What Expeditors Intl. of Washington Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Expeditors International of Washington Expeditors International of Washington primarily partners with major healthcare providers to offer employee health benefits. Typically, these include national insurers such as UnitedHealthcare, Anthem (Elevance Health), and Kaiser Permanente, among others. Employees are encouraged to choose plans that fit their specific healthcare needs. Potential Healthcare Cost Increases in 2026 As we approach 2026, healthcare costs are expected to surge significantly for employees of Expeditors International of Washington, largely driven by the anticipated expiration of enhanced premiums under the Affordable Care Act. Without these subsidies, many individuals could face premium increases exceeding 75%, impacting affordability and access to care. Coupled with rising medical costs and higher drug spending, these changes may create substantial financial burdens for employees and retirees alike, necessitating proactive budgeting and health planning. Click here to learn more

For example, Expeditors Intl. of Washington 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 Expeditors Intl. of Washington 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 Expeditors Intl. of Washington 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 Expeditors Intl. of Washington employees.

Simply for political, economic, and social reasons, many Expeditors Intl. of Washington 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 Expeditors Intl. of Washington.

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 Expeditors Intl. of Washington 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, Expeditors Intl. of Washington 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. 'Expeditors Intl. of Washington 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 Expeditors Intl. of Washington offer to its employees?

   Expeditors Intl. of Washington offers a 401(k) retirement savings plan to help employees save for their future.

   How can I enroll in the 401(k) plan at Expeditors Intl. of Washington?

   Employees can enroll in the 401(k) plan at Expeditors Intl. of Washington by completing the enrollment form available through the HR portal.

   Does Expeditors Intl. of Washington match employee contributions to the 401(k) plan?

   Yes, Expeditors Intl. of Washington provides a matching contribution to employee 401(k) contributions, subject to certain limits.

   What is the maximum contribution limit for the 401(k) plan at Expeditors Intl. of Washington?

   The maximum contribution limit for the 401(k) plan at Expeditors Intl. of Washington follows the IRS guidelines, which are updated annually.

   Can I change my contribution percentage to the 401(k) plan at Expeditors Intl. of Washington?

   Yes, employees can change their contribution percentage at any time through the HR portal or by contacting HR at Expeditors Intl. of Washington.

   When can I start withdrawing from my 401(k) plan at Expeditors Intl. of Washington?

   Employees can typically start withdrawing from their 401(k) plan at Expeditors Intl. of Washington after reaching the age of 59½, subject to plan rules.

   Are there any penalties for early withdrawal from the 401(k) plan at Expeditors Intl. of Washington?

   Yes, early withdrawals from the 401(k) plan at Expeditors Intl. of Washington may incur penalties and taxes, as per IRS regulations.

   What investment options are available in the 401(k) plan at Expeditors Intl. of Washington?

   The 401(k) plan at Expeditors Intl. of Washington offers a variety of investment options, including mutual funds and target-date funds.

   How often can I change my investment options in the 401(k) plan at Expeditors Intl. of Washington?

   Employees can change their investment options in the 401(k) plan at Expeditors Intl. of Washington as often as they wish, typically with no restrictions on frequency.

   Is there a vesting schedule for the employer match in the 401(k) plan at Expeditors Intl. of Washington?

   Yes, Expeditors Intl. of Washington has a vesting schedule for employer matching contributions, which employees should review in the plan documents.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Expeditors International of Washington, Inc. offers a robust 401(k) plan with automatic enrollment and company matching contributions. At the end of 2022, Expeditors' 401(k) plan had total assets of $839,061,386, with 9,224 participants. The average retirement account value per participant in 2022 was $90,965. Employees contributed an average of $6,619 annually, with the company matching approximately $1,947 per employee, amounting to 30.92% of employee contributions​ (Smart 40K Plus). The plan includes automatic enrollment and default investments for employees who do not actively manage their account allocations. Expeditors does not appear to have a defined benefit pension plan but operates a defined contribution plan, making the 401(k) plan their primary retirement vehicle. The company encourages long-term saving by offering a straightforward employer match, providing employees with additional retirement security. Expeditors' matching contributions totaled $17,965,349 in 2022. The investment growth rate in 2022 was notably affected by market fluctuations, showing a -14.04% growth rate​
   Restructuring and Layoffs: In 2023, Expeditors International of Washington announced a strategic restructuring plan aimed at streamlining operations and improving efficiency. This plan included a reduction in workforce across several departments. The decision was driven by the need to adapt to shifting market conditions and optimize operational costs. It is crucial to follow this news due to the current economic environment, which is characterized by volatility and uncertainty in global trade and logistics. Understanding these changes can provide insights into broader industry trends and potential impacts on job security and organizational stability.
   Expeditors International of Washington offers stock options and RSUs to certain employees. Stock options are granted based on performance and tenure, while RSUs are typically awarded to senior management and key employees. According to the 2023 Proxy Statement (page 45), the company provides these incentives to align employee interests with company performance.
   Health Benefits Section: The website should provide detailed information about the health insurance plans, types of coverage, and any recent changes for 2022-2024. Business and Financial News Websites: Recent Articles: Search for any news articles on employee benefits changes, cost adjustments, or healthcare-related updates. Job Review Sites: Employee Feedback: Review employee testimonials and ratings for insights into healthcare benefits and satisfaction. Industry News Websites: Trends and Comparisons: Investigate if there are any reports on how Expeditors' benefits compare with industry standards. Healthcare Benefit Platforms: Benefit Analysis: Look for any detailed reports or reviews on healthcare plans provided by Expeditors International.