OTHER SAVINGS APPROACHES: Policy
Consumers should have access to a range of safe, reliable, affordable, and customizable emergency and short-term savings options, including through payroll deduction or direct debit.
Policymakers should eliminate administrative and policy barriers to employers offering employees access to automatic enrollment into multiple savings accounts for both retirement and non-retirement purposes.
States should change their laws to allow banks, credit unions, and other financial institutions to offer prize-linked savings opportunities.
Repayment of student loans
Policymakers should allow employers to provide student loan-repayment aid as a tax-free benefit (see also Chapter 11, Financial Services and Consumer Products - Student Loans for Higher Education).