ProFeds Founder, Chris Kowalik, reviews the IRS rules which allow federal employees to take from their TSP at various ages if they are RIF'ed.

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 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, sheds light on what military veterans should know if they are going through a RIF process.

KEY TAKEAWAYS:

• Ensuring your veterans preference is in your service record
• Process of buying back your military service
• Retaining a receipt of your military buyback

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

Webinar replay: Breaking Down the Military Service Buyback : https://fedimpact.com/webinar/replay-breaking-down-the-military-service-buyback/

ProFeds Founder, Chris Kowalik, explores the rules for keeping various government insurance programs such as health (FEHB), life (FEGLI), dental and vision (FEDVIP), and long term care (FLTCIP).).

KEY TAKEAWAYS:

• Rules for being able to keep various federal benefits
• Timelines for changes to take place
• How the cost can change for each benefit

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

FEGLI Handbook citing 5-year rule: https://www.opm.gov/healthcare-insurance/life-insurance/reference-materials/publications-forms/feglihandbook.pdf#page=114

FEHB Waiver Policy: https://www.opm.gov/healthcare-insurance/healthcare/reference-materials/reference/annuitants/#current

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-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, 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-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 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)

Additional resources:

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

OPM's Severance Pay Fact Sheet: https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay/

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, 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-training-series

Sick Leave Conversion chart: FedImpact.com/2087-chart

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 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

Additional resources:

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

USA.gov Unemployment Benefits Guide: https://www.usa.gov/unemployment-benefits

U.S. Dept of Labor Unemployment: https://www.dol.gov/general/topic/unemployment-insurance

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 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 allowed to receive a VSIP buyout

Additional resources:

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

OPM's guide to VSIPs: https://www.opm.gov/policy-data-oversight/workforce-restructuring/voluntary-separation-incentive-payments/guide.pdf

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, 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

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