Seattle-based actuarial, consulting, and benefits administration firm Milliman, Inc. recently announced that it will add SecureSave, an emergency savings program co-founded by popular but controversial personal finance expert Suze Orman, to the financial wellness services offered to its network of retirement plan clients.
According to the company, SecureSave is a financial technology platform that allows individuals to build emergency savings through an employer benefits platform. Through SecureSave’s platform, employees can set up free emergency personal savings accounts through the ease of payroll deductions, receive matched contributions from their employer, and access their money whenever they need it. The SecureSave user saves an average of $103 a month toward an emergency savings account.
“I know without a shadow of a doubt that an emergency savings account is the key to a life of financial security,” said Orman, the sometimes controversial personal finance expert, host of the “Women & Money” podcast, and co-founder of SecureSave. “To us, SecureSave is more than just a business or a technology product. We believe that everyone deserves to live a life of financial security and that starts with building and maintaining an emergency savings account.”
“We are pleased to work with SecureSave to offer an emergency savings account to complement our clients’ retirement plan strategies,” said Janet McCune, Milliman principal and employee benefits administration products leader. “Emergency savings offer participants a critical alternative to plan loans or withdrawals, and is a key component in helping people create healthy financial outcomes. Easy access to emergency funds today allows participants to retain their 401k savings for the future.”
“We are very excited to launch SecureSave for Milliman clients,” added Devin Miller, CEO and co-founder of SecureSave. “Americans are more stressed than ever over their finances, and we believe emergency savings are poised to be one of the most crucial benefit programs offered by employers. SecureSave is purpose-built for employers with an active interest in employee financial success, but it also serves as an excellent attraction and retention tool for employers in a competitive labor market.”
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
