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

Healthcare Provider Update: Healthcare Provider for Crown Holdings Crown Holdings does not directly provide its own health insurance. Instead, it offers health insurance coverage to its employees through major national insurers such as UnitedHealthcare and Anthem Blue Cross Blue Shield, which are likely candidates given their prominence in corporate healthcare plans. Brief Overview of Potential Healthcare Cost Increases in 2026 As we approach 2026, Crown Holdings faces challenges with rising healthcare costs. Estimated health insurance premiums for plans under the Affordable Care Act (ACA) are projected to surge, with some states experiencing hikes exceeding 60%. This dramatic increase, coupled with the potential expiration of enhanced federal premium subsidies, could lead to out-of-pocket costs skyrocketing for about 92% of marketplace enrollees, including those associated with Crown Holdings. Employees are encouraged to review their benefit options early and strategize to mitigate impending financial pressures in light of these escalating costs. Click here to learn more

For example, Crown 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 Crown 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 Crown 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 Crown Holdings employees.

Simply for political, economic, and social reasons, many Crown 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 Crown 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 Crown 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, Crown 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. 'Crown 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 savings plan does Crown Holdings offer to its employees?

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

   Does Crown Holdings provide a company match for contributions made to the 401(k) plan?

   Yes, Crown Holdings provides a company match for employee contributions to the 401(k) plan, subject to certain limits.

   What is the eligibility requirement to participate in Crown Holdings' 401(k) plan?

   Employees of Crown Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service.

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

   Crown Holdings employees can enroll in the 401(k) plan through the company's HR portal or by contacting the HR department for guidance.

   What investment options are available in Crown Holdings' 401(k) plan?

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

   Are there any fees associated with Crown Holdings' 401(k) plan?

   Yes, there may be fees associated with managing the 401(k) plan at Crown Holdings, which are disclosed in the plan documents.

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

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

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

   If you leave Crown Holdings, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in the Crown Holdings plan if permitted.

   Does Crown Holdings offer hardship withdrawals from the 401(k) plan?

   Yes, Crown Holdings allows hardship withdrawals under certain circumstances as defined by the IRS and the plan rules.

   How often can Crown Holdings employees change their contribution amounts to the 401(k) plan?

   Crown Holdings employees can typically change their contribution amounts on a quarterly basis or as specified in the plan guidelines.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Crown Holdings announced a significant restructuring plan in early 2024, including layoffs and consolidation of operations across several divisions.