Should Plan Sponsors Adopt Pension-Linked Emergency Savings Accounts (PLESAs)?

Pension-linked emergency savings accounts (PLESAs) are a new option available for use in any defined-contribution plan. They originated with the SECURE Act 2.0 and were recently clarified by releases made by the Department of Labor and Internal Revenue Service. They present administrative challenges for plan sponsors in exchange for access to an emergency savings account linked to the retirement plan for plan participants. [ABSTRACT FROM AUTHOR]