FedImpact: Candid Insights for Your Federal Retirement

ProFeds Founder, Chris Kowalik, makes some observations about what we've learned so far about the original Deferred Resignation offer to help federal employees better navigate this next round of downsizing through the looming Reduction-in-Force (RIF).

KEY TAKEAWAYS:

• Federal employees have felt undervalued and unappreciated
• HR's inability to respond to overwhelming number of inquiries
• Widespread panic and indecisiveness among federal workforce
• Very few extensions and little court delay

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, introduces the Reduction in Force training series that she developed exclusively for federal employees facing a monumental government-wide downsizing. She describes the various types of topics covered in the video series to help as many federal employees be prepared as they go through the RIF process.

KEY TAKEAWAYS:

• Tools available to agencies during a Reduction-in-Force
• Timelines expected for RIF actions
• Importance of knowing your numbers during a downsize
• A guide to the videos available to federal employees

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, reviews the IRS rules which allow you to take from your TSP at various ages (and if you're allowed to access TSP between now and 9/30).

KEY TAKEAWAYS:

• How do employees access TSP after they have separated (resigned or retired)

• How long employees have to wait take withdrawals from TSP

• What penalties may apply to withdrawals prior to age 59 ½

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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, highlights what federal employees need to do to keep their government health insurance (FEHB) and government life insurance (FEGLI).

KEY TAKEAWAYS:

• What requirements must be met to keep FEHB after leaving federal service

• What types of retirement allow FEHB to continue

• What to do if you don't meet these requirements

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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, addresses federal employees who are on the younger side with only a few years of service to see what opportunities may exist with the deferred resignation offer.

KEY TAKEAWAYS:

• Who falls into this category

• What are the consequences of taking this resignation offer

• How are other benefits like FEHB, FEGLI, the Supplement & TSP affected

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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, addresses federal employees who are close to being eligible to retire, but don't meet the requirements for an Early Out (VERA).

KEY TAKEAWAYS:

• Who falls into this category

• What are the consequences of taking this resignation offer

• How are other benefits like FEHB, FEGLI, the Supplement & TSP affected

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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 how the Deferred Resignation applies to federal employees who are already fully-eligible to retire (and what to do if you've already filed for retirement)!

KEY TAKEAWAYS:

• How to know if you are fully-eligible to retire

• What steps need to be taken to accept the resignation offer

• How to change your retirement date to reflect 9/30

• How your pension will change

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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 how the Deferred Resignation applies to federal employees who have met their Minimum Retirement Age, but don't have the years of service necessary to be fully-eligible to retire.

KEY TAKEAWAYS:

• Who qualifies for an MRA+10 retirement

• What effect does this have on your pension

• How can you avoid penalties to your pension

• How are other benefits like FEHB, FEGLI, the Supplement & TSP affected

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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 the new twist added by OPM just days before federal employees decide if they stay or go. This change includes relaxed eligibility standards through the Early Out (VERA) option for those who qualify.

KEY TAKEAWAYS:

• Who qualifies for an Early Out

• How does it change this decision for many people

• What effect does this have on your pension

• How are other benefits like FEHB, FEGLI, the Supplement & TSP affected

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

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, identifies 10 important questions that federal employees should ask of their agency's HR department before they resign.

KEY TAKEAWAYS:

• Documents you need to get

• Actions that need to be taken

• Expectations moving forward

Additional resources:

Link to OPM announcement: OPM.gov/fork

Link to OPM FAQs: OPM.gov/fork/faq

Local workshop locations and dates: FedImpact.com/attend

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