Resources for Federal Workers as the Government Shuts Down

Federal workers have faced numerous challenges this year, and the government shutdown offers a new layer of uncertainty. As furloughed federal workers navigate their finances while Congress figures a way forward to fund the federal government and potential reductions in force loom, CFP Board is here to help. CFP Board has developed financial planning resources for federal workers impacted by reductions in the federal workforce and for CFP® professionals who serve them at www.cfp.net/fedworkers.

Resources include:

• A CFP Board webinar — Managing Your Finances in Uncertain Times: Resources for Federal Government Employees — that provides federal workers with tools to make the best financial decisions when separating from service and to manage financial uncertainty while furloughed, including:
• Techniques for surviving without a paycheck, the appropriate use of debt and understanding the Federal Employees Retirement System (FERS).
• What happens to your health insurance, life insurance and other benefits if you lose your job or retire.
• How to avoid missteps with retirement decisions, including claiming Social Security or withdrawing from your Thrift Savings Plan (TSP).
• A list of CERTIFIED FINANCIAL PLANNER® professionals who have agreed to provide financial planning services to impacted federal government workers pro bono or at a reduced hourly rate (up to $250 per hour). Financial planning services will be arranged directly between the CFP® professionals and federal government worker clients, and not through CFP Board.
• A CFP Board webinar — Advising Federal Government Employees During These Uncertain Times — that explains how CFP® professionals can help federal employees make the best decisions about federal benefits programs during separation. This webinar was co-hosted by the Foundation for Financial Planning.