Secure 2.0 emergency savings provisionsThe Secure 2.0 legislation that was signed into law in December included two changes aimed at helping to make it easier for workers to access emergency cash.
It may take another two to three years before the $2,500 emergency savings provision makes a difference, Copeland estimated.
New awareness of need for emergency savingsHowever, experts say the legislative changes are still a big step forward for emergency savings.
"This whole conversation has really brought to the fore the importance of emergency savings and emergency savings accounts," said Emerson Sprick, senior economic analyst at the Bipartisan Policy Center.
Now, the financial industry, consumer advocates and others are starting to think about what comprehensive emergency savings coverage could look like, he said.
Persons:
Joe Raedle, SecureSave, Devin Miller, Miller, Craig Copeland, Copeland, Emerson Sprick, We've
Organizations:
Getty, Workers, Research, IRS, Center
Locations:
Miami , Florida