FedImpact: Candid Insights for Your Federal Retirement

ProFeds Founder, Chris Kowalik, dives into a popular question about if it is better to quit/resign before being RIF'ed.

KEY TAKEAWAYS:

• What happens if you quit/resign?
• What options employees have if they are already eligible to retire
• What benefits you may give up if you quit/resign

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, discusses various ways employees can "volunteer" for a RIF and what causes them to be eligible to do so.

KEY TAKEAWAYS:

• The best time to volunteer
• What causes someone to be eligible to volunteer
• What an employee can expect to happen to their benefits

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, explores what happens during a RIF for employees who have less than 5 years of federal service.

KEY TAKEAWAYS:

• What happens to the money already paid into FERS
• What happens if you return to federal service after being RIF'ed
• How access to the TSP may be limited

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, explores what happens when an employee is facing a RIF, but doesn't qualify for an early out or a discontinued service retirement.

KEY TAKEAWAYS:

• Requirements to qualify for an Early Out
• Requirements to qualify for a Discontinued Service Retirement
• What an employee may be eligible to receive (such as a cash incentive or severance pay)
• How an employee may qualify for a federal pension later

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

OPM's severance pay worksheet: https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay-estimation-worksheet/

OPM's VSIP eligibility: https://www.opm.gov/policy-data-oversight/workforce-restructuring/voluntary-separation-incentive-payments/

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, reviews how federal employees who are already eligible to retire will be affected by a RIF action.

KEY TAKEAWAYS:

• What it takes to be "fully-eligible" to retire
• What benefits are retained in retirement
• What benefits may be lost in retirement

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, walks through the effect that a RIF will have on an employee's pension based on their length of federal service.

KEY TAKEAWAYS:

• Effect on pension if an employee has less than 5 years of federal service
• Effect on pension if an employee has at least 5 years of federal service
• Effect on pension if an employee is already fully-eligible to retire

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, contrasts the Reduction-in-Force with the recent "Deferred Resignation" offer to help employees understand the stark difference between these two actions.

KEY TAKEAWAYS:

• Voluntary vs. Involuntary action
• Expected differences between the two downsizing actions
• Why some employees chose the deferred resignation instead of waiting for the RIF

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, compares Early Out offers, Cash Incentives, and Discontinued Service Retirements.

KEY TAKEAWAYS:

• Tools available to agencies during a Reduction-in-Force
• Explanation of the various programs and who qualifies
• What benefits employees can receive with each program
• When pure layoffs (with no benefits) are utilized

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, lists 12 things every federal employee should do in light of the pending Reduction-in-Force (RIF) plans in the works from federal agencies. These items will help smooth the transition for employees who may find an abrupt end to their federal service.

KEY TAKEAWAYS:

• Accessing funds to allow for a smooth transition until federal pension begins
• Retaining important documents before you no longer have access to government systems
• Updating your records before you exit federal service

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Download your electronic Official Personnel File (eOPF): FedImpact.com/get-your-eOPF

Update your federal beneficiaries: FedImpact.com/beneficiaries

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet

ProFeds Founder, Chris Kowalik, assesses the inherent risk current facing the federal workforce and how agencies' RIF policies could leave many federal employees looking for work in the near future.

KEY TAKEAWAYS:

• Timelines expected for RIF actions
• RIF procedures and ranking system
• What downsizing tools agencies are likely to use

Additional resources:

Link to full RIF training series: FedImpact.com/RIF-training-series

Link to RIF order: https://www.opm.gov/policy-data-oversight/workforce-restructuring/reductions-in-force-rif/#url=Summary

Local workshop locations and dates: FedImpact.com/attend

To be introduced to a local financial professional: FedImpact.com/request-to-meet