Fresno financial advisor reacts to Trump’s federal buyout deadline delay

FRESNO, Calif. (KGPE/KSEE) – President Donald Trump’s federal worker buyout offer has been temporarily put on hold by a federal judge.

More than two million federal employees had faced a midnight Thursday deadline to accept the Trump Administration’s deferred resignation offer. 

So far, more than 40,000 workers have accepted the offer, well short of the administrations reduction target.

“These federal workers are really kind of a difficult position because their future is really uncertain and pretty well out of their control,” Ford Financial Group Financial Advisor Brian Ullmann said. 

The buyout offer, which is part of Elon Musk’s effort to downsize and reshape the federal government, promises employees eight months of pay in exchange for leaving the federal workforce. 

Ullmann said some of his clients are taking a ‘wait and see’ approach.

“The administration is moving quickly and trying to take some dramatic steps for the sake of efficiency. And this certainly may work, but people are getting caught in the middle of this,” Ullmann said. 

Workers who take the buyout option would not have to show up to work and are free to get another job, but federal worker unions are urging employees to not take the buyout offers. They say the offer may not be legal and are alleging that the administration failed to consider the consequences of mass resignations and cannot guarantee the plan will be funded.

“You think you’ve had, you’ve done a good job, and this is how you want to retire. And then all of a sudden you, you see an attempt to have the rug pulled out from under you. I mean why?” Fresno Democrat Jim Costa said.

Costa agreed with the judge’s decision to push back the deadline.

“They’re looking at their own financial situation or wanting to maintain their own abilities for their family, it makes no sense. So, the judge made the right decision,” Costa said.

Ullmann said if your employment status is uncertain, start planning ahead. 

“Constantly remind everybody to have emergency savings, three to six months of emergency savings. Nobody woke up on Jan. 1 thinking that this was going to happen,” Ullmann said. 

On Monday, the judge will consider arguments by employee unions and by a lawyer from the Trump administration defending the plan.