What Fidelity National Information Services Employees Need to Consider Before Making the Leap to Retire Abroad

For example, Fidelity National Information Services 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 Fidelity National Information Services 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 Fidelity National Information Services 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 Fidelity National Information Services employees.

Simply for political, economic, and social reasons, many Fidelity National Information Services 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 Fidelity National Information Services.

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 Fidelity National Information Services 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, Fidelity National Information Services 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. 'Fidelity National Information Services 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 401(k) plan offered by Fidelity National Information Services?

   The 401(k) plan at Fidelity National Information Services is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.

   How can employees of Fidelity National Information Services enroll in the 401(k) plan?

   Employees can enroll in the 401(k) plan by accessing the benefits portal provided by Fidelity National Information Services and completing the enrollment process online.

   What are the contribution limits for the 401(k) plan at Fidelity National Information Services?

   The contribution limits for the 401(k) plan at Fidelity National Information Services are set annually by the IRS, and employees should refer to the current IRS guidelines for the latest limits.

   Does Fidelity National Information Services offer matching contributions to the 401(k) plan?

   Yes, Fidelity National Information Services offers matching contributions to the 401(k) plan, which helps employees increase their retirement savings.

   What investment options are available in the Fidelity National Information Services 401(k) plan?

   The 401(k) plan at Fidelity National Information Services includes a variety of investment options, such as mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

   Can employees of Fidelity National Information Services take loans against their 401(k) savings?

   Yes, employees of Fidelity National Information Services may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.

   What happens to my 401(k) account if I leave Fidelity National Information Services?

   If you leave Fidelity National Information Services, you can choose to roll over your 401(k) account to another qualified retirement plan, cash it out, or leave it in the Fidelity National Information Services plan if allowed.

   How often can employees change their contribution amounts to the 401(k) plan at Fidelity National Information Services?

   Employees at Fidelity National Information Services can typically change their contribution amounts at any time, subject to the plan's specific rules.

   Is there a vesting schedule for employer contributions in the Fidelity National Information Services 401(k) plan?

   Yes, Fidelity National Information Services has a vesting schedule for employer contributions, which determines how much of the employer's contributions an employee is entitled to based on their length of service.

   How can I access my 401(k) account information at Fidelity National Information Services?

   Employees can access their 401(k) account information through the benefits portal provided by Fidelity National Information Services or by contacting the plan administrator.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Fidelity National Information Services (FIS) offers its employees the Fidelity National Information Services, Inc. 401(k) Profit Sharing Plan through Vanguard, covering approximately 27,995 employees. The 401(k) plan includes both employee and employer contributions, with limits set by the IRS. In 2023, the maximum employee contribution to the 401(k) was $22,500, and this limit rose to $23,000 in 2024. Employees aged 50 and older are eligible for an additional catch-up contribution of $7,500, raising their total possible contribution to $30,000 in 2023 and $30,500 in 2024. Fidelity National Information Services employees can benefit from both traditional and Roth 401(k) options under this plan, which is managed through Vanguard​ (Capitalize)​ (FidelityWorkplace). The company's 401(k) plan includes employer contributions, allowing employees to benefit from profit-sharing when the company performs well. Combined employee and employer contributions were capped at $66,000 in 2023 and increased to $69,000 in 2024
   Restructuring and Layoffs: In early 2023, FIS announced a significant restructuring plan aimed at optimizing its operations and reducing costs. This involved a reduction in workforce by approximately 6% to streamline its operations and enhance profitability. The company cited the need to adapt to the evolving market demands and competitive landscape as key reasons for these changes. Importance: Given the current economic uncertainty and the shifting landscape of the financial services industry, it is crucial to monitor these developments. The restructuring efforts reflect broader trends in the sector, impacted by economic conditions, investment strategies, and regulatory changes. Understanding these adjustments can provide insights into how companies are navigating the economic environment and managing their resources.
   Fidelity National Information Services (FIS): In 2022, FIS provided stock options and RSUs to its employees as part of its compensation package. The stock options are typically granted to key employees and executives, while RSUs are offered more broadly across various levels of the company. This practice aligns with FIS's goal to attract and retain top talent. Fidelity National Information Services (FIS): For 2023, FIS continued offering stock options and RSUs. Stock options generally come with a vesting schedule, rewarding long-term commitment, while RSUs are often granted with performance-based vesting criteria. These incentives are designed to align employees' interests with the company's long-term goals. Fidelity National Information Services (FIS): In 2024, FIS has updated its stock options and RSU policies, focusing on increasing their competitive edge in the market. RSUs are commonly granted to senior employees and high performers, with stock options being allocated to executives and strategic hires. This approach helps FIS to maintain a motivated and engaged workforce.
   Fidelity National Information Services' Financial and Industry Publications: Sources like Bloomberg, Reuters, or industry-specific publications often cover employee benefits in detail. Employee Reviews and Forums: Websites like Glassdoor or Indeed may have reviews and posts from current or former employees discussing their experiences with health benefits. Government and Legal Sources: Resources like the Department of Labor or legal databases might provide information on any recent changes or compliance issues related to employee benefits.