How to Cope With Job Uncertainty Now

Growing up in rural Virginia, I watched apprehensively as hawks circled overhead. As their sharp eyes locked onto unsuspecting prey, I prayed I wouldn't become a target in their hunt as I frolicked in the woods.

I never imagined that the same sense of unease would surface in the workplace, certainly not federal government agencies supposedly protected by law from partisan politics.

While I experienced the misery of being harassed as a former private sector and federal employee — and escaped by becoming a business owner — federal employees find themselves subject to an extraordinary number of executive orders that devalue their work, disregard their well-being and threaten their job security, workplace protections and financial stability.

With their livelihoods hanging in the balance, many federal workers are seeking help from their financial advisers.

"The concerns that we're hearing from our federal employee clients include the job uncertainty that comes with being placed on paid leave, the pressure to speed up their retirement dates, and the so-called buyout that only would make sense to consider if you had already planned to retire before September 30, 2025, when the government's fiscal year ends," said Nicolas "Nick" Abrams, president and CEO of Opulentia, a financial advisory firm.

Abrams aims to prevent federal employees, who represent one-third of his clients, from making snap decisions that may jeopardize their financial futures.

"We help our clients take a look at their numbers to see if early retirement is a possibility. We also encourage them to be realistic about their lifestyle to make sure their numbers work," said Abrams, a Certified Financial Planner. "For some, our conversations tilt toward imagining a second phase of their work life, which can feel overwhelming after serving over 25 years as a federal employee."

Civil servants are having to cope with the rapid pace of change in federal personnel practices, such as reclassifying jobs to remove civil service protections, virtually eliminating entire agencies and being asked to spy on their coworkers.

"It will be challenging for clients to return to federal workplaces filled with employment uncertainty and rumors of surveillance culture," stated Abrams. "Also, many clients are forced to return to an office that no longer physically exists due to the downsized portfolio of governmental office spaces. It's quite a chaotic time for them."

With the new administration seeking access to personnel and salary records, it is imperative that federal employees proactively secure critical employment documentation, particularly documents tied to the Office of Budget and Personnel Management (OPM) and U.S. Treasury. These documents below serve as proof of service, pay history, benefits eligibility and employment rights:

• eOPF (Electronic Official Personnel File) & SF-50 Forms
  
  The eOPF (Electronic Official Personnel File) contains all personnel records for federal employees. The SF-50 (Notification of Personnel Action) is a key form within the eOPF that documents promotions, pay adjustments, position changes and separations. These documents verify employment history and are crucial for retirement, unemployment benefits and legal claims.

• Internal Revenue Service (IRS) W-2 Forms — Wage and Tax Statement
  
  W-2 forms show taxable income, federal and state tax withholdings and Social Security and Medicare contributions for each tax year.

• LES (Leave and Earnings Statement)
  
  LES is a pay stub for federal employees detailing salary, deductions, retirement contributions and leave balances.

• Federal Retirement Records and Thrift Savings Plan (TSP) Statements
  
  Federal retirement records capture pertinent retirement benefits and balances in several plans available to government workers: the Federal Employees Retirement System (FERS) pension, the Civil Service Retirement System (CSRS) pension administered through OPM and the Thrift Savings Plan, a 401(k) equivalent for civil servants and managed by the Federal Retirement Thrift Investment Board (FRTIB).

• Social Security Statement
  
  Details your wage history and provides an estimate of future Social Security benefits, including retirement income, disability and survivor benefits. Download your statement from the Social Security Administration.

• Health & Life Insurance (FEHB & FEGLI) Records
  
  Federal Employees Health Benefits (FEHB) and Federal Employees' Group Life Insurance (FEGLI) documents outline coverage, premiums and beneficiaries.

• Performance Reviews & Evaluations
  
  Annual or periodic performance reviews document employees' job duties, ratings, accomplishments and potential for promotion. They can be helpful in contesting wrongful terminations, negotiating pay raises and securing future employment opportunities.

• Union Membership Records (if applicable)
  
  Union records include membership status, dues payment history, grievance filings and legal assistance requests. These records provide legal protection in case of wrongful termination, reclassification or disputes over workplace conditions.

• Security Clearance and Training Certificates (if applicable)
  
  Security clearance records, training certifications and agency credentials are necessary for job applications in federal or contractor roles that require prior clearance or specialized training. Download and store clearance verification letters and training completion certificates.

Abrams has partnered with agencies to conduct workshops to educate federal employees on their financial options during the Trump administration's hurried campaign to slash the federal workforce. "We encourage attendees to sit down and work with a trusted advisor to sort through their finances and options to make informed decisions under this employment duress," he said.

Preparation is key, as downsizing, restructuring and political interference continue to threaten federal employees. By understanding financial options and implications, securing essential documents and seeking expert guidance, federal employees can protect their futures and push back against the erosion of workplace protections.

Lazetta Rainey Braxton, CFP, is the founder and Managing Principal of The Real Wealth Coterie, a virtual financial planning and wealth management firm, and the founder and CEO of Lazetta & Associates, a consulting and coaching firm in New York. She shows clients how to align their net worth and budgets with their vision and values and achieve sustainable wealth. Crain's New York Business named her a Notable Black Leader and Executive. Investopedia said she was one of the Top 10 of its 100 Top Financial Advisors for three consecutive years. In all endeavors, her goal is to create wealth for the common good.
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