Employees with access to SecureSave, a fintech platform that allows individuals to build emergency savings through an employer benefits platform, saved an average of $103 each month toward their emergency savings accounts.

According to a recent report from Commonwealth and Defined Contribution Institutional Investment Association, two insights are driving innovation and adoption for emergency savings initiatives.

The first insight is that emergency savings should be its own “bucket,” meaning funds are placed in an account that is distinct from funds intended for long-term retirement savings. The second insight says that well-designed emergency savings accounts are effective buffers against early withdrawals from retirement savings.