Planadviser cited a report from Commonwealth and Defined Contribution Institutional Investment Association (DCIIA), which gives insight into the progress the retirement industry has made on developing and implementing emergency savings solutions.

The report found that the general consensus is that emergency savings solutions should enable short-term savings with liquidity and preserve long-term savings. Most of the solutions highlighted in the report offer a dedicated account distinct from retirement savings that is either outside of the retirement plan as a standalone account or inside of the plan but separate from the core retirement assets.