What BrightView Holdings Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for BrightView Holdings: BrightView Holdings offers its employees access to healthcare solutions through various insurers participating in the Affordable Care Act (ACA) marketplace. As employees explore their options for 2026, a variety of plans will be available that align with their individual healthcare needs. Potential Healthcare Cost Increases in 2026: In 2026, BrightView Holdings employees may face substantial increases in healthcare costs, primarily due to anticipated surges in ACA marketplace premiums. With some insurers indicating rate hikes of over 60%, many employees could see their out-of-pocket expenses dramatically rise, particularly if the enhanced federal subsidies expire. The combination of elevated medical costs, corporate shifts towards cost-sharing, and changes in plan structures may further strain budgets, making it crucial for employees to proactively review benefit options ahead of the new year. Understanding these dynamics can help employees navigate potential challenges in maintaining affordable healthcare access. Click here to learn more

For example, BrightView Holdings 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 BrightView Holdings 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 BrightView Holdings 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 BrightView Holdings employees.

Simply for political, economic, and social reasons, many BrightView Holdings 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 BrightView Holdings.

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 BrightView Holdings 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, BrightView Holdings 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. 'BrightView Holdings 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 plan does BrightView Holdings offer to its employees?

   BrightView Holdings offers a 401(k) retirement savings plan to its employees.

   How can employees of BrightView Holdings enroll in the 401(k) plan?

   Employees of BrightView Holdings can enroll in the 401(k) plan by completing the online enrollment process through the company’s benefits portal.

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

   Yes, BrightView Holdings provides a matching contribution to the 401(k) plan, subject to certain limits.

   What is the maximum employee contribution percentage allowed in the BrightView Holdings 401(k) plan?

   Employees of BrightView Holdings can contribute up to 100% of their eligible compensation, subject to the IRS annual contribution limit.

   When can employees of BrightView Holdings start contributing to the 401(k) plan?

   Employees of BrightView Holdings can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically after 30 days of employment.

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

   Yes, there may be administrative and investment fees associated with the BrightView Holdings 401(k) plan, which will be disclosed in the plan documents.

   Can employees of BrightView Holdings take loans against their 401(k) savings?

   Yes, the BrightView Holdings 401(k) plan allows employees to take loans against their savings, subject to specific terms and conditions.

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

   The BrightView Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   How often can employees change their investment choices in the BrightView Holdings 401(k) plan?

   Employees of BrightView Holdings can change their investment choices at any time through the plan's online portal.

   What happens to the 401(k) savings if an employee leaves BrightView Holdings?

   If an employee leaves BrightView Holdings, they have several options for their 401(k) savings, including rolling over to an IRA or a new employer's plan.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   BrightView Holdings recently announced a restructuring plan aimed at reducing costs and streamlining operations. This plan includes significant layoffs across various departments and potential changes to employee benefits and retirement plans.