Next Wave Of Federal Layoffs- What to Expect From Trump’s Plan The Trump administration has initiated significant federal workforce reductions across various agencies, aiming to streamline government operations and reduce spending. Here’s an overview of the recent and upcoming layoffs: Department of Education Nearly 50% of the Department’s workforce, approximately 1,300 employees, have been laid […]
Will Federal Retirement Benefits Be Affected During Government Downsizing? During periods of government downsizing, federal retirement benefits, such as those under the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS), are generally safeguarded. These benefits are funded through dedicated trust funds, ensuring that current retirees continue to receive their annuities without […]
The Trump administration has implemented numerous executive orders, imposed tariffs, and has implemented mass layoffs of federal employees. This causes uncertainty and government job cuts could dampen consumer confidence and spending. What does that mean for the long-term? Please click on link to listen to a brief video from ASSSETMARK CIO, Christian Chan. 2-Minute CIO […]
Social Security Administration Announces Staff Downsizing Plans The Social Security Administration announced Friday its plan to cut at least 7,000 employees from the agency and to close multiple regional offices to comply with recent executive orders from President Donald Trump. The SSA recently set a staffing target of 50,000, down from its current level of […]
What is the Current Status of Trump’s ‘Buyout’ Plan? President Trump’s initiative to downsize the federal workforce through buyout offers has encountered significant challenges, leading to unintended consequences. The administration proposed that federal employees resign by February 6, 2025, in exchange for full pay and benefits through September 30, aiming to reduce government spending and […]