The Trump administration has once again extended the federal hiring freeze, this time until October 15th. This move, aimed at reducing the size of the federal workforce, has created uncertainty and anxiety for many federal employees and their families. While the freeze is in effect, with few exceptions, agencies are barred from filling vacant positions or creating new ones. This means that for many, career advancement and job security have been put on hold.
The administration has made it clear that a primary goal is to reduce the federal workforce through attrition. This means that as employees retire or leave their positions, they are not being replaced. The recent announcement by the Department of Veterans Affairs to cut nearly 30,000 jobs through attrition, early retirement, and deferred resignations is a clear example of this strategy in action.
While a large-scale reduction in force (RIF) has been avoided for now, the reality is that the federal workforce is shrinking. This “soft” RIF through attrition can be just as damaging to morale and can leave remaining employees with increased workloads and diminished resources.
What Does This Mean for You?
If you are a federal employee, you may be feeling a sense of unease about your future. You may be wondering:
- Is my job secure?
- What will happen to my retirement benefits?
- How can I protect my family’s financial future?
These are all valid concerns. In times of uncertainty, it’s more important than ever to be proactive and take control of your financial well-being. This is where a company like Internal Benefit Advisors can help.
Take Control with Internal Benefit Advisors
Internal Benefit Advisors specializes in helping federal and state employees navigate the complexities of their benefits and plan for a secure retirement. Their team of experts can provide you with personalized guidance on:
- Retirement Planning: Understand your FERS or CSRS benefits and create a retirement plan that meets your goals.
- Life Insurance: Ensure your family is protected with the right life insurance coverage.
- IRA and TSP Rollovers: Make the most of your retirement savings by exploring all of your options.
- Benefit Maximization: Learn how to get the most out of your federal benefits package.
The current hiring freeze is a stark reminder that your financial future is in your hands. Don’t wait for the situation to worsen. Take proactive steps today to protect yourself and your family. Contact Internal Benefit Advisors for a consultation and gain the peace of mind that comes with knowing you have a solid financial plan in place.
References
- FEDweek. “Trump Extends General Hiring Freeze to Oct. 15, Stresses Compliance with New Hiring Policies.” Retrieved from https://www.fedweek.com/fedweek/trump-extends-general-hiring-freeze-to-oct-15-stresses-compliance-with-new-hiring-policies/
- Internal Benefit Advisors. “Services.” Retrieved from https://internalbenefitadvisors.com
