What Berry Global Group Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Berry Global Group The healthcare provider for Berry Global Group is not explicitly mentioned in widely accessible sources. However, many companies typically partner with large insurance carriers such as UnitedHealthcare, Cigna, or Anthem to offer health insurance plans to their employees. To confirm the specific provider, employees should refer to internal documentation or communicate directly with their HR department. Healthcare Costs Overview for 2026 As Berry Global Group employees prepare for 2026, a significant increase in healthcare costs is on the horizon. With a projected sharp rise in Affordable Care Act (ACA) premiums-some states facing hikes exceeding 60%-employees are likely to shoulder a greater share of healthcare expenses. This increase is largely due to the expiration of enhanced federal subsidies, rising medical costs, and pressure from profit-focused insurers. Employees should proactively review upcoming changes to their benefits and consider strategies such as optimizing Health Savings Accounts (HSAs) to mitigate the financial impact of these anticipated cost burdens. Click here to learn more

For example, Berry Global Group 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 Berry Global Group 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 Berry Global Group 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 Berry Global Group employees.

Simply for political, economic, and social reasons, many Berry Global Group 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 Berry Global Group.

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 Berry Global Group 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, Berry Global Group 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. 'Berry Global Group 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 Berry Global Group offer to its employees?

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

   Does Berry Global Group match employee contributions to the 401(k) plan?

   Yes, Berry Global Group provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

   What is the eligibility requirement to participate in Berry Global Group’s 401(k) plan?

   Employees at Berry Global Group are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

   How can employees at Berry Global Group enroll in the 401(k) plan?

   Employees can enroll in Berry Global Group’s 401(k) plan by completing the enrollment process through the company’s benefits portal.

   What types of investment options are available in Berry Global Group’s 401(k) plan?

   Berry Global Group offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.

   Can employees at Berry Global Group change their contribution percentage to the 401(k) plan?

   Yes, employees can change their contribution percentage to the Berry Global Group 401(k) plan at any time, subject to plan rules.

   Is there a loan provision in Berry Global Group’s 401(k) plan?

   Yes, Berry Global Group allows employees to take loans against their 401(k) savings, subject to certain conditions and limits.

   When can employees at Berry Global Group start withdrawing funds from their 401(k) plan?

   Employees can begin withdrawing funds from their Berry Global Group 401(k) plan at age 59½, or earlier under certain circumstances such as financial hardship.

   Does Berry Global Group offer financial education resources related to the 401(k) plan?

   Yes, Berry Global Group provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

   Are there any fees associated with Berry Global Group’s 401(k) plan?

   Yes, there may be administrative and investment fees associated with Berry Global Group’s 401(k) plan, which are disclosed 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.
   Berry Global Group announced significant restructuring plans, including layoffs and reorganization to streamline operations. These changes are expected to impact various divisions within the company.