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T. ROWE PRICE LAUNCHES PENSION-LINKED EMERGENCY SAVINGS ACCOUNTS
T. Rowe Price, a global investment management firm and a leader in retirement, today announced the launch of its in-plan emergency savings accounts (ESAs) for retirement plan participants, believed to be an industry first. The solution is made possible by the passage of the SECURE 2.0 Act of 2022 which includes a provision for pension-linked emergency savings accounts that allows non-highly compensated employees to save up to $2,500 toward emergency expenses within their 401(k), 403(b) or govern
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"The in-plan emergency savings accounts, believed to be an industry first, allows retirement savers the ability to directly contribute to emergency savings","length":159,"tagName":"p"},{"type":"text","content":"BALTIMORE, April 22, 2025 /PRNewswire/ -- T. Rowe Price, a global investment management firm and a leader in retirement, today announced the launch of its in-plan emergency savings accounts (ESAs) for retirement plan participants, believed to be an industry first. The solution is made possible by the passage of the SECURE 2.0 Act of 2022 which includes a provision for pension-linked emergency savings accounts that allows non-highly compensated employees to save up to $2,500 toward emergency expenses within their 401(k), 403(b) or governmental 457(b), if permitted by the plan. Once they have reached the $2,500 limit, any additional contributions are automatically converted to non-ESA Roth contributions toward their retirement account.","length":743,"tagName":"p"},{"type":"image","alt":"T. Rowe Price Logo (PRNewsfoto/T. Rowe Price Group)","displaySize":"","headline":null,"caption":"T. Rowe Price Logo (PRNewsfoto/T. Rowe Price Group)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":79,"url":"https://media.zenfs.com/en/prnewswire.com/231b4f42a99131e5fdbe46497fc2e5bd"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/K0zeE3ihHaqrYCFDVKJOsg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEzOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/231b4f42a99131e5fdbe46497fc2e5bd","width":400,"height":79}},"href":"https://mma.prnewswire.com/media/2595125/T_Rowe_Price_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""As a leader in retirement, T. Rowe Price is proud to lead the charge in the industry with its in-plan emergency savings accounts," said Francisco Negrón, head of Retirement Plan Services at T. Rowe Price. "For many, emergency expenses can be a barrier to saving for retirement. ESAs expand our retirement plan offering and can give retirement savers more confidence about handling the unexpected while staying on the path toward a secure retirement."","length":471,"tagName":"p"},{"type":"text","content":"T. Rowe Price recently found that 64% of its 401(k) participants, who responded to a financial wellness questionnaire hosted by the firm, are...