What JELD-WEN Holding Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for JELD-WEN Holding JELD-WEN Holding, as a significant employer in the manufacturing sector, typically engages with a variety of healthcare providers. While specific providers may vary depending on location and plan offerings, companies like Aetna, Cigna, and UnitedHealthcare are commonly involved in providing health insurance options for employees. Potential Healthcare Cost Increases for JELD-WEN Holding in 2026 As JELD-WEN Holding prepares for 2026, employees should be aware of significant potential increases in healthcare costs. With premiums in the Affordable Care Act (ACA) marketplace expected to rise sharply-some states forecasting hikes of over 60%-many employees may face higher out-of-pocket expenses. The combined effects of soaring medical costs, the anticipated expiration of enhanced federal premium subsidies, and a shift in employer strategies to pass on more costs could mean a financial burden for workers. It is essential for employees to engage with benefit adjustments proactively and strategize their healthcare plans in advance to mitigate these increases. Click here to learn more

For example, JELD-WEN Holding 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 JELD-WEN Holding 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 JELD-WEN Holding 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 JELD-WEN Holding employees.

Simply for political, economic, and social reasons, many JELD-WEN Holding 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 JELD-WEN Holding.

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 JELD-WEN Holding 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, JELD-WEN Holding 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. 'JELD-WEN Holding 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 plan does JELD-WEN Holding offer to its employees?

   JELD-WEN Holding offers a 401(k) retirement savings plan to its employees.

   Is JELD-WEN Holding's 401(k) plan available to all employees?

   Yes, the 401(k) plan at JELD-WEN Holding is available to all eligible employees.

   What is the employer match for the 401(k) plan at JELD-WEN Holding?

   JELD-WEN Holding provides a matching contribution for employee contributions to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.

   How can employees enroll in the 401(k) plan at JELD-WEN Holding?

   Employees can enroll in the 401(k) plan at JELD-WEN Holding through the company’s benefits portal or by contacting the HR department for assistance.

   What investment options are available in JELD-WEN Holding's 401(k) plan?

   JELD-WEN Holding's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   Can employees take loans against their 401(k) at JELD-WEN Holding?

   Yes, JELD-WEN Holding allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

   What is the vesting schedule for employer contributions in JELD-WEN Holding's 401(k) plan?

   The vesting schedule for employer contributions at JELD-WEN Holding typically follows a graded schedule, where employees become vested over a period of time.

   How often can employees change their contribution amounts to the 401(k) plan at JELD-WEN Holding?

   Employees at JELD-WEN Holding can change their contribution amounts to the 401(k) plan at any time, subject to plan rules.

   What is the maximum contribution limit for the 401(k) plan at JELD-WEN Holding?

   The maximum contribution limit for the 401(k) plan at JELD-WEN Holding is determined by IRS regulations, which may change annually.

   Does JELD-WEN Holding offer a Roth 401(k) option?

   Yes, JELD-WEN Holding offers a Roth 401(k) option, allowing employees to make after-tax contributions.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   JELD-WEN Holding, Inc. Pension Plan Years of Service and Age Qualification: Employees are eligible for the pension plan after reaching 5 years of service and the age of 55. Pension Formula: The formula for calculating the pension benefit is based on years of service and average compensation. Name of 401(k) Plan: JELD-WEN Holding, Inc. 401(k) Savings Plan Who Qualifies: Employees are eligible to participate in the 401(k) plan immediately upon employment.
   Restructuring and Layoffs: In 2023, JELD-WEN announced a significant restructuring plan aimed at improving operational efficiency and reducing costs. The plan included the closure of several manufacturing facilities and a reduction in the workforce. This move was driven by challenges in the housing market and increased raw material costs, impacting the company’s profitability. The restructuring was intended to streamline operations and better position JELD-WEN for future growth. Source: Business Insider
   JELD-WEN Holding provided stock options and RSUs as part of its compensation package for eligible employees, including executives and senior management. The stock options typically had a 4-year vesting period with a 1-year cliff. RSUs were granted based on individual performance and tenure.
   Company Website: Review JELD-WEN Holding's official website for their health benefits details. Financial Reports and Investor Relations: Look for any health benefits information in their annual reports or investor presentations. News Outlets: Search for recent news articles about JELD-WEN that might mention changes to employee healthcare benefits. Employment Review Sites: Check employment review websites like Glassdoor or Indeed for employee reviews discussing health benefits. Industry News: Look into industry-specific news sources for any updates related to JELD-WEN’s healthcare policies