Expert Offers Tips On Facing A Furlough

CENTRAL OHIO—It’s on everyone’s minds. Will I have a job tomorrow?

The unemployment rate continued to rise.

About 70 percent of people polled said a relative or friend has lost his or her job during the last six months.

Forty-seven percent said they were worried about losing their job. The number of people who said the same thing was 28 percent in February 2008.

More companies have turned to temporary layoffs, rather than cut positions.

NBC 4’s Ana Jackson GOT ANSWERS on what you can do if you’re facing a furlough.

Furlough oftentimes means a leave of absence granted to someone in the military.

It also can mean a temporary layoff.

As the economy continues to spiral downward, more companies are resorting to temporary layoffs.

Attorney James Mowery, with Mowery Youell & Galeano, Ltd., said the first thing he would want to see would be something in writing.

Mowery said if you’re laid off, you should ask for a letter or e-mail that explains the terms in detail and when you’re expected to return to the workplace.

“If there’s no guaranteed right of coming back—they’re just saying, ‘It’s our intent to bring you back’—you’re not guaranteed anything. Definitely in that circumstance, you’d want to go apply for unemployment,“ Mowery said.

If you’re dealing with an indefinite furlough, Mowery suggested you find out who will be called back to the workplace first.

If you have a contract, see if the contract provides your employer with the ability to temporarily lay you off.

If the furlough wasn’t company-wide, find out who is being laid off and why.

“You have to be careful that the company’s not engaging in any kind of discrimination in the selection of the people that they choose to layoff,“ Mowery said.

Mowery also suggested finding out whether your health insurance will continue.

If not, ask your human resources department how to exercise your rights under COBRA, which gives you a right to continue insurance during a furlough.

FACING A FURLOUGH
Facing a furlough, you’ll need to stretch every paycheck.

Eric Bishoff with Bishoff Financial Group offered these tips:
- If you cannot make a payment, talk to creditors and landlords about your situation. They might be willing to work with you.
- See if there is a loan provision to borrow funds from your 401K.
- Reduce your 401K contribution. Some plans won’t allow you to increase or restart contributions until open enrollment, though.

For additional information, stay with NBC 4 and refresh nbc4i.com—Where Accuracy Matters.
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