With many federal employees still reeling from mass layoffs, legal challenges, and job insecurity, it’s important to be prepared.
Download Important Documents
eOPF – You lose access to your electronic Official Personnel File when you separate from service, so make sure that you save a copy while you still can.
Training/Certification History – Whether to bolster your resume when job hunting in the private sector or returning to civil service at a future date, it’s important to have a record of all training and or certifications you completed during your time as a federal employee.
Pay Records – Your pension, if eligible, is based on your “high-3” average salary. Since the last three years of employment generally reflect your highest years of earning, it’s advisable to download three years of payment records to verify your pension is being calculated correctly.
Update Login/Contact Information
After separation, you’ll no longer be able to access your government-issued email address. Consider transitioning some of your login and contact information to your personal email. Two-factor authentication may be required for some accounts and if they send a code to your government-issued email, you won’t be able to retrieve that information. Keep in mind that your co-workers are likely to be affected by layoffs, so if you want to stay in touch, network, or list them as a reference, you need to be sure you have their personal contact information.
Financial Preparation
Unused annual leave is paid out in a lump sum when you leave federal service, it might be worth forgoing a vacation to have that cash payout.
Familiarize yourself with your TSP options following layoffs or separation, if money is tight, there is a penalty-free withdrawal option that could provide a monthly boost.
Unless you are planning on a deferred retirement, you can also request a refund of your FERS contributions. If you are rehired down the road you will need to make a redeposit to get credit for that time in your annuity calculation.
A deposit to capture military service must be made before separation, since it can be a lengthy process, the sooner you start, the better.
If you qualify for retirement – through VERA or Discontinued Service – get an estimate of your monthly annuity and your retirement annuity supplement.
There’s no one-size-fits-all strategy when preparing for the future, and it’s never too early to start planning. A Federal Retirement Consultant® can ensure you’re optimizing your federal benefits and help put you on the path toward a financially secure retirement.
