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

For example, Amerisourcebergen 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 Amerisourcebergen 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 Amerisourcebergen 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 Amerisourcebergen employees.

Simply for political, economic, and social reasons, many Amerisourcebergen 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 Amerisourcebergen.

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 Amerisourcebergen 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, Amerisourcebergen employees who are retiring abroad need to plan carefully.

Featured Video

Articles you may find interesting:

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. 'Amerisourcebergen 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 type of retirement savings plan does AmerisourceBergen offer to its employees?

   AmerisourceBergen offers a 401(k) retirement savings plan to help employees save for their future.

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

   AmerisourceBergen provides a matching contribution up to a certain percentage of the employee's salary, which varies based on the plan guidelines.

   Can employees at AmerisourceBergen choose how to invest their 401(k) contributions?

   Yes, employees at AmerisourceBergen can select from a variety of investment options within the 401(k) plan based on their individual risk tolerance and retirement goals.

   What is the eligibility requirement for AmerisourceBergen employees to participate in the 401(k) plan?

   Employees must meet specific eligibility criteria, such as length of service and age, to participate in AmerisourceBergen's 401(k) plan.

   Does AmerisourceBergen allow employees to take loans from their 401(k) accounts?

   Yes, AmerisourceBergen allows employees to take loans from their 401(k) accounts under certain conditions as outlined in the plan documents.

   Are there any fees associated with AmerisourceBergen’s 401(k) plan?

   Yes, there may be administrative fees associated with the management of AmerisourceBergen's 401(k) plan, which are disclosed in the plan documentation.

   How can AmerisourceBergen employees access their 401(k) account information?

   Employees can access their 401(k) account information through the online portal provided by the plan administrator designated by AmerisourceBergen.

   What happens to an employee's 401(k) balance if they leave AmerisourceBergen?

   If an employee leaves AmerisourceBergen, they have several options for their 401(k) balance, including rolling it over to another retirement account or leaving it in the AmerisourceBergen plan, subject to the plan's rules.

   Does AmerisourceBergen offer any educational resources for employees regarding their 401(k) plan?

   Yes, AmerisourceBergen provides educational resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

   Can AmerisourceBergen employees change their contribution rate to the 401(k) plan at any time?

   Yes, employees at AmerisourceBergen can change their contribution rate to the 401(k) plan during designated enrollment periods or as allowed by the plan.