[Reduction in Force] Part 13: Will I Get Severance Pay and How is it Calculated?
ProFeds Founder, Chris Kowalik, explains the rules surrounding severance pay and who can expect to receive it if they are RIF’ed.
KEY TAKEAWAYS:
- Who is eligible to receive severance
- How to calculate approximate severance amount
- How severance pay is paid out
Additional resources:
Link to full RIF training series: FedImpact.com/RIF-training-series
LINK to severance pay calc on OPM: https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay-estimation-worksheet/
LINK to “Basic Pay” definition: https://www.ecfr.gov/current/title-5/part-550/section-550.703#p-550.703(Rate%20of%20basic%20pay)
Local workshop locations and dates: FedImpact.com/attend
To be introduced to a local financial professional: FedImpact.com/request-to-meet