By Megan Sayles
AFRO Staff Writer
msayles@afro.com
Anthony Butler, international director of E3 Business Group, held a resource fair for D.C., Maryland and Virginia workers displaced by the 47th presidential administration’s raid on the federal workforce. Since the 47th president took office and created the Department of Government Efficiency (DOGE), thousands of federal employees have been terminated, taken buyouts or retired early.
Butler’s event took place at the E3 Center for Entrepreneurial Development in Waldorf, Md. on April 26. It day featured resume support, professional headshots and financial advice.
“Fed Day 2025 is a bringing together of resources for those that have either been impacted by the federal government’s reduction in workforce, or they’re fearing it. There are companies here that have people in their families or client base who have experienced the same thing,” said Butler. “The goal today is to provide hope, information and a sense that you’re not alone.”
Butler, a Charles County resident, has a 30-year history of supporting entrepreneurs across the country. His philosophy rests in educating, encouraging and empowering small businesses to set goals and forge their own roads to success.
Many of the entrepreneurs Butler works with contract with the federal government or even hold agency positions. He had experts like Anthony Buono, a retirement and wealth growth specialist, on hand to speak with job seekers at the fair.
Anthony Buono, who works at the Virginia-based Shirley Luu and Associates (SLA), said his firm has received many calls from people who are worried about the fate of the Federal Employees Retirement System (FERS). Through the plan, workers receive retirement benefits from three main sources: a pension, Thrift Savings Plan (TSP) and Social Security.
If displaced workers were forced to retire earlier than they planned to, their pensions could be smaller or they may need to tap into TSP funds early, which can come with financial penalties. Even federal workers who still have their jobs face legislative proposals to cut retirement benefits and market volatility that threatens the balances of their TSP accounts.
New tariffs from the 47th president have caused a sharp decline in the U.S. stock market.
“Your TSP is vulnerable just simply because it’s in the stock market. It’s all money that’s in the stock market, and it’s going up and down, like an EKG, “ said Buono. “Right now, it’s probably taking some hits.”
SLA offers alternatives that reduce or eliminate market risks by working with life insurance companies. Life insurance companies guarantee a fixed income for life, regardless of what happens in the market.
“For example, with life insurance companies, there are certain kinds of annuities that will take your TSP and, when you are a certain age of retirement, you will be able to contract with the life insurance company to take a guaranteed income for as long as you live,” said Buono.
TSPs also cannot be adjusted if a person outlives their savings. Life insurance companies, on the other hand, pool funds from many policyholders, using the collective contributions to ensure lifetime income regardless of whether a person lives longer than expected.
“The number one problem in America with retirement is the longevity crisis. It’s living too long,” said Buono. “The stock market was not designed for people living another 30 years after they retire. We can create contracts through life insurance companies with your TSPs where you’ll get a set amount every year as long as you live.”
