What EnLink Midstream Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for EnLink Midstream: EnLink Midstream primarily collaborates with health insurance providers to manage employee health benefits; however, specific healthcare providers associated with EnLink Midstream aren't publicly detailed in available resources. Potential Healthcare Cost Increases for EnLink Midstream in 2026: As we look towards 2026, EnLink Midstream could face significant increases in healthcare costs driven by a perfect storm of economic factors. Affordability concerns are amplified by anticipated record hikes in ACA premiums, with some states seeing increases over 60%. The potential expiration of enhanced federal premium subsidies may push out-of-pocket expenses for employees, causing premiums to rise by over 75% for many. This combination of escalating medical costs and regulatory changes could strain both company resources and employee health benefits, necessitating strategic adjustments in how EnLink approaches healthcare coverage. Click here to learn more

For example, EnLink Midstream 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 EnLink Midstream 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 EnLink Midstream 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 EnLink Midstream employees.

Simply for political, economic, and social reasons, many EnLink Midstream 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 EnLink Midstream.

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 EnLink Midstream 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, EnLink Midstream employees who are retiring abroad need to plan carefully.

Featured Video

Articles you may find interesting:

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. 'EnLink Midstream 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 is the primary purpose of the 401(k) plan at EnLink Midstream?

   The primary purpose of the 401(k) plan at EnLink Midstream is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

   How can employees enroll in the 401(k) plan at EnLink Midstream?

   Employees can enroll in the 401(k) plan at EnLink Midstream by accessing the enrollment portal through the company's HR website or by contacting the HR department for assistance.

   Does EnLink Midstream offer a company match for 401(k) contributions?

   Yes, EnLink Midstream offers a company match for employee contributions to the 401(k) plan, which helps employees increase their retirement savings.

   What types of investment options are available in EnLink Midstream's 401(k) plan?

   EnLink Midstream's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

   When can employees start contributing to the 401(k) plan at EnLink Midstream?

   Employees at EnLink Midstream can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically within their first few months of employment.

   What is the maximum contribution limit for the 401(k) plan at EnLink Midstream?

   The maximum contribution limit for the 401(k) plan at EnLink Midstream follows the IRS guidelines, which may change annually. Employees should check the current limits for the specific year.

   Can employees take loans against their 401(k) balance at EnLink Midstream?

   Yes, EnLink Midstream allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

   What happens to an employee's 401(k) balance if they leave EnLink Midstream?

   If an employee leaves EnLink Midstream, they can choose to roll over their 401(k) balance to another retirement account, cash it out (which may incur penalties), or leave it in the EnLink Midstream plan if allowed.

   Is there a vesting schedule for the company match in EnLink Midstream's 401(k) plan?

   Yes, EnLink Midstream has a vesting schedule for the company match, meaning employees must work for a certain period before they fully own the matched contributions.

   How often can employees change their contribution amounts in EnLink Midstream's 401(k) plan?

   Employees at EnLink Midstream can typically change their contribution amounts at any time, subject to the plan's guidelines.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Eastman Chemical offers a comprehensive 401(k) plan that includes both traditional and Roth options. Employees at Eastman Chemical are automatically enrolled with a 7% deferral rate, with an annual "Auto Increase" feature that raises this rate by 1% each year until it reaches 10%. The company matches 50% of employee contributions up to 7%. Additionally, Eastman Chemical contributes a Retirement Savings Contribution (RSC), equivalent to 5% of the employee's RSC-eligible earnings, which is separate from employee contributions. Employees can further enhance their retirement savings through after-tax contributions, and they can utilize Roth in-plan conversions to potentially grow tax-free retirement income​ (MyEastmanBenefits)​ (MyEastmanBenefits). Eastman Chemical's pension plan is a defined benefit plan, where employees accrue benefits based on a combination of years of service and age qualification. However, specific details about the pension formula, years of service, and age qualification were not available in the sources consulted, and further document review would be necessary to obtain this data.
   Restructuring and Layoffs: In 2023, EnLink Midstream announced a strategic restructuring aimed at optimizing operations and reducing costs. This included a reduction in workforce to streamline management and enhance operational efficiency. The company cited market conditions and operational challenges as reasons for these changes. The layoffs were part of a broader initiative to align resources with strategic priorities. Importance: Addressing this news is crucial given the current economic environment, where companies are under pressure to adapt to market fluctuations and regulatory changes. The impact of such restructuring on employees and stakeholders, especially in a volatile economic climate, underscores the importance of staying informed about these developments.
   EnLink Midstream offers its employees various stock options and Restricted Stock Units (RSUs) as part of its executive compensation packages. The RSUs are awarded under the company's incentive plan, and eligibility extends to executives and key personnel who contribute to the company's growth​ (EnLink Midstream)​ (FinViz). EnLink Midstream employees receive these RSUs with vesting schedules typically tied to performance metrics and tenure within the company. Stock options are also available but are generally reserved for senior executives​ (EnLink Midstream)​ (EnLink Midstream). EnLink Midstream's stock options and RSUs play a crucial role in aligning employee incentives with shareholder value. The company expanded its RSU awards in 2022, 2023, and 2024 to support long-term employee retention and performance​ (EnLink Midstream)​ (Stock Analysis). Senior management and key employees are the primary recipients of these stock options, with vesting conditions tied to financial milestones such as EBITDA growth​
   Benefits Overview: EnLink Midstream provides a comprehensive benefits package that includes medical, dental, and vision insurance. Employees can also access health savings accounts (HSAs), flexible spending accounts (FSAs), and various wellness programs. Healthcare Terms: HSA: Health Savings Account FSA: Flexible Spending Account EAP: Employee Assistance Program