Sunny Day Fund
Emergency savings is the #1 financial resolution for 2023 and now a market expectation with the passage of Secure Act 2.0. That’s why Sunny Day Fund has developed an award-winning workplace emergency savings program for people-centric businesses. By automating and rewarding employees' savings behavior, Sunny Day Fund drives better financial health and employee retention while protecting retirement assets from emergencies.
Emergency savings is the #1 financial resolution for 2023 and now a market expectation with the passage of Secure Act 2.0. That’s why Sunny Day Fund has developed an award-winning workplace emergency savings program for people-centric businesses. By automating and rewarding employees' savings behavior, Sunny Day Fund drives better financial health and employee retention while protecting retirement assets from emergencies.
Key results include:
• ~50% voluntary participation • Up to 25% higher employee retention
• ~$1,700 in annualized savings per employee • Fewer 401(k) loans and early withdrawals
Sunny Day Fund’s clients come from healthcare, senior living, manufacturing, quick service restaurants, hospitality, non-profit, grocery, and government services – in general, employers with low- and middleincome workforces. Sunny Day Fund works with employers of all sizes, with an emphasis on mid-market and enterprise-level relationships.
The total cost of Sunny Day Fund’s program, including employer contributions and license fees, is typically $200-$300 per enrolled employee per year.
Emergency Savings Program Details:
As one client says, “this isn’t just an account, it’s an experience!” That’s because Sunny Day Fund makes saving for emergencies simple, accessible, and rewarding for both employers and employees.
Simple Administration, Effective Marketing:
• Payroll-deducted emergency savings with complete logging • Out-of-plan / outside of ERISA (no fiduciary bond or form 5500) • Payroll / HR system agnostic, integrated via API, SFTP, or Managed Services • Multi-channel marketing campaigns that drive trust and participation • SOC 2 Type 2 Certified – 256-bit end-to-end encryption • Aggregated, anonymized data analytics Trusted, Accessible Banking: • Demand deposit account, not custodial • Customizable employer rewards and contributions – behavioral science-based approach to 401(k) matches • 2.12% interest rate as of Jan 2023 • No soft or hard credit checks for accounts • No minimums, no penalties, no restrictions • Withdraw via ACH or Personal Check – faster than 401(k) loans • Portable – goes with the employee after termination • Customer support line Intuitive, Rewarding UX: • Mobile-accessible web application – digitally inclusive • Available in Spanish
and other languages • Goal-based experience means more savings – in addition to saving for an
emergency, employees save for other immediate goals like a car, a security deposit, holiday gifts, or starting a family • Embedded with behavioral economics principles • Additional financial literacy content
About the Team:
Sunny Day Fund is a minority-owned business based in the DC metropolitan area, with a mission to achieve financial well-being and equity for all hardworking Americans, starting with emergency savings for all. In doing so, Sunny Day Fund will also contribute to a more financially inclusive and equitable workplace. As featured in: SHRM, WSJ, Forbes + more.
Contact Sunny Day Fund:
Email: contact@sunnydayfund.com
Phone: +1 (571) 470-5862
Website: https://www.sunnydayfund.com