Perspectives for Federal employees navigating current or potential career transitions

During its first weeks, the Trump administration issued a number of directives concerning the federal workforce. Some of these directives have affected the employment situation of individuals, including the Fork in the Road program, resulting in layoffs or buyouts, with some directives being challenged in court.

What should I consider if I am impacted?

For those impacted by these directives, we understand that this is can be a difficult situation. If your employment is affected, the following items may help you as you navigate this process.

• Understand Separation Terms: Review the details of any separation package, including severance pay, health insurance coverage, and other benefits specific to federal employees.
• Review your Finances and Budget, and Prioritize Spending: Take time to review your budget, emergency cash, and other potential income sources. This could help you determine how you might navigate the buyout and changes income, whether you are entering into retirement or remaining in the workforce.
• Understand Retirement Plan and Insurance Options: Maintaining health care coverage should be a top priority, so review your options for maintaining health care coverage (potentially leveraging the Temporary Continuation of Coverage from your Federal Employee Health Benefits). In addition, take time to understand your options for your Thrift Savings Plan (TSP), as well as your Federal Employees' Group Life Insurance (FEGLI). More information on these programs can be found on the OPM website or your federal agency's human resources office.
• Conduct Networking and Job Search: If you will be looking for continued employment, update resumes, network within federal and private sectors, and seek support from personal and professional contacts.

For more details on steps to take when facing a job loss, please refer to our Job Loss Checklist.

We are here to help

While these decisions can be very personal, our financial advisors are here to walk alongside you. Importantly, our financial advisors have resources and tools to help you understand items such as:

• How your financial goals may be affected depending on the impact of these directives.
• What additional steps you should consider.
• What options you may have for your retirement plan.

If you do not have an Edward Jones financial advisor, click here to get started.