“Emergency savings is important because it helps our people prepare in their financial wellness.[…] We just want to make it easy for people to save for those emergency situations.”
B.J. Dorfman, Director, Global Retirement Strategy and U.S. Benefits, UPS
How After-Tax Options Enhance Savings Habits
UPS is proud to offer an employer-sponsored 401(k) for their 100,000 non-union employees. So how does the business ensure those hard-earned savings actually go toward retirement, and not unexpected expenses?
Through BlackRock’s Emergency Savings Initiative (ESI), UPS partnered with Commonwealth, a nonprofit that focuses on financial security, and retirement solutions provider Voya Financial to find an emergency savings solution for its employees. By combining the after-tax option in its existing 401(k) offering with a strategic communications campaign, UPS helped its employees save a total of $15 million over a 21-month period.
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The 2022 Impact Report
UPS is one of more than 30 organizations that have joined forces with ESI, ultimately helping millions of people gain access to emergency savings. Read the full report to explore key milestones, learnings, and emerging areas for innovation.