What FTI Consulting Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: FTI Consulting provides its U.S. employees with a comprehensive benefits package that includes medical, dental, and vision coverage. Employees can also access Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), life and disability insurance, and mental health support. Additional perks include paid parental leave, tuition reimbursement, and a 401(k) plan with matching contributions 2. Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

For example, FTI Consulting 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 FTI Consulting 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 FTI Consulting 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 FTI Consulting employees.

Simply for political, economic, and social reasons, many FTI Consulting 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 FTI Consulting.

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 FTI Consulting 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, FTI Consulting 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. 'FTI Consulting 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 FTI Consulting?

   The 401(k) plan at FTI Consulting is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, which can help reduce their taxable income.

   How can employees enroll in FTI Consulting's 401(k) plan?

   Employees can enroll in FTI Consulting's 401(k) plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.

   Does FTI Consulting match employee contributions to the 401(k) plan?

   Yes, FTI Consulting offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

   What is the maximum contribution limit for FTI Consulting's 401(k) plan?

   The maximum contribution limit for FTI Consulting's 401(k) plan is determined by the IRS guidelines, which can change annually. Employees should check the latest limits for the current year.

   When can employees start contributing to FTI Consulting's 401(k) plan?

   Employees at FTI Consulting can typically start contributing to the 401(k) plan after completing a specified waiting period, which is outlined in the plan documents.

   What investment options are available in FTI Consulting's 401(k) plan?

   FTI Consulting'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.

   Can employees take loans against their 401(k) accounts at FTI Consulting?

   Yes, FTI Consulting allows employees to take loans against their 401(k) accounts, subject to the terms and conditions outlined in the plan.

   What happens to an employee's 401(k) account if they leave FTI Consulting?

   If an employee leaves FTI Consulting, they have several options for their 401(k) account, including rolling it over to a new employer's plan, an IRA, or cashing it out, subject to taxes and penalties.

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

   Employees at FTI Consulting can change their contribution amounts at designated times throughout the year, as specified in the plan guidelines.

   Is there a vesting schedule for FTI Consulting's 401(k) matching contributions?

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

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   FTI Consulting offers a comprehensive benefits package, including retirement plans and a 401(k) plan designed to support employees throughout their careers. FTI Consulting provides a defined contribution plan for retirement, which includes employer matching contributions to the employee's 401(k) account. According to sources, the company offers a 5% match for employee contributions. Employees are eligible for immediate participation in the 401(k) plan upon hire, without a waiting period, and employer contributions vest after three years of service​ (FTI Consulting)​ (FTI Consulting). The company's 401(k) plan is referred to as the FTI Consulting 401(k) Plan, and employees can contribute a portion of their salary pre-tax, which is matched by the company up to 5%. Additionally, FTI Consulting offers a traditional pension plan as part of its defined benefit program. This pension plan provides 3% contributions from employees, with the company contributing an additional 5%, ensuring a robust financial security framework for long-term employees​
   In 2023, FTI Consulting announced a restructuring plan that involved streamlining its operations to focus on its core services. This restructuring included layoffs in several departments, particularly affecting support roles and administrative positions. The changes were part of a broader effort to enhance operational efficiency and adapt to evolving market conditions. Understanding these developments is crucial due to the current economic environment, which emphasizes the need for companies to remain agile and cost-effective amid economic uncertainties.
   FTI Consulting offers stock options and RSUs as part of its employee compensation package. Stock options typically come with a vesting period and are granted based on employee performance and tenure. RSUs are also granted to employees, usually based on performance metrics and role within the company.
   Search for employee reviews and benefits information on Glassdoor, where employees often discuss their healthcare benefits and overall satisfaction with the company. Indeed: Look up FTI Consulting's company profile on Indeed to see if there are any reviews or posted details about health benefits and related employee experiences. LinkedIn: Check LinkedIn for posts or updates related to FTI Consulting’s health benefits from current or former employees.