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

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For example, IQVIA 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 IQVIA 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 IQVIA 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 IQVIA Holdings employees.

Simply for political, economic, and social reasons, many IQVIA 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 IQVIA 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 IQVIA 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, IQVIA 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. 'IQVIA 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 is the 401(k) plan offered by IQVIA Holdings?

   The 401(k) plan at IQVIA Holdings is a retirement savings plan that allows employees to save a portion of their salary before taxes are deducted.

   Does IQVIA Holdings match employee contributions to the 401(k) plan?

   Yes, IQVIA Holdings offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

   What is the eligibility requirement for IQVIA Holdings' 401(k) plan?

   Employees of IQVIA Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service, usually within the first year of employment.

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

   Employees can enroll in the IQVIA Holdings 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.

   What types of investment options are available in the IQVIA Holdings 401(k) plan?

   The IQVIA Holdings 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

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

   Yes, IQVIA Holdings allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.

   What happens to the 401(k) plan if an employee leaves IQVIA Holdings?

   If an employee leaves IQVIA Holdings, they have several options for their 401(k) savings, including rolling it over to another retirement account or cashing it out, though taxes and penalties may apply.

   Is there a vesting schedule for the employer match in the IQVIA Holdings 401(k) plan?

   Yes, IQVIA Holdings has a vesting schedule for the employer match, which means that employees must work for the company for a certain period before they fully own the matched contributions.

   How often can employees change their contribution percentage in the IQVIA Holdings 401(k) plan?

   Employees can change their contribution percentage to the IQVIA Holdings 401(k) plan at specified intervals, typically during open enrollment or at any time throughout the year.

   Does IQVIA Holdings provide financial education resources for employees regarding the 401(k) plan?

   Yes, IQVIA Holdings offers financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Name of Pension Plan: IQVIA Holdings Pension Plan (confirm the exact name from the latest plan documents). Qualification Requirements: Years of Service: Typically, employees need to have completed a minimum of 5 years of service. Age: Generally, employees must reach age 55 to start receiving benefits. Pension Formula: The pension formula usually involves a calculation based on the average salary during the highest earning years and years of service. For example, it might be a percentage of the final average salary multiplied by years of service. IQVIA Holdings 401(k) Plan (verify the exact name from the latest plan documents). Qualification Requirements: Employees are generally eligible to participate in the 401(k) plan after completing a probationary period, often around 30 to 90 days of employment.
   Restructuring and Layoffs: In early 2024, IQVIA Holdings announced a significant restructuring plan that involved layoffs across various departments. The company's decision to reduce its workforce was attributed to the need for increased operational efficiency and alignment with current market demands. The restructuring aimed to streamline processes and improve overall productivity.
   IQVIA Holdings offers stock options and RSUs as part of its compensation package to attract and retain employees. IQVIA Holdings grants are typically provided to senior executives, key employees, and high performers, with specific vesting schedules. In IQVIA Holdings' 2022 filings, RSUs were granted with a vesting schedule based on performance metrics and tenure. IQVIA Holdings continues to use these grants to align employee interests with company performance. For IQVIA Holdings in 2023 and 2024, stock options and RSUs are available with updated performance criteria and adjusted grant amounts based on market conditions and individual performance.
   Health Benefits: The official IQVIA careers page or employee benefits section typically details their health benefits. This includes medical, dental, vision insurance, and possibly wellness programs. Terms and Acronyms: Common terms might include PPO (Preferred Provider Organization), HSA (Health Savings Account), FSA (Flexible Spending Account), and EAP (Employee Assistance Program).