What News Corp. Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for News Corp: News Corp employees typically utilize the health insurance plans provided through the Affordable Care Act (ACA) marketplace, as well as any employer-sponsored health insurance options that may be available. Potential Healthcare Cost Increases in 2026: In 2026, employees at News Corp could face significant increases in healthcare costs as premiums for ACA marketplace plans are predicted to soar. Factors such as rising medical expenses, the potential end of enhanced federal premium subsidies, and aggressive rate hikes from major insurers could result in an average premium increase exceeding 75% for many enrollees. Specifically, some states may witness individual market hikes as high as 66.4%. This combination of factors is set to strain budgets and access to affordable healthcare for many employees. Click here to learn more

For example, News Corp. 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 News Corp. 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 News Corp. 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 News Corp. employees.

Simply for political, economic, and social reasons, many News Corp. 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 News Corp..

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 News Corp. 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, News Corp. 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. 'News Corp. 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 savings plan does News Corp. offer to its employees?

   News Corp. offers a 401(k) retirement savings plan to its employees.

   Does News Corp. provide matching contributions to its 401(k) plan?

   Yes, News Corp. provides matching contributions to eligible employees participating in the 401(k) plan.

   How can employees of News Corp. enroll in the 401(k) plan?

   Employees of News Corp. can enroll in the 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.

   What is the eligibility requirement for News Corp. employees to participate in the 401(k) plan?

   Generally, News Corp. employees must be at least 21 years old and have completed a certain period of service to be eligible for the 401(k) plan.

   Can News Corp. employees take loans against their 401(k) savings?

   Yes, News Corp. allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

   What investment options are available in the News Corp. 401(k) plan?

   The News Corp. 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   How often can News Corp. employees change their 401(k) contribution amounts?

   News Corp. employees can change their 401(k) contribution amounts at any time, subject to the plan's guidelines.

   Is there a vesting schedule for News Corp.’s matching contributions in the 401(k) plan?

   Yes, News Corp. has a vesting schedule for its matching contributions, which means employees must work for a certain period before they fully own the matched funds.

   What happens to the 401(k) savings if a News Corp. employee leaves the company?

   If a News Corp. employee leaves the company, they can choose to roll over their 401(k) savings into another retirement account, cash out, or leave the funds in the News Corp. plan if eligible.

   Does News Corp. offer financial education resources for employees regarding the 401(k) plan?

   Yes, News Corp. provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.