What Paramount Global Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Paramount Global Paramount Global primarily offers healthcare benefits through its arrangements with major insurers. Employees often access health insurance through the Affordable Care Act (ACA) marketplace as well as employer-sponsored health plans, provided by companies like UnitedHealthcare, which is among the top insurers in the nation. Potential Healthcare Cost Increases for 2026 As premiums for Affordable Care Act (ACA) marketplace plans are projected to surge in 2026, employees of Paramount Global should brace for a significant rise in healthcare costs. Some states may see increases exceeding 60%, driven by a combination of expiring federal subsidies and escalating medical costs. Without congressional intervention, nearly 92% of marketplace enrollees could experience premium hikes of up to 75%, placing added financial pressure on employees reliant on these plans. It is crucial for workers to stay informed and consider their options carefully to mitigate the impact of these potential increases. Click here to learn more

For example, Paramount Global 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 Paramount Global 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 Paramount Global 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 Paramount Global employees.

Simply for political, economic, and social reasons, many Paramount Global 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 Paramount Global.

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 Paramount Global 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, Paramount Global 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. 'Paramount Global 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 Paramount Global offer to its employees?

   Paramount Global offers a 401(k) retirement savings plan to its employees.

   Is there a company match for contributions made to the 401(k) plan at Paramount Global?

   Yes, Paramount Global provides a company match for employee contributions to the 401(k) plan, subject to certain limits.

   How can employees at Paramount Global enroll in the 401(k) plan?

   Employees at Paramount Global 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 participating in the 401(k) plan at Paramount Global?

   Employees must meet specific eligibility criteria, such as age and length of service, to participate in the 401(k) plan at Paramount Global.

   Can employees at Paramount Global take loans against their 401(k) savings?

   Yes, Paramount Global allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

   What investment options are available in the Paramount Global 401(k) plan?

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

   How often can employees at Paramount Global change their 401(k) contribution amount?

   Employees at Paramount Global can change their 401(k) contribution amount at any time, typically during open enrollment or through the benefits portal.

   Does Paramount Global provide educational resources for employees regarding their 401(k) plan?

   Yes, Paramount Global offers educational resources and workshops to help employees understand and manage their 401(k) savings effectively.

   What happens to the 401(k) savings if an employee leaves Paramount Global?

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

   Is there a vesting schedule for the company match in the Paramount Global 401(k) plan?

   Yes, there is a vesting schedule for the company match in the Paramount Global 401(k) plan, which determines when employees fully own the matched funds.

   With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
   Paramount Global provides RSUs and stock options to eligible employees.