Advertise on podcast: FedImpact: Candid Insights for Your Federal Retirement

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  

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