FedImpact: Candid Insights for Your Federal Retirement

ProFeds Founder, Chris Kowalik, reviews the rules for getting the FERS Special Retirement Supplement for employees who are RIF'ed.   

KEY TAKEAWAYS:

• Explanation of the FERS Supplement
• Who gets the FERS Supplement?
• When do payments begin?

Additional resources:

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

ProFeds Founder, Chris Kowalik, explains the pension calculation that employees can expect if they are RIF'ed.   

KEY TAKEAWAYS:

• The pension formula
• The challenge of including military service
• The high-3 average (and potential change to the "high-5")

Additional resources:

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

ProFeds Founder, Chris Kowalik, discusses what happens if an employee wishes to return to federal service after being RIF'ed.

KEY TAKEAWAYS:

• What processes are in place to facilitate a return to service
• How to return to federal service if you have already retired
• How to return to federal service if you left with no pension (or one that pays out later)

...

ProFeds Founder, Chris Kowalik, helps federal employees understand what happens to their unused annual leave and sick leave if they are RIF'ed.

KEY TAKEAWAYS:

• Rules for annual leave payout
• Rules for use of sick leave 
• What to do to not lose any leave 

Additional resources:

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

ProFeds Founder, Chris Kowalik, discusses the opportunity for many federal employees to collect unemployment if they lose their job due to the Reduction-in-Force.  

KEY TAKEAWAYS:

• Who may qualify (and doesn't qualify) for unemployment
• Where employees go to file for unemployment
• How unemployment benefits may be affected by other payments received

ProFeds Founder, Chris Kowalik, reviews the possibility of cash payments being offered to federal employees as part of the RIF plan.  

KEY TAKEAWAYS:

• Rules of the Voluntary Separation Incentive Payment (VSIP)
• How much are the incentives (and proposals for the amount to change)
• How VSIPs work with other downsizing tools (like VERAs)
• Who is not a...

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.c...

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 tra...

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 trai...

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 ...

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 severa...

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 s...

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-el...

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 ...

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
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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

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