Well. It’s been quite a couple of weeks for Feds, hasn’t it?
From the issuance of numerous executive orders calling for a return to in-person work, a hiring freeze, and enhanced accountability across all levels of the federal government to a flurry of emails offering an unprecedented “deferred resignation” deal to representatives from DOGE physically removing sensitive information from government offices and locking out information systems while purportedly under the guidance of a non-elected official, things have been… challenging for Feds lately.
Suffice it to say, recent events have stirred uncertainty among many federal employees, leaving many to question the security of their careers and their own financial future.
So. What can we do?
Gather Information
It is important to ensure that you have access to your official records. To do so, we suggest keeping both a digital AND a physical copy of your Electronic Official Personnel Folder, or, more simply, your eOPF.
Your eOPF essentially contains the history of your entire federal career. It includes various pertinent employment records like performance evaluations, pay information, and other documents. In particular, you want to make sure that you have Leave and Earnings statements and performance reviews for the last FIVE years.
Since downloading the eOPF can take a while, especially if you’ve been a Fed for a long time, it may be smart to prioritize downloading just the LES and performance reviews for the last five years first, but you’ll ultimately want to try to get the whole eOPF if you can.
Here's how to download and save your entire eOPF. You'll need to log into the correct eOPF portal for your agency first:
- Click "My eOPF" tab on the sidebar.
- Click "My eOPF Print Folder" tab at the top.
- Check "Select All".
- Click one of the two print buttons.
- Click "My eOPF Print Status" tab at the top.
- Wait for print request to process (this can take a while if you have a big file). While waiting, read the instructions describing what the password will be for your document and write the password down.
- When it appears, click "View" in the "Action" box.
- Save as PDF.
- Open the PDF in Adobe and enter your password.
- You should now have your entire eOPF in PDF form. Be aware that you'll likely have to rearrange the pages in the PDF if you want to be able to find anything easily in it. Adobe’s system will allow you to create a table of contents to make the file more manageable—there can be a lot of pages for Feds who have a fair amount of longevity.
It’s important that you obtain this information before making any transitions to a new position and/or leaving service. Having your own easily and independently accessible version of these documents could ultimately be an essential part of ensuring that you can secure all benefits to which you are entitled as a Fed.
Get Educated
Right now, it’s crucial for Feds to be educated on their federal benefits. Whether it’s FEHB, your FERS pension, your TSP, or Social Security, having a comprehensive understanding of how your benefits work and how they fit together can help you navigate changes effectively, avoid potential disruptions, and make proactive decisions to secure your future amidst uncertainty.
With that in mind, below are some resources to get started learning more about the terms and options being discussed in the federal space as of late.
Please note: The resources linked below explore each of these concepts assuming a legal basis for their issuance. STWS is not qualified to provide legal advice and therefore cannot offer commentary on the legal basis of the current “deferred resignation” offer.
- Reduction in Force
- VERA (early retirement)
- Deferred Retirement vs. Postponed Retirement
- Breaks in service
Need to learn more about FERS, FEHB, TSP, FEGLI, FLTCI, Survivor Benefits, Social Security, Tax Planning, Estate Planning or Financial Planning for Feds? Check out our complimentary Federal Employee Benefits Webinars by clicking here.
Learn more about your retirement benefits at our No-Cost webinars, featuring Ed Zurndorfer -
Make a Plan
The best way to address uncertainty is to have a plan in place. It is much easier to ascertain how policy changes will impact your retirement plan if you have already built some structure around your retirement planning. That’s where we come in. Whether it’s navigating changing benefits, retirement planning, or securing financial well-being in the face of shifting policy, we can help provide clarity and confidence.
Please don’t hesitate to reach out if you have questions or need further assistance.
Our team understands the unique challenges that federal employees face. We have been standing with Feds for over 40 years, and we want to remind you in this time of uncertainty that we are in your corner— we have always been.
**Written by Katelyn Murray, CFP®, ChFEBC®, FBS®, CFT-1™, ECA. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Katelyn Murray and not necessarily those of RJFS or Raymond James. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy suggested. Every investor’s situation is unique and you should consider your investment goals, risk tolerance, and time horizon before making any investment or financial decision. Prior to making an investment decision, please consult with your financial advisor about your individual situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional. **
