What Jones Lang LaSalle Employees Need to Consider Before Making the Leap to Retire Abroad

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For example, Jones Lang LaSalle 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 Jones Lang LaSalle 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 Jones Lang LaSalle 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 Jones Lang LaSalle employees.

Simply for political, economic, and social reasons, many Jones Lang LaSalle 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 Jones Lang LaSalle.

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 Jones Lang LaSalle 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, Jones Lang LaSalle 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. 'Jones Lang LaSalle 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 Jones Lang LaSalle?

   The 401(k) plan at Jones Lang LaSalle 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.

   Does Jones Lang LaSalle match employee contributions to the 401(k) plan?

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

   How can employees at Jones Lang LaSalle enroll in the 401(k) plan?

   Employees can enroll in the 401(k) plan at Jones Lang LaSalle by accessing the benefits portal or contacting the HR department for assistance.

   What types of investment options are available in the Jones Lang LaSalle 401(k) plan?

   The Jones Lang LaSalle 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

   When can employees at Jones Lang LaSalle start contributing to their 401(k) plan?

   Employees at Jones Lang LaSalle can typically start contributing to their 401(k) plan after completing their initial eligibility period, which is outlined in the employee handbook.

   Is there a vesting schedule for the employer match in the Jones Lang LaSalle 401(k) plan?

   Yes, Jones Lang LaSalle has a vesting schedule for the employer match, which means employees must work for a certain period to fully own the matched contributions.

   Can employees take loans against their 401(k) savings at Jones Lang LaSalle?

   Yes, employees can take loans against their 401(k) savings at Jones Lang LaSalle, subject to specific terms and conditions outlined in the plan documents.

   What happens to the 401(k) plan if an employee leaves Jones Lang LaSalle?

   If an employee leaves Jones Lang LaSalle, they have several options for their 401(k) plan, including rolling it over to an IRA or a new employer's plan, or cashing it out.

   How often can employees change their contribution rate to the Jones Lang LaSalle 401(k) plan?

   Employees at Jones Lang LaSalle can change their contribution rate to the 401(k) plan at designated times throughout the year, as specified in the plan guidelines.

   Are there any fees associated with the 401(k) plan at Jones Lang LaSalle?

   Yes, there may be fees associated with the 401(k) plan at Jones Lang LaSalle, which are disclosed in the plan documents and can vary based on investment choices.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Plan Name: Jones Lang LaSalle Employee Pension Plan Years of Service and Age Qualification: Employees typically need to complete a minimum number of years of service to qualify for the pension plan. The specific requirements can vary based on the plan’s terms. Pension Formula: The pension formula used by Jones Lang LaSalle is based on factors such as years of service, salary history, and age at retirement. The exact formula can be found in the pension plan documentation. Qualification for 401(k) Plan: Eligibility for the 401(k) plan generally includes all full-time employees who meet certain service and age requirements. 401(k) Plan Name: Jones Lang LaSalle 401(k) Plan
   Layoffs and Restructuring: In early 2023, Jones Lang LaSalle (JLL) announced a significant restructuring plan, including the reduction of around 5% of its global workforce. This move was attributed to the company's strategy to streamline operations and adapt to changing market conditions. The reduction affects various departments, particularly those in support functions. It’s important to follow this news given the current economic climate, as companies are reassessing their structures amid economic uncertainty and shifting investment priorities. Understanding these changes can provide insights into broader market trends and potential impacts on employee benefits and job security. Changes to Benefits and Retirement Plans: In mid-2023, JLL also updated its employee benefits, including modifications to its pension and 401(k) plans. The company reduced its matching contributions to 401(k) plans and revised its pension plan options to align with its new business strategy and cost management efforts. These changes come as part of JLL's broader efforts to optimize financial performance amid fluctuating economic conditions. Monitoring these adjustments is crucial as they reflect broader trends in corporate benefits adjustments, influenced by tax and investment factors, and can impact employee retirement planning and financial security.
   Stock Options: Jones Lang LaSalle (JLL) offered stock options primarily to senior executives and high-level employees in 2022. The company used stock options to align executives' interests with shareholders' interests. JLL’s stock options were generally tied to performance metrics and long-term strategic goals. RSUs: In 2022, Restricted Stock Units (RSUs) at Jones Lang LaSalle (JLL) were granted to employees across various levels, including middle management and above. RSUs served as a retention tool and were often granted based on performance evaluations and tenure. JLL utilized RSUs to provide employees with ownership stakes in the company, typically vesting over a period of time.
   Health Benefits Information: JLL provides a comprehensive benefits package, including medical, dental, and vision coverage. They also offer health savings accounts (HSAs) and flexible spending accounts (FSAs). Specific details for 2022-2024 can be found in the benefits section of their career page or employee handbook, though exact details may vary based on location and employment status. Acronyms and Terms: HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), PPO (Preferred Provider Organization), HMO (Health Maintenance Organization).