Aspen is a place for leaders to lift their sights above the possessions which possess them. To confront their own nature as human beings, to regain control over their own humanity by becoming more self-aware, more self-correcting, and hence more self-fulfilling.
For decades, those who help low- and moderate-income Americans build wealth have focused on long-term investments: home ownership, higher education, and retirement. But those tools are meaningful only if families can first manage their day-to-day needs. Too many people struggle to meet expenses, especially those triggered by unforeseen events like car repairs and hospital visits, because they have no liquid savings. That’s why the Financial Security Program is exploring a new idea: link a short-term savings, or “sidecar,” account to a traditional retirement account. Workers would fund a short-term account that could be used for emergencies, and, once a sufficient buffer was built up, automatically divert additional contributions to a traditional retirement account. To ensure a constant buffer, the short-term account would be automatically replenished. Because so few tools are widely available for short-term saving, many Americans resort to raiding their 401(k)s for quick cash. By formalizing the dual role the retirement system currently plays, savers would be able to better distinguish between what is available now and what is locked away for retirement. The proposal has been well received, and many are now pilot-testing sidecar models. Of course, if designed poorly, the sidecar could be yet another complicated structure in a sea of complex savings plans. But if done right, the sidecar could improve Americans’ financial well-being and security.
Leveraging a first-of-its-kind database, the Workers’ Wealth Lab uses retirement plan data to identify the tools and design features that can improve our retirement savings system. Read the report from the 2025 Lab.
Aspen FSP partnered with Canary, a provider of employee emergency relief funds, to explore how workers used this workplace offering when faced with financial emergencies, as well as how it impacted their financial security and experiences at work.
Aspen FSP partnered with SecureSave, a provider of workplace emergency savings accounts (ESAs), to survey 274 SecureSave users about their financial well-being and catalyze a conversation around ESAs.
Most households experience at least one financial shock in a given year, but there are few comprehensive solutions to help them. How can we solve this persistent challenge?
