What Mattel Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Mattel Mattel's employee healthcare services are primarily provided by major insurers like UnitedHealthcare and Anthem Blue Cross Blue Shield (BCBS), which offer a variety of plans tailored to meet the needs of their workforce. Potential Healthcare Cost Increases for Mattel in 2026 As we approach 2026, Mattel employees may face rising healthcare costs amidst a backdrop of significant premium increases in the Affordable Care Act (ACA) marketplace. With state filings revealing potential hikes as high as 66.4% in some areas, many employees could see their out-of-pocket expenses rise drastically if enhanced federal subsidies are not extended. As large companies look to transfer more healthcare costs to workers, including increased deductibles and out-of-pocket maximums, it is essential for Mattel employees to review benefit options closely and strategize their healthcare spending to mitigate the financial impact. The shift in costs could result in households facing thousands of dollars in additional healthcare expenses for similar or reduced coverage. Click here to learn more

For example, Mattel 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 Mattel 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 Mattel 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 Mattel employees.

Simply for political, economic, and social reasons, many Mattel 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 Mattel.

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 Mattel 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, Mattel 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. 'Mattel 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 retirement savings plan does Mattel offer to its employees?

   Mattel offers a 401(k) Savings Plan to help employees save for retirement.

   How can Mattel employees enroll in the 401(k) Savings Plan?

   Mattel employees can enroll in the 401(k) Savings Plan through the company's benefits portal during the open enrollment period or upon eligibility.

   Does Mattel match employee contributions to the 401(k) Savings Plan?

   Yes, Mattel provides a matching contribution to the 401(k) Savings Plan, which helps boost employees' retirement savings.

   What is the maximum contribution limit for Mattel's 401(k) Savings Plan?

   The maximum contribution limit for Mattel's 401(k) Savings Plan aligns with IRS guidelines, which may change annually.

   Can Mattel employees change their contribution percentage to the 401(k) Savings Plan?

   Yes, Mattel employees can change their contribution percentage at any time through the benefits portal.

   What investment options are available in Mattel's 401(k) Savings Plan?

   Mattel's 401(k) Savings Plan offers a variety of investment options, including mutual funds and target-date funds, to suit different risk tolerances.

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

   Yes, Mattel has a vesting schedule for its matching contributions, which means employees must work for the company for a certain period to fully own those funds.

   When can Mattel employees access their 401(k) Savings Plan funds?

   Mattel employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, as defined by the plan.

   Does Mattel offer any financial education resources for employees regarding the 401(k) Savings Plan?

   Yes, Mattel provides financial education resources and workshops to help employees understand their 401(k) Savings Plan options.

   Are loans available from Mattel's 401(k) Savings Plan?

   Yes, Mattel allows employees to take loans from their 401(k) Savings Plan under certain conditions.