Search
 

Home

Instant Insights / Government Shutdown

The impact of the government shutdown is widespread. Here's what you need to know.

News

Shutdown woes will hit retirement for government employees

Federal employees not only haven't been paid during the shutdown, but they'll also feel the effects down the road in retirement.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
If the shutdown persists for more than 6 months during an employee’s final 3 years of service before retirement, leaving the employee in a nonpay status for that amount of time, it will affect the final amount of retirement pay. (Photo: Shutterstock)

And the hits just keep on coming.

Federal employees who aren’t being paid during the government shutdown, whether because they’re furloughed or because they’re working without pay, will experience not just the immediate challenge of making ends meet without money but also feel the effects down the road in retirement.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.