Shutdown Furlough Employee Assistance Resources (See chra.army.mil/hr/tools/gps/view.asp?ID=766) 1. Thrift Savings Plan (tsp.gov) a. Decrease or terminate TSP (implications for time savings) b. Apply for TSP General Loan, generally 30 day approval – current interest rate c. If you have a current TSP loan, amortize to decrease your payments during furlough period 2. Tax Withholdings – Decrease your tax withholdings by increasing the number of federal and state tax exemptions. (tax implications – see irs.gov) 3. Financial Assistance a. Work directly with creditors to ask for reprieve or reduction on payments during furlough period b. Federal savings, bank, and credit union institutions are offering relief during furlough c. Army Community Service Financial Counselors (see myarmyonesource/default.aspx) d. Employee Assistance Program Financial Training (see archive.opm.gov/employment_and_benefits/worklife/healthwellness/eap/) 4. Unemployment Compensation (see workforcesecurity.doleta.gov/unemploy/unemcomp.asp.) a. Eligibility is determined by state b. Army civilian employees who wish to apply for unemployment compensation benefits need to have the following information available: i. Standard Form (SF) 50 placing the employee on furlough ii. Leave and Earnings Statement(s) showing wage loss iii. Standard Form (SF) 8 chra.army.mil/hr/tools/gps/view.asp?ID=766
Posted on: Thu, 03 Oct 2013 19:58:00 +0000
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