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

Healthcare Provider Update: Healthcare Provider for ArcBest ArcBest provides health insurance through a partnership with multiple insurance carriers, primarily using the services of UnitedHealthcare (UHC) along with several other insurers depending on the specific plan options available to their employees. Potential Healthcare Cost Increases in 2026 In 2026, ArcBest employees and retirees may face significant healthcare cost increases as marketplace premiums are projected to surge, with some states experiencing hikes of more than 60%. The anticipated expiration of enhanced federal premium subsidies poses a crucial risk, potentially leading to a staggering 75% rise in out-of-pocket premiums for many enrollees. As employers, including ArcBest, reconsider their benefit structures amidst rising medical costs and shrinking wage growth, employees should prepare for possible changes in deductibles and out-of-pocket maximums. This evolving landscape underscores the importance of early planning and informed decision-making in navigating the forthcoming financial challenges related to healthcare coverage. Click here to learn more

For example, ArcBest 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 ArcBest 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 ArcBest 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 ArcBest employees.

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

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 ArcBest 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, ArcBest 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. 'ArcBest 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 ArcBest 401(k) plan?

   The ArcBest 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck on a tax-deferred basis to help secure their financial future.

   How can employees enroll in the ArcBest 401(k) plan?

   Employees can enroll in the ArcBest 401(k) plan through the company’s benefits portal during open enrollment or within 30 days of their hire date.

   Does ArcBest match employee contributions to the 401(k) plan?

   Yes, ArcBest offers a company match for employee contributions to the 401(k) plan, which helps employees grow their retirement savings.

   What is the maximum contribution limit for the ArcBest 401(k) plan?

   The maximum contribution limit for the ArcBest 401(k) plan follows the IRS guidelines, which may change annually. Employees should check the latest IRS limits for the current year.

   When can employees start contributing to the ArcBest 401(k) plan?

   Employees at ArcBest can start contributing to the 401(k) plan after they have completed their eligibility period, typically within their first month of employment.

   What investment options are available in the ArcBest 401(k) plan?

   The ArcBest 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

   Can employees take loans against their ArcBest 401(k) plan?

   Yes, employees may have the option to take loans against their ArcBest 401(k) plan, subject to specific terms and conditions outlined in the plan document.

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

   If you leave ArcBest, you can choose to roll over your 401(k) balance to another retirement account, leave it in the ArcBest plan (if eligible), or cash it out, though cashing out may incur taxes and penalties.

   How does ArcBest ensure the security of my 401(k) savings?

   ArcBest takes the security of your 401(k) savings seriously by partnering with reputable financial institutions and implementing strong data protection measures.

   Are there any fees associated with the ArcBest 401(k) plan?

   Yes, there may be administrative fees associated with the ArcBest 401(k) plan, which are disclosed in the plan documents provided to employees.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   ArcBest announced a strategic restructuring plan aimed at streamlining operations and improving efficiency. This plan includes workforce reductions across various departments. The company also plans to make adjustments to its employee benefits package to align with the new operational model.