What Century Communities Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Century Communities The primary healthcare provider for Century Communities is often facilitated through the company's employee benefits program, which includes options for major insurers. However, specific healthcare providers may vary based on the employees' locations and plans selected. Generally, employees can access several national insurers that are common in employer-sponsored health plans. Potential Healthcare Cost Increases in 2026 As health insurance premiums for the Affordable Care Act (ACA) marketplace are projected to surge in 2026, many employees of Century Communities could face significant financial strain. A combination of escalating medical costs and the potential expiration of federal subsidies may result in average premium increases of over 60% in certain states, with some individuals seeing their out-of-pocket costs jump by approximately 75%. This drastic rise in expenses can disproportionately affect middle-income families, complicating retirement planning and financial stability. With proactive budgeting and strategic healthcare planning becoming increasingly essential, employees should prepare for these potentially daunting changes ahead. Click here to learn more

For example, Century Communities 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 Century Communities 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 Century Communities 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 Century Communities employees.

Simply for political, economic, and social reasons, many Century Communities 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 Century Communities.

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 Century Communities 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, Century Communities 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. 'Century Communities 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 Century Communities offer to its employees?

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

   Is there a company match for contributions to the Century Communities 401(k) plan?

   Yes, Century Communities provides a company match for employee contributions to the 401(k) plan, helping to enhance your retirement savings.

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

   Employees can enroll in the Century Communities 401(k) plan through the company’s designated benefits portal or by contacting the HR department for assistance.

   What is the eligibility requirement to participate in the Century Communities 401(k) plan?

   Generally, employees of Century Communities who meet specific criteria, such as age and length of service, are eligible to participate in the 401(k) plan.

   Can employees change their contribution percentage to the Century Communities 401(k) plan?

   Yes, employees can change their contribution percentage to the Century Communities 401(k) plan at any time, subject to the plan's rules.

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

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

   Does Century Communities provide financial education resources for employees regarding the 401(k) plan?

   Yes, Century Communities offers financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

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

   If you leave Century Communities, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.

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

   Yes, like most 401(k) plans, the Century Communities 401(k) plan may have administrative and investment fees. Employees can review the plan documents for detailed information.

   How often can employees contribute to the Century Communities 401(k) plan?

   Employees can contribute to the Century Communities 401(k) plan through payroll deductions, which occur on each pay period.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   In 2024, Century Communities announced a restructuring plan that includes reducing its workforce by 8% and making significant changes to its benefits package, including increased employee contributions to retirement plans.