Financial wellness goes beyond an adequate paycheck.  

It's easy to confuse “not earning enough money” with “not having enough money”. Having a well-funded emergency savings account, plus savings to meet short and mid-term purchase needs is a fundamental step of financial wellness.

  • Two-thirds of Americans report being sometimes or constantly stressed by not having basic finances in order. Source
  • 78% of Americans are living paycheck to paycheck. Source
  • 4 in 10 Americans lack savings to cover a $400 unplanned expense. Source
  • Living financially stressed is unproductive and costly to employees and their employer. Source

Why MatchSavings?

Reduce advance pay requests and employee distractions

Financially stressed workers are: 10x more likely to not finish daily work tasks; 9x more likely to submit less work;  9x more likely to have poor relationships with co-workers; 2x more likely to spend 3+ hours each week dealing with money matters at work.

Reduce lost wages and employee turn-over

Financially stressed workers are: 7x more likely to be depressed; 2x more likely to be looking for a new job.

Improve recruitment and loyalty

71% of employees say they would participate in an emergency savings program if their employer offered one, and 87% would participate if their employer offered a match.

No hassles with forms, permissions, or penalties.

Employees don’t need to complete forms or see their employer to access their funds. Employees can not overspend their account, so there are no surprising overdraft fees. Funds are accessible to the employee when they need it, without incurring a penalty, such as the 10% penalty imposed on 401(k) participants for early withdrawal.

Employer Contributions are tax-deductible to the same extent as wages.

All employee and employer contributions to the plan are after-tax, however, employer contributions are treated the same as wages, which means they are tax-deductible to the business.

MatchSavings is easy to administer and cost efficient

Currently a MatchSavings plan is not subject to ERISA or other qualified plan regulations, which means it is less complicated and is much lower cost than a 401(k) plan.

Get started with MatchSavings today

Whether you are an employee seeking an efficient and robust savings vehicle, or an employer seeking a more financially stable workforce, let MatchSavings help you get there.

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