow for a pension-linked emergency savings account (PLESA) beginning in 2024. Here are some considerations to help you decide whether to go forward and get […]
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