What Brink's Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Brink's Brink's employees have access to healthcare through various insurance providers depending on their selected plans. Notably, some of the major national insurers like UnitedHealthcare and Anthem may be involved, particularly as employees explore options in the ACA marketplace. As healthcare plans can differ between locations and employment types, it's advisable for employees to consult their HR department for specific provider details tailored to their needs. Potential Healthcare Cost Increases in 2026 As 2026 approaches, Brink's employees should be prepared for significant healthcare cost increases tied to the ACA marketplace. Insurers are poised to propose premium hikes of up to 66% in certain states, impacting overall affordability of healthcare. The expiration of enhanced federal premium subsidies may leave many employees facing out-of-pocket costs that could surge by over 75%. With many companies, including Brink's, likely shifting more healthcare expenses onto their employees, understanding benefit adjustments and planning for these rising costs will be crucial for maintaining financial health in the coming year. Click here to learn more

For example, Brink's 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 Brink's 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 Brink's 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 Brink's employees.

Simply for political, economic, and social reasons, many Brink's 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 Brink's.

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 Brink's 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, Brink's 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. 'Brink's 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 Brink's offer to its employees?

   Brink's offers a 401(k) retirement savings plan to its employees.

   How can Brink's employees enroll in the 401(k) plan?

   Brink's employees can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department.

   Does Brink's offer a company match for the 401(k) contributions?

   Yes, Brink's offers a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.

   What is the maximum contribution limit for Brink's 401(k) plan?

   The maximum contribution limit for Brink's 401(k) plan is determined by the IRS guidelines, which can change annually.

   Can Brink's employees change their contribution percentage to the 401(k) plan?

   Yes, Brink's employees can change their contribution percentage at any time by accessing their account online or contacting HR.

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

   Brink's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

   When can Brink's employees start withdrawing from their 401(k) plan?

   Brink's employees can start withdrawing from their 401(k) plan at age 59½, or earlier under certain circumstances, such as financial hardship.

   Does Brink's provide educational resources for employees regarding their 401(k) plan?

   Yes, Brink's provides educational resources and workshops to help employees understand their 401(k) plan and make informed investment decisions.

   Are there any fees associated with Brink's 401(k) plan?

   Yes, Brink's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

   What happens to a Brink's employee's 401(k) if they leave the company?

   If a Brink's employee leaves the company, they can roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Brink's plan if allowed.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Brink's announced a restructuring plan that includes significant layoffs and a review of employee benefits. The company is focusing on streamlining operations to improve efficiency amid economic uncertainties. Additionally, there may be changes to pension and 401(k) plans as part of cost-saving measures.