What Knight-Swift Transportation Holdings Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Knight-Swift Transportation Holdings Knight-Swift Transportation Holdings primarily uses UnitedHealthcare as their healthcare provider for employees. This partnership allows them to offer a range of health insurance products, including comprehensive coverage plans designed to meet the needs of their diverse workforce. Brief Overview of Potential Healthcare Cost Increases in 2026 As we approach 2026, Knight-Swift Transportation Holdings faces the potential for significant healthcare cost increases, driven by sharply rising Affordable Care Act (ACA) premiums across many states. Current projections indicate that premium hikes could exceed 60% in certain markets, exacerbated by the expiration of enhanced federal subsidies. Without legislative action to extend these subsidies, nearly 22 million marketplace enrollees may see their out-of-pocket healthcare costs surge by over 75%. This convergence of steep rate increases and subsidy loss poses substantial financial challenges for both the company and its employees, necessitating proactive financial planning to mitigate the impact on healthcare expenses. Click here to learn more

For example, Knight-Swift Transportation 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 Knight-Swift Transportation 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 Knight-Swift Transportation 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 Knight-Swift Transportation Holdings employees.

Simply for political, economic, and social reasons, many Knight-Swift Transportation 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 Knight-Swift Transportation 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 Knight-Swift Transportation 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, Knight-Swift Transportation 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. 'Knight-Swift Transportation 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 Knight-Swift Transportation Holdings?

   The 401(k) plan at Knight-Swift Transportation Holdings is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

   How does Knight-Swift Transportation Holdings match employee contributions to the 401(k) plan?

   Knight-Swift Transportation Holdings offers a matching contribution up to a certain percentage of the employee's salary, helping to boost retirement savings.

   When can employees of Knight-Swift Transportation Holdings enroll in the 401(k) plan?

   Employees of Knight-Swift Transportation Holdings can typically enroll in the 401(k) plan during their initial employment onboarding or during the annual open enrollment period.

   What types of investment options are available in the Knight-Swift Transportation Holdings 401(k) plan?

   The 401(k) plan at Knight-Swift Transportation Holdings offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   Is there a vesting schedule for the contributions made by Knight-Swift Transportation Holdings to the 401(k) plan?

   Yes, Knight-Swift Transportation Holdings has a vesting schedule that determines how long employees must work to fully own the company’s matching contributions.

   Can employees of Knight-Swift Transportation Holdings take loans against their 401(k) savings?

   Yes, employees of Knight-Swift Transportation Holdings may be able to take loans against their 401(k) savings, subject to specific plan rules and limits.

   What happens to the 401(k) plan if an employee leaves Knight-Swift Transportation Holdings?

   If an employee leaves Knight-Swift Transportation Holdings, they can roll over their 401(k) balance into another retirement account, cash out, or leave it in the plan if allowed.

   How can employees access their 401(k) account information at Knight-Swift Transportation Holdings?

   Employees can access their 401(k) account information through the plan’s online portal or by contacting the plan administrator for assistance.

   Does Knight-Swift Transportation Holdings provide educational resources about the 401(k) plan?

   Yes, Knight-Swift Transportation Holdings provides educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.

   Are there any fees associated with the Knight-Swift Transportation Holdings 401(k) plan?

   Yes, there may be administrative and investment fees associated with the Knight-Swift Transportation Holdings 401(k) plan, which are disclosed in the plan documents.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Employee Pension Plan: Name of Plan: Review the most recent plan documents or annual reports. Years of Service and Age Qualification: Look into the eligibility criteria, which often involves a certain number of years of service or a minimum age requirement. Pension Formula: This will detail how the pension benefit is calculated based on years of service, salary, and other factors. 401(k) Plan: Name of Plan: Identify the specific name of the 401(k) plan offered. Eligibility: Determine who qualifies for participation in the 401(k) plan, including any service or age requirements.
   Restructuring and Layoffs: In early 2024, Knight-Swift Transportation Holdings announced a significant restructuring plan aimed at streamlining operations and improving efficiency. This restructuring involved the reduction of approximately 200 positions across various departments. This move comes as the company seeks to adapt to evolving economic conditions and increased competition in the transportation sector. Addressing this news is crucial due to the current economic climate, which impacts job security and corporate stability. Understanding these changes helps employees and investors navigate the shifting landscape and make informed decisions.
   Stock Options: Knight-Swift offers stock options as part of its employee compensation package, which allows employees to purchase company stock at a set price. Stock options are typically granted to executives and key employees as part of their incentive compensation. RSUs: Restricted Stock Units are also granted to employees, with vesting schedules that depend on continued employment and/or performance metrics. RSUs convert into actual shares of stock upon vesting.
   2023 Updates: Knight-Swift made several adjustments to their benefits offerings, including enhanced mental health support and wellness initiatives. There was a focus on expanding telehealth services in response to increased demand. 2024 Changes: The company introduced new plan options with lower deductibles and increased coverage for preventative care. There were also efforts to improve access to care for remote employees