New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Moving for Retirement? Key State Tax Insights for Fidelity National Information Services Employees

Healthcare Provider Update: Healthcare Provider for Fidelity National Information Services Fidelity National Information Services, often referred to as FIS, primarily utilizes Cigna Healthcare as its healthcare provider for employee benefits. Cigna offers a variety of health insurance plans to FIS employees, ensuring access to essential medical services and resources. Potential Healthcare Cost Increases in 2026 As we approach 2026, healthcare consumers should prepare for significant increases in health insurance premiums. The Affordable Care Act (ACA) marketplace is set to see some of the steepest hikes since its inception, with rates in certain states jumping by over 60%. As enhanced federal premium subsidies are likely to expire without congressional action, more than 22 million Americans-92% of ACA participants-may confront out-of-pocket premium increases exceeding 75%. This trend reflects not only rising medical costs but also profit pressures from major insurers, creating a challenging environment for consumers seeking affordable healthcare options. Click here to learn more

'Fidelity National Information Services employees weighing a move in retirement should look beyond just income tax and consider the full state tax landscape to support smarter long-term planning,'—Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Fidelity National Information Services employees exploring relocation in retirement can benefit from understanding how different state tax rules may influence everyday expenses and long-term goals,'—Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How moving to a new state may influence income taxes in retirement.
The effect property and sales taxes can have on long-term living expenses.
Why estate and inheritance taxes matter for legacy planning.

Potential tax implications of moving

If you are thinking of moving to a new state when you retire, there are several factors to consider in advance. Beyond determining if the location suits your needs and lifestyle, it's important to find out how much you will owe in state taxes. That's because both your short- and long-term living expenses can be influenced by property and sales taxes. Additionally, certain states have estate and inheritance taxes that may affect your legacy planning.

Even if you plan to move to a state with no income tax after retiring from Fidelity National Information Services, look closely at the full tax landscape before making the leap. In truth, income tax is just one piece of a larger equation. Here are four core tax categories to keep in mind:

1. Income taxes

As of 2025, wage income is not taxed at the state level in nine U.S. states: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. This can make these states attractive to Fidelity National Information Services retirees who anticipate earning a higher income even after retirement.

If you plan to meet most of your income needs from pensions, traditional IRAs, and employer retirement plans, this income is generally subject to federal taxes and may be subject to state taxes. That said, most states do not tax Social Security benefits. Be sure to check if that's true in the state you'd like to move to. There are still nine states that impose income tax on Social Security, although they typically also offer exemptions or credits based on your income level. ¹

Comparing estimated state and federal taxes on retirement withdrawals can help clarify how your income could differ depending on where you live. State rules, exemptions, and formulas can vary widely.

2. Property tax

Property tax costs differ greatly depending on where you live. New Jersey, for instance, has an effective property tax of 2.23%, while Hawaii's property tax is only 0.27%. ² According to the U.S. Census Bureau, the national average is 1.02%. ³

In some states, eligible homeowners could see cost reductions through age-based or homestead exemptions. However, this is not universally true. This makes it important to understand the property tax landscape in advance of making any moves. Location and real estate values will heavily influence your total housing-related expenses in retirement.

3. Sales tax

Sales taxes can shape everyday spending, especially for retirees living on fixed income sources of revenue. As of 2025, 45 states impose a statewide sales tax, and 38 states have additional local sales taxes levied by counties or municipalities. ⁴ While exemptions for items like groceries or clothing may exist, they vary widely between states. And these exemptions typically do not mitigate sales taxes on other items, which average 7.52% nationwide. ⁴ Even in places without income taxes, the combined sales tax burden can noticeably impact the cost of living.

4. Inheritance and estate taxes

Other taxes you should consider before moving include those levied on estates and inheritances. These can be crucial as they may influence how much your heirs ultimately receive.

In addition to federal estate tax, 12 states and the District of Columbia impose estate taxes and five states levy inheritance taxes. And then there's Maryland, the only state that charges both. ⁵

Before relocating, be sure to review estate tax laws in both your current and future state of residence since rules and thresholds differ.

The bottom line

Taxes are only one piece of the cost-of-living puzzle. Housing, health care, and insurance may also factor heavily into retirement planning for those leaving the Fidelity National Information Services workforce.

Taking a full view of a state’s tax environment can help you make sound, well-considered choices. Working with a financial planner or tax professional can help you evaluate how a move could influence your income, assets, and long-term goals.

Want help analyzing your retirement move?

The Retirement Group can help you explore how taxes and benefits might shape your retirement income and relocation decisions.

Featured Video

Articles you may find interesting:

Sources:

1. Fidelity. ' Is Social Security still taxable? ' by Fidelity Viewpoints. 2025.

2. Rocket Mortgage. ' Property taxes by state: Ranked from highet to lowest in 2025 ,' by Joel Reese. September 12, 2025.

3. USA Today. ' These states have the highest property taxes ,' by Sara Chernikoff. July 18, 2024.

4. Tax Foundation. ' State and Local Sales Tax Rates, Midyear 2025 ,' by Jared Walczak. July 8, 2025.

5. Tax Foundation. ' Estate and Inheritance Taxes by State, 2025 ,' by Katherine Loughead. Oct. 28, 2025.

Other Resources:

1. Markowitz, Andy. “ Taxes on Social Security Are Based on Your Income .” AARP , 16 Apr. 2025, updated 12 Aug. 2025, www.aarp.org/social-security/retirement/federal-income-taxes/ .

2. “ Thinking of Moving to Another State? Before You Pack, Understand How Taxes Could Affect Your Finances .” Fidelity Viewpoints , 16 Oct. 2025, www.fidelity.com/learning-center/personal-finance/moving-to-another-state-taxes .

3. TurboTax Editorial Team. “ 9 States with No Income Tax .” Intuit TurboTax , 21 Sept. 2025, turbotax.intuit.com/tax-tips/fun-facts/9-states-with-no-income-tax/c9RZgthD3/.

4. “ How Do State and Local Estate and Inheritance Taxes Work? ” Urban-Brookings Tax Policy Center , Updated Jan. 2024, taxpolicycenter.org/briefing-book/how-do-state-and-local-estate-and-inheritance-taxes-work.

5. “ Property Tax Exemptions .” Texas Comptroller of Public Accounts , n.d., comptroller.texas.gov/taxes/property-tax/exemptions/.

What is the 401(k) plan offered by Fidelity National Information Services?

The 401(k) plan at Fidelity National Information Services is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.

How can employees of Fidelity National Information Services enroll in the 401(k) plan?

Employees can enroll in the 401(k) plan by accessing the benefits portal provided by Fidelity National Information Services and completing the enrollment process online.

What are the contribution limits for the 401(k) plan at Fidelity National Information Services?

The contribution limits for the 401(k) plan at Fidelity National Information Services are set annually by the IRS, and employees should refer to the current IRS guidelines for the latest limits.

Does Fidelity National Information Services offer matching contributions to the 401(k) plan?

Yes, Fidelity National Information Services offers matching contributions to the 401(k) plan, which helps employees increase their retirement savings.

What investment options are available in the Fidelity National Information Services 401(k) plan?

The 401(k) plan at Fidelity National Information Services includes a variety of investment options, such as mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can employees of Fidelity National Information Services take loans against their 401(k) savings?

Yes, employees of Fidelity National Information Services may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What happens to my 401(k) account if I leave Fidelity National Information Services?

If you leave Fidelity National Information Services, you can choose to roll over your 401(k) account to another qualified retirement plan, cash it out, or leave it in the Fidelity National Information Services plan if allowed.

How often can employees change their contribution amounts to the 401(k) plan at Fidelity National Information Services?

Employees at Fidelity National Information Services can typically change their contribution amounts at any time, subject to the plan's specific rules.

Is there a vesting schedule for employer contributions in the Fidelity National Information Services 401(k) plan?

Yes, Fidelity National Information Services has a vesting schedule for employer contributions, which determines how much of the employer's contributions an employee is entitled to based on their length of service.

How can I access my 401(k) account information at Fidelity National Information Services?

Employees can access their 401(k) account information through the benefits portal provided by Fidelity National Information Services or by contacting the plan administrator.

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

Fidelity National Information Services (FIS) offers its employees the Fidelity National Information Services, Inc. 401(k) Profit Sharing Plan through Vanguard, covering approximately 27,995 employees. The 401(k) plan includes both employee and employer contributions, with limits set by the IRS. In 2023, the maximum employee contribution to the 401(k) was $22,500, and this limit rose to $23,000 in 2024. Employees aged 50 and older are eligible for an additional catch-up contribution of $7,500, raising their total possible contribution to $30,000 in 2023 and $30,500 in 2024. Fidelity National Information Services employees can benefit from both traditional and Roth 401(k) options under this plan, which is managed through Vanguard (Capitalize) (FidelityWorkplace). The company's 401(k) plan includes employer contributions, allowing employees to benefit from profit-sharing when the company performs well. Combined employee and employer contributions were capped at $66,000 in 2023 and increased to $69,000 in 2024

Restructuring and Layoffs: In early 2023, FIS announced a significant restructuring plan aimed at optimizing its operations and reducing costs. This involved a reduction in workforce by approximately 6% to streamline its operations and enhance profitability. The company cited the need to adapt to the evolving market demands and competitive landscape as key reasons for these changes. Importance: Given the current economic uncertainty and the shifting landscape of the financial services industry, it is crucial to monitor these developments. The restructuring efforts reflect broader trends in the sector, impacted by economic conditions, investment strategies, and regulatory changes. Understanding these adjustments can provide insights into how companies are navigating the economic environment and managing their resources.

Fidelity National Information Services (FIS): In 2022, FIS provided stock options and RSUs to its employees as part of its compensation package. The stock options are typically granted to key employees and executives, while RSUs are offered more broadly across various levels of the company. This practice aligns with FIS's goal to attract and retain top talent. Fidelity National Information Services (FIS): For 2023, FIS continued offering stock options and RSUs. Stock options generally come with a vesting schedule, rewarding long-term commitment, while RSUs are often granted with performance-based vesting criteria. These incentives are designed to align employees' interests with the company's long-term goals. Fidelity National Information Services (FIS): In 2024, FIS has updated its stock options and RSU policies, focusing on increasing their competitive edge in the market. RSUs are commonly granted to senior employees and high performers, with stock options being allocated to executives and strategic hires. This approach helps FIS to maintain a motivated and engaged workforce.

Fidelity National Information Services' Financial and Industry Publications: Sources like Bloomberg, Reuters, or industry-specific publications often cover employee benefits in detail. Employee Reviews and Forums: Websites like Glassdoor or Indeed may have reviews and posts from current or former employees discussing their experiences with health benefits. Government and Legal Sources: Resources like the Department of Labor or legal databases might provide information on any recent changes or compliance issues related to employee benefits.