Federal employees urged to ask key layoff questions

Many federal employees are facing layoffs and early retirements, prompting them to ask important questions about their financial situation. Key inquiries include details about severance pay, benefits, and pension credits during the transition. Employees should also understand their health insurance options, such as the Federal Employees Health Benefits program and Temporary Continuation of Coverage. Private-sector workers may consider COBRA for health insurance, though it can be costly. Reviewing retirement savings options is crucial. Employees can consult financial professionals to navigate tax implications and explore account transfers. Preparing a budget and emergency fund can help manage finances during this uncertain time.