(NewsNation) — A financial expert says he has many “reservations” around the Trump administration’s buyout offer to federal employees because the staffers don’t have enough data or time to make an informed, “irrevocable” life-altering decision.
“We understand what he’s trying to do here, but there’s a way to do it where people can make educated and good long-term decisions in another month or two to get all that data,” Doug Flynn, co-founder of Flynn Zito Capital Management, told NewsNation.
So far, more than 60,000 employees, about 2% of the federal civilian workforce, have accepted the buyout with more expected to join them. It remains unclear how many of the federal government’s 2.3 million civilian workers will ultimately agree to the offer.
Federal employees accepting buyouts ‘rapidly growing’
Millions of U.S. government employees had been facing a Thursday midnight deadline to decide whether to accept a buyout offer from the Trump administration or remain in their position. Those who chose to stay still risked being laid off.
However, a federal judge delayed that deadline until Monday after ruling in favor of several labor unions that had requested a temporary restraining order against the plan spearheaded by Trump adviser Elon Musk.
Flynn said buyouts are presented in the corporate world with much more information and assurances along with ample time so an employee is able to make an informed decision,
When private companies “do that, they lay out everything that you’re going to get, and they’ve run it through all the legal channels, and so you can have it looked at by an employment attorney, but it’s probably already run through as the best deal you’re going to get,” he said. “And they give you more than nine days to make an irrevocable, lifelong decision.”
While it may seem beneficial to some employees who are near retirement, for others, the decision is much harder because they may not be able to secure the same kind of employment again, he added.
“It does make a big difference in these people’s lives in terms of planning.”
NewsNation’s Tom Dempsey contributed to this story.
