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

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For example, MDC 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 MDC 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 MDC 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 MDC Holdings employees.

Simply for political, economic, and social reasons, many MDC 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 MDC 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 MDC 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, MDC 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. 'MDC 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 MDC Holdings?

   The 401(k) plan at MDC Holdings is a retirement savings plan that allows employees to contribute a portion of their salary on a pre-tax basis, helping them save for retirement.

   Does MDC Holdings offer a matching contribution for the 401(k) plan?

   Yes, MDC Holdings provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

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

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

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

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

   Is there a vesting schedule for the matching contributions at MDC Holdings?

   Yes, MDC Holdings has a vesting schedule for matching contributions, which means employees must work for a certain period to fully own the employer's contributions.

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

   Yes, MDC Holdings allows employees to take loans against their 401(k) balance under specific conditions set forth in the plan.

   What is the minimum contribution percentage for the MDC Holdings 401(k) plan?

   The minimum contribution percentage for the MDC Holdings 401(k) plan is typically set at 1% of the employee's salary, but employees are encouraged to contribute more.

   Are there any fees associated with the MDC Holdings 401(k) plan?

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

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

   Employees can change their contribution amounts in the MDC Holdings 401(k) plan as frequently as once per pay period.

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

   If an employee leaves MDC Holdings, they have several options for their 401(k) plan, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.

   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 Plan: MDC Holdings Pension Plan Years of Service and Age Qualification: Employees typically need to complete a certain number of years of service and reach a specific age to qualify. For detailed numbers, refer to specific documents or plan summaries. Pension Formula: The pension formula is generally based on factors such as years of service and average salary. For the precise formula, refer to the plan’s official documentation. Eligibility Criteria: Generally includes full-time employees who meet the age and service requirements outlined in the plan. Name of Plan: MDC Holdings 401(k) Plan Eligibility Criteria: Eligibility typically includes full-time employees who have completed a specific period of service. Detailed eligibility requirements are outlined in the plan documents.
   Restructuring and Layoffs: MDC Holdings announced in early 2024 that it is restructuring its operations due to a downturn in the housing market. This restructuring involves laying off approximately 10% of its workforce to reduce costs and improve efficiency. The decision is a response to declining home sales and increased material costs, which have impacted profitability. Company Benefits and Pension Changes: Alongside the layoffs, MDC Holdings is revising its employee benefits and pension plans. The company is shifting from a defined benefit pension plan to a defined contribution plan. This change is aimed at reducing long-term liabilities and aligning with industry standards. Employees will see changes in their 401(k) contributions, with MDC Holdings offering a reduced matching contribution compared to previous years.
   Stock Options and RSUs: MDC Holdings provides stock options and RSUs to its employees as part of their compensation package. Stock options at MDC Holdings allow employees to purchase shares at a set price, typically lower than the market value. RSUs are granted and vest over a specified period, giving employees ownership of company shares after certain conditions are met.
   MDC Holdings Official Website: The site may include information on employee benefits under their "Careers" or "Employee Benefits" section. Look for terms such as "Medical Insurance," "Dental Coverage," "Vision Benefits," and "Health Savings Accounts (HSA)." SEC Filings: Access MDC Holdings’ 10-K or 10-Q filings from the SEC's EDGAR database to find detailed information about employee benefits and any changes in 2022, 2023, or 2024. Glassdoor and Indeed: Search for reviews from MDC Holdings employees discussing their health benefits. Look for terms like "healthcare coverage," "benefits package," "employee health insurance," and "wellness programs." Recent News Articles: Look for any news articles that discuss changes or updates to MDC Holdings’ health benefits. Terms might include "benefits update," "healthcare changes," or "employee benefits news." Benefits Review Platforms: Websites like BenefitsPro or PayScale may have detailed reviews or comparisons of MDC Holdings’ health benefits. Search for terms like "benefits comparison," "employee health benefits review," and "company benefits analysis."