ProFeds Founder, Chris Kowalik, explains the rules surrounding severance pay and who can expect to receive it if they are RIF’ed.

 

KEY TAKEAWAYS:

• Who is eligible to receive severance 
• How to calculate approximate severance amount
• How severance pay is paid out

 

Additional resources:

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

LINK to severance pay calc on OPM: https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay-estimation-worksheet/

LINK to “Basic Pay” definition: https://www.ecfr.gov/current/title-5/part-550/section-550.703#p-550.703(Rate%20of%20basic%20pay)

Local workshop locations and dates: FedImpact.com/attend 

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