Meet Sunny Day Fund

  1. The employer establishes Sunny Day Fund in their organization, offering emergency savings as a benefit to their employees.
  2. Sunny Day Fund integrates with the employer’s payroll system to set up post-tax deductions for each individual employee.
  3. Those deductions are then sent to each employee’s brand new, standalone FDIC-insured savings account opened with one of Sunny Day Fund’s banking partners.
  4. Sunny Day Fund then automates all contributions from both the employer and employee: no decisions necessary, the savings contributions come straight out of the employee’s paycheck. And the rewards come quarterly.
  5. Employees may also set aside savings for numerous personal savings goals, (e.g. holiday gift funds, vacation savings). Sunny Day does mandate, however, that employees save towards an emergency savings fund goal with a target of $2K.
  6. Employees may withdraw at any time and without penalty; however, behavioral mechanisms like mental accounting and loss aversion help encourage employees to keep saving.



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