What AECOM Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for AECOM AECOM employees are primarily covered through its benefit partnership with UnitedHealthcare. This relationship provides comprehensive health insurance options to the workforce, including various plan structures designed to meet diverse healthcare needs. Potential Healthcare Cost Increases in 2026 In 2026, AECOM employees may face substantial healthcare cost increases as many large companies, including AECOM, prepare to adjust their benefit structures in response to rising medical costs. The Affordable Care Act marketplace is projected to see premium hikes exceeding 60% in some states, primarily reflecting the loss of enhanced federal subsidies. This situation has the potential to significantly raise out-of-pocket expenses for employees as employers may shift more costs onto their workforce; over half are likely to increase deductibles or out-of-pocket limits. Employees need to strategically navigate their options and familiarize themselves with upcoming benefit changes to mitigate the impact of these financial pressures. Click here to learn more

For example, AECOM employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for AECOM employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for AECOM employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of AECOM employees.

Simply for political, economic, and social reasons, many AECOM employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at AECOM.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by AECOM employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, AECOM employees who are retiring abroad need to plan carefully.

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Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'AECOM and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What is the 401(k) plan offered by AECOM?

   AECOM offers a 401(k) plan that allows employees to save for retirement by contributing a portion of their salary on a pre-tax or after-tax basis.

   How does AECOM match employee contributions to the 401(k) plan?

   AECOM provides a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

   What are the eligibility requirements for AECOM’s 401(k) plan?

   Employees of AECOM are generally eligible to participate in the 401(k) plan after completing a specific period of service, typically within the first year of employment.

   Can I change my contribution percentage to AECOM's 401(k) plan?

   Yes, employees can change their contribution percentage to AECOM's 401(k) plan at any time, subject to certain guidelines.

   What investment options are available in AECOM's 401(k) plan?

   AECOM's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

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   What happens to my AECOM 401(k) if I leave the company?

   If you leave AECOM, you can choose to roll over your 401(k) balance to another retirement account, leave it in the AECOM plan, or withdraw the funds, subject to tax implications.

   Is there a loan option available through AECOM's 401(k) plan?

   Yes, AECOM allows employees to take loans against their 401(k) balance under certain conditions.

   How often can I change my investment allocations in AECOM's 401(k) plan?

   Employees can change their investment allocations in AECOM's 401(k) plan as often as they wish, typically without restrictions.

   Does AECOM offer financial education resources for 401(k) participants?

   Yes, AECOM provides financial education resources and workshops to help employees make informed decisions about their 401(k) savings.

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