Federal Government Shutdowns ("Shutdowns"), once incomprehensible, have become the “new normal”. Over 3.5 million federal employees are currently at risk of a Shutdown and the devastating effects of delayed paychecks. The last Shutdown was the longest and most damaging in U.S. history, with over 800,000 federal workers missing paychecks worth a combined $5.6 billion.

Today:
• 64% of federal workers don’t have savings to cover even two weeks of expenses,
• 40% of Americans can’t afford an unexpected expense of $400, and
• 78% of U.S. workers live paycheck-to-paycheck.

So, it’s not surprising a January 2019 study by The Prudential shows the last Shutdown had a devastating impact on furloughed workers. Hard-working Americans forced to deplete retirement savings, fall behind on bills, seek assistance from food banks, reduce health care spending and borrow money from payday lenders at rates in excess of 400%.

In response, financial institutions, nonprofits and other busin...
Federal Government Shutdowns ("Shutdowns"), once incomprehensible, have become the “new normal”. Over 3.5 million federal employees are currently at risk of a Shutdown and the devastating effects of delayed paychecks. The last Shutdown was the longest and most damaging in U.S. history, with over 800,000 federal workers missing paychecks worth a combined $5.6 billion.

Today:
• 64% of federal workers don’t have savings to cover even two weeks of expenses,
• 40% of Americans can’t afford an unexpected expense of $400, and
• 78% of U.S. workers live paycheck-to-paycheck.

So, it’s not surprising a January 2019 study by The Prudential shows the last Shutdown had a devastating impact on furloughed workers. Hard-working Americans forced to deplete retirement savings, fall behind on bills, seek assistance from food banks, reduce health care spending and borrow money from payday lenders at rates in excess of 400%.

In response, financial institutions, nonprofits and other businesses offer furlough freebies, shutdown specials, payment grace periods, fee waivers and other assistance to furloughed employees. While these and other programs provide much needed assistance to these workers, none meet their needs and none make them whole.

An August 2019 Pollfish.com survey of federal employees indicates:
• 69.3% are concerned about future shutdowns, and
• 89.9% of workers furloughed during the last Shutdown rated their hardship as significant
• 59.4% of federal workers are willing to pay for comprehensive payroll "replacement" protection in the event of a Shutdown.

Federal Holdings Corporation ("FHC") offers an innovative program guaranteeing federal employees (and no federal worker can be denied) need never miss another paycheck due to a Shutdown. The Payroll Assurance Plan (the "Plan") provides below-market rate loans (typically Prime less 1 to 2%) to replace missed worker take-home pay, all for less than 10 cents a day.

For Plan members ("Members") there’s no additional paperwork, no need to apply and no need even to notify FHC. In the event of a Shutdown, funds (about 99.7% of normal take-home pay) are automatically deposited into Member accounts immediately after "each" missed pay date. And this protection continues throughout the duration of the Shutdown. Once the Shutdown ends, Member backpay is transferred directly to FHC, thereby satisfying the financial obligations of Members. In other words, there is NO Plan-related debt outstanding after Shutdown’s end.
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Advisors

Sharad Samy
Admin
Sharad Samy
Nik Mathews
Admin
Nik Mathews

Employees

Gregg Whittaker
Admin
Gregg Whittaker CEO Experienced entrepreneur, private equity manager, Econ/Finance PhD and former Chase Securities (JPMorganChase) MD and global department head

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I have known Gregg for 20+ years and think very highly of him and the work he does. He has been a mentor to me throughout the years, believe he has a great entrepreneurial mind, and fully expect Federal Holdings Corporation to do great things.