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Expeditors Intl. of Washington employees: Managing an Inheritance

Healthcare Provider Update: Healthcare Provider for Expeditors International of Washington Expeditors International of Washington primarily partners with major healthcare providers to offer employee health benefits. Typically, these include national insurers such as UnitedHealthcare, Anthem (Elevance Health), and Kaiser Permanente, among others. Employees are encouraged to choose plans that fit their specific healthcare needs. Potential Healthcare Cost Increases in 2026 As we approach 2026, healthcare costs are expected to surge significantly for employees of Expeditors International of Washington, largely driven by the anticipated expiration of enhanced premiums under the Affordable Care Act. Without these subsidies, many individuals could face premium increases exceeding 75%, impacting affordability and access to care. Coupled with rising medical costs and higher drug spending, these changes may create substantial financial burdens for employees and retirees alike, necessitating proactive budgeting and health planning. Click here to learn more

Expeditors Intl. of Washington employees handling an inheritance should weigh the emotional cost of their legacy against the financial gain. A financial advisor like The Retirement Group can help align such large assets with long-term retirement and investment goals so decisions today reflect past and future needs.

Getting an inheritance means much more than just receiving money. It is an opportunity to protect your family financially. We advise Expeditors Intl. of Washington employees to review their financial plans now so that their inheritance fits into their existing strategy and enhances their future prospects, according to The Retirement Group advisors.

We will discuss: 'In this article:

1. The Legal & Tax Implications: Understanding inheritance laws and the need to consult with legal and tax professionals is important.

2. Emotional and Strategic Financial Planning: Emotional aspects of receiving an inheritance must be balanced against strategic financial planning for the long term.

3. Retirement and Wealth Management: Assessing the impact that an inheritance may have on retirement plans and wealth management in general, with an eye toward Expeditors Intl. of Washington employees.

Heirloom wealth may be a curse or a blessing. Even if you suspect a relative has planned to include you in their will, you may have overlooked some other aspects of the inheritance process. Here are some considerations if the event does occur.

Ask a lawyer or tax expert before making any decisions about inheritance—this is informational only and not a substitute for real advice.

Take your time. If someone cared enough about you to leave you an inheritance, you may need time to mourn their death. This is vital, but most of the bigger decisions regarding your inheritance will probably wait. Sometime later you may be better able to make decisions. Neh, don't go it alone. So many laws, options and dangers exist that an expert may be necessary.

Consider your own family. An inheritance may change one's own financial strategy. Make sure you consider this.

A tax collector could come to visit. The tax consequences if you inherited an IRA are important. Distributions to non-spouse beneficiaries are required by the end of the tenth calendar year following the year of death of the account owner under the SECURE Act.

The new rule also does not require the non-spouse beneficiary to withdraw funds within 10 years, as I have learned as a Expeditors Intl. of Washington employee. The money must be withdrawn by the end of the tenth calendar year following the inheritance, however. Others may include the surviving spouse of the IRA owner, disabled or chronically ill individuals, people no older than the IRA owner and minor offspring of the IRA owner.

Stay informed. The estate laws have changed many times since you thought they were the same.

Keep in mind what you should be doing in your situation. The sentiment is understandable—you may want to leave your inheritance as it is out of respect for your relative. What if the inheritance is not right for your situation now? A financial professional can help you decide whether the inheritance meets your objectives, time horizon, and risk tolerance.

Added Fact:

A study by Merrill Lynch in 2021 suggests Expeditors Intl. of Washington employees handling an inheritance should consider the impact on their retirement plans. Of those who received an inheritance, 42% said it affected their retirement timeline, the study found. Some retired earlier than expected and some worked longer to cash in on the inheritance. That insight illustrates why Expeditors Intl. of Washington employees considering retirement should consider how an inheritance might affect their financial goals, lifestyle decisions, and overall retirement strategy. An integrated approach combining the inheritance and long-term retirement plans may help with informed decision-making.

Added Analogy:

Managing an inheritance as a Expeditors Intl. of Washington employee feels like receiving an heirloom—an extremely sentimental piece. Like you would handle such an heirloom carefully, you should handle your inheritance strategically as well. Think about holding that heirloom and realizing its significance in your life and in your family history. As you would consult experts on art preservation to determine its true value and to ensure its long-term preservation, you should also consult lawyers, tax, and financial professionals about how to manage your inheritance. Consider your inheritance a treasure—honor the past while making sound financial decisions for the future. Like an heirloom that tells generations of stories, your inheritance should be a part of your overall wealth management strategy that will live on indefinitely.

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Sources:

1. Senior Strong 'Understanding Inheritance Tax Impact on Retirees.' Senior Strong , 2023, www.seniorstrong.org . Accessed 24 Feb 2025.

2.Accounting Insights 'Managing Your Inheritance: Strategic Financial Planning Guide.' Accounting Insights , AccountingInsights Team, 2023, www.accountinginsights.org . Accessed 24 Feb 2025.

3. Kiplinger Waggoner, John. 'Don’t Count on an Inheritance for Your Retirement Plan.' Kiplinger , 27 Jan 2025, www.kiplinger.com . Accessed 24 Feb 2025.

4. CreditBrite 'How to Navigate Retirement Planning After Inheriting Assets.' CreditBrite , 2023, www.creditbrite.com . Accessed 24 Feb 2025.

5. Kiplinger’s Free E-Newsletters 'Investing, Taxes, Retirement.' Kiplinger’s Free E-Newsletters , 2025, www.kiplinger.com . Accessed 24 Feb 2025.

What type of retirement savings plan does Expeditors Intl. of Washington offer to its employees?

Expeditors Intl. of Washington offers a 401(k) retirement savings plan to help employees save for their future.

How can I enroll in the 401(k) plan at Expeditors Intl. of Washington?

Employees can enroll in the 401(k) plan at Expeditors Intl. of Washington by completing the enrollment form available through the HR portal.

Does Expeditors Intl. of Washington match employee contributions to the 401(k) plan?

Yes, Expeditors Intl. of Washington provides a matching contribution to employee 401(k) contributions, subject to certain limits.

What is the maximum contribution limit for the 401(k) plan at Expeditors Intl. of Washington?

The maximum contribution limit for the 401(k) plan at Expeditors Intl. of Washington follows the IRS guidelines, which are updated annually.

Can I change my contribution percentage to the 401(k) plan at Expeditors Intl. of Washington?

Yes, employees can change their contribution percentage at any time through the HR portal or by contacting HR at Expeditors Intl. of Washington.

When can I start withdrawing from my 401(k) plan at Expeditors Intl. of Washington?

Employees can typically start withdrawing from their 401(k) plan at Expeditors Intl. of Washington after reaching the age of 59½, subject to plan rules.

Are there any penalties for early withdrawal from the 401(k) plan at Expeditors Intl. of Washington?

Yes, early withdrawals from the 401(k) plan at Expeditors Intl. of Washington may incur penalties and taxes, as per IRS regulations.

What investment options are available in the 401(k) plan at Expeditors Intl. of Washington?

The 401(k) plan at Expeditors Intl. of Washington offers a variety of investment options, including mutual funds and target-date funds.

How often can I change my investment options in the 401(k) plan at Expeditors Intl. of Washington?

Employees can change their investment options in the 401(k) plan at Expeditors Intl. of Washington as often as they wish, typically with no restrictions on frequency.

Is there a vesting schedule for the employer match in the 401(k) plan at Expeditors Intl. of Washington?

Yes, Expeditors Intl. of Washington has a vesting schedule for employer matching contributions, which employees should review in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Expeditors International of Washington, Inc. offers a robust 401(k) plan with automatic enrollment and company matching contributions. At the end of 2022, Expeditors' 401(k) plan had total assets of $839,061,386, with 9,224 participants. The average retirement account value per participant in 2022 was $90,965. Employees contributed an average of $6,619 annually, with the company matching approximately $1,947 per employee, amounting to 30.92% of employee contributions (Smart 40K Plus). The plan includes automatic enrollment and default investments for employees who do not actively manage their account allocations. Expeditors does not appear to have a defined benefit pension plan but operates a defined contribution plan, making the 401(k) plan their primary retirement vehicle. The company encourages long-term saving by offering a straightforward employer match, providing employees with additional retirement security. Expeditors' matching contributions totaled $17,965,349 in 2022. The investment growth rate in 2022 was notably affected by market fluctuations, showing a -14.04% growth rate

Restructuring and Layoffs: In 2023, Expeditors International of Washington announced a strategic restructuring plan aimed at streamlining operations and improving efficiency. This plan included a reduction in workforce across several departments. The decision was driven by the need to adapt to shifting market conditions and optimize operational costs. It is crucial to follow this news due to the current economic environment, which is characterized by volatility and uncertainty in global trade and logistics. Understanding these changes can provide insights into broader industry trends and potential impacts on job security and organizational stability.

Expeditors International of Washington offers stock options and RSUs to certain employees. Stock options are granted based on performance and tenure, while RSUs are typically awarded to senior management and key employees. According to the 2023 Proxy Statement (page 45), the company provides these incentives to align employee interests with company performance.

Health Benefits Section: The website should provide detailed information about the health insurance plans, types of coverage, and any recent changes for 2022-2024. Business and Financial News Websites: Recent Articles: Search for any news articles on employee benefits changes, cost adjustments, or healthcare-related updates. Job Review Sites: Employee Feedback: Review employee testimonials and ratings for insights into healthcare benefits and satisfaction. Industry News Websites: Trends and Comparisons: Investigate if there are any reports on how Expeditors' benefits compare with industry standards. Healthcare Benefit Platforms: Benefit Analysis: Look for any detailed reports or reviews on healthcare plans provided by Expeditors International.