Episode Introduction - The Gap with Rachel Fox

Today’s conversation is one I am really excited about, because it goes straight to the heart of what The Gap is all about—not just saving for retirement someday, but helping working Americans stay financially stable today so they can actually get there.

I’m thrilled to welcome Rachel Fox to the podcast.

Rachel is a seasoned leader in the employee benefits space with more than 23 years of experience helping employers support their workforce in meaningful, practical ways. For the past four years, she has led sales and partnerships at Sunny Day Fund, an out-of-plan Emergency Savings Account—or ESA—provider that helps employers turn financial wellness from a concept into something employees can actually use when life happens.

Before joining Sunny Day Fund, Rachel spent nearly two decades running her own Aflac agency, where she consistently ranked among the top five district sales coordinators nationally—an achievement that speaks volumes about her leadership, her ability to build strong teams, and her deep understanding of what employees really need from their benefits. She also worked as a health broker, guiding employers through an increasingly complex benefits landscape and helping them make smart, people-focused decisions.

What I love about Rachel—and what you’ll hear loud and clear today—is her passion. She truly believes that emergency savings are a missing link in closing both the financial stress gap and the retirement savings gap. Because when employees don’t have a cushion for unexpected expenses, retirement savings is often the first thing to suffer.

Episode Description

A stronger retirement starts with steadier today money. That’s the core of our conversation with Rachel Fox, a veteran benefits leader who’s helping employers turn “financial wellness” into a real system: automated emergency savings that keep workers from raiding their 401(k)s when life hits. We dig into the data behind out-of-plan ESAs, why they reduce loans and hardships, and how smart design—balance-based incentives, payroll automation, and clear, inclusive communication—builds a durable first line of defense.

Rachel traces the human stories behind the metrics: employees one event away from catastrophe, HR teams overwhelmed by loan requests, and the relief that comes when a car repair or deposit is covered without penalties or taxes. She explains why ESAs act as an on-ramp to retirement, increasing participation and contributions by making long-term saving feel possible. We also unpack the limits of PLESAs under SECURE 2.0 and why employers prefer out-of-plan flexibility that avoids ERISA complexity and allows meaningful employer contributions.

Beyond the ledger, we connect financial stress to safety, focus, and retention. Rachel highlights a study of short-haul truckers showing an 87% drop in citations among ESA participants and shares how employers repurpose bonuses and underused budgets into savings multipliers. The takeaway is practical and hopeful: lead with systems, not lectures; make saving effortless; and let people save for both emergencies and aspirations so behavior sticks.

If you care about reducing 401(k) leakage, improving benefits ROI, and helping workers move from survival to stability to growth, this conversation maps the path. Subscribe, share with a colleague who owns benefits strategy, and leave a review with one change you’d make to your company’s savings design.

Guest Bio: Rachel Fox

Rachel Fox is a leader in the employee benefits space with 23 years of experience. For the past four years, she has led sales and partnerships at Sunny Day Fund, an out-of-plan Emergency Savings Account (ESA) provider that operationalizes financial wellness initiatives for workforces. Before joining Sunny Day Fund, Rachel spent nearly two decades running her own Aflac agency, where she consistently r

What if the secret to building a truly successful retirement plan wasn’t about plan features at all—but about culture, intention, and the belief that employees deserve more than the bare minimum? In this episode of The Gap, host Shannon Edwards sits down with Nathan Helms, Controller at Balon Corporation, to explore what happens when a company decides that taking care of people is non-negotiable. With over sixty years of employee-first leadership behind them, Balon has created a retirement plan that has grown from 165 participants to more than 1,100—and Nathan shares firsthand how that transformation was built from the inside out.

Whether you're an employer, advisor, or benefits manager, this conversation gives you an inspiring, practical look at what it means to create real retirement readiness for real people. You’ll hear how intentional design, thoughtful communication, and a deep respect for a diverse workforce can change not only participation rates, but lives. This episode will challenge you, motivate you, and remind you exactly why your role in closing the retirement savings gap matters more than ever. Tune in—because this is what it looks like when an employer gets it right.

In this episode, Shannon and Nathan Helms discuss:

• Strategic plan design decisions that drive long-term employee retirement readiness
• Approaches employers use to boost participation and keep employees engaged
• Communication challenges in supporting diverse and multilingual workforces
• Policy and compliance barriers that impact employers’ ability to strengthen retirement benefits

Key Takeaways:

• Implementing automatic enrollment alongside consistent, in-person education sessions significantly increases participation and helps employees understand how to build long-term financial security.
• Designing a plan that combines open-architecture investments, a supportive match structure, and thoughtful guardrails reduces leakage, encourages higher contribution rates, and protects employees from self-sabotage.
• Providing multilingual materials and trusted, in-house translators ensures employees from diverse backgrounds fully understand the plan, leading to stronger engagement and remarkable individual success stories.
• Simplifying compliance correction processes and increasing safe harbor match flexibility would empower more employers to offer meaningful retirement benefits without being overwhelmed by regulatory complexity.

"Do right by the employee, and they’ll do right by you. You’ll see a lot of success." — Nathan Helms

Connect with Nathan Helms:

Website: https://www.balo

What if helping your employees achieve true retirement security came down to communication, clarity, and the courage to simplify? In this episode of The Gap, Shannon Edwards sits down with Marjorie Mann, Senior Counsel at NextEra Energy and current President of the American Retirement Association, for a candid conversation about what’s really working—and what still needs fixing—in America’s private retirement system. With decades of hands-on experience guiding one of the nation’s largest employers through complex plan design, compliance, and fiduciary oversight, Marjorie brings a unique, sponsor-side perspective that every advisor, benefits manager, and business owner can learn from.

If you’ve ever wondered how leading employers are navigating SECURE 2.0, boosting participation, and keeping employees engaged in their financial future, this episode will give you a front-row view. You’ll walk away with a deeper understanding of how policy meets practice—and what steps you can take to help your organization close the retirement savings gap once and for all. Because when employers lead with clarity and purpose, everyone wins.

In this episode, Shannon and Marjorie Mann discuss:

• Evolving responsibilities of employers in strengthening retirement readiness
• Communication challenges in engaging diverse employee populations
• Legislative and regulatory changes shaping plan design and administration
• Collaboration across the retirement industry to drive education and innovation

Key Takeaways:

• Implementing automatic enrollment and simplified investment options, such as target-date funds, can significantly increase participation and improve long-term retirement outcomes for employees.
• Clear, consistent, and targeted communication across different employee demographics helps build trust, increase plan engagement, and prevent confusion about benefits.
• Reducing legislative and regulatory complexity is essential to encourage more small and midsize employers to adopt and maintain retirement plans.
• Collaboration between plan sponsors, advisors, and industry associations fosters shared learning, stronger advocacy, and better tools to close both the coverage and savings gaps.

"Communication is what’s really important; if you become a trusted voice with employees, that goes a long way toward helping them recognize the opportunities that they have." — Marjorie Mann

Connect with Marjorie Mann:

LinkedIn: https://www.linkedin.com/in/marjorie-mann-26803b1/

Connect with Sh