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

Healthcare Provider Update: Healthcare Provider for Nike For its employees, Nike primarily collaborates with UnitedHealthcare as its healthcare provider. This partnership facilitates access to a range of insurance plans that cater to the health needs of its workforce. --- Healthcare Cost Increases for Nike in 2026 In 2026, Nike employees may face significant increases in healthcare costs, as the Affordable Care Act (ACA) marketplace anticipates sharp premium hikes across the country. With some states projected to see premium increases exceeding 60%, Nike may adjust its benefits in response to soaring medical expenses. Factors such as the expiration of enhanced federal subsidies and ongoing medical cost inflation could force Nike to pass more expenses onto employees, making it crucial for workers to review their health plans and financial strategies ahead of these changes. As employers like Nike navigate these economic pressures, employees are urged to stay informed about potential impacts on out-of-pocket costs and consider their options thoughtfully. Click here to learn more

For example, Nike 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 Nike 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 Nike 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 Nike employees.

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

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 Nike 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, Nike 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. 'Nike 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 Nike offer to its employees?

   Nike offers a 401(k) retirement savings plan to help employees save for their future.

   Does Nike provide a company match for contributions made to the 401(k) plan?

   Yes, Nike provides a company match on employee contributions to the 401(k) plan, which helps boost retirement savings.

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

   Nike employees are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

   Can Nike employees choose how their 401(k) contributions are invested?

   Yes, Nike employees have the option to choose from a variety of investment options within the 401(k) plan, allowing them to tailor their investment strategy.

   What is the maximum contribution limit for Nike employees participating in the 401(k) plan?

   The maximum contribution limit for Nike employees is set by the IRS and may change annually; employees should check the latest guidelines for the current limit.

   Are there any fees associated with Nike's 401(k) plan?

   Yes, like most 401(k) plans, Nike's plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

   Does Nike allow employees to take loans against their 401(k) savings?

   Yes, Nike allows eligible employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

   What happens to my 401(k) savings if I leave Nike?

   If you leave Nike, you can choose to roll over your 401(k) savings into another retirement account, cash out, or leave it in the Nike plan if allowed.

   How can Nike employees access their 401(k) account information?

   Nike employees can access their 401(k) account information through the company’s designated retirement plan website or by contacting the plan administrator.

   Does Nike offer any educational resources to help employees understand their 401(k) options?

   Yes, Nike provides educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Nike offers a defined contribution 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and Nike matches 100% of the first 5% of eligible compensation. The plan includes various investment options, such as target-date funds, mutual funds, and a self-directed brokerage account. Nike also provides an Employee Stock Purchase Plan (ESPP) with a discount on company stock. Financial planning resources and tools are available to help employees manage their retirement savings.
   Nike offers RSUs that vest over time, providing shares upon vesting. Stock options are also part of their compensation plan, allowing employees to purchase shares at a set price.