What Resideo Technologies Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider Information for Resideo Technologies Resideo Technologies primarily partners with several health insurance providers to offer health benefits to its employees. The exact healthcare providers may vary based on geographic location and specific employee plans; however, many employees utilize plans from major insurers such as UnitedHealthcare, Anthem, and Cigna, as these are prevalent in the market. Potential Healthcare Cost Increases in 2026 In 2026, employees of Resideo Technologies may confront a significant rise in healthcare costs due to a combination of factors. Insurers are requesting premium increases of up to 66% in several states, creating a challenging landscape for many employees relying on Affordable Care Act (ACA) marketplace plans. Coupled with the potential expiration of enhanced federal premium subsidies, nearly 92% of affected policyholders could see their out-of-pocket costs surge by over 75%. This scenario emphasizes the need for employees to review their healthcare options early and align their coverage with anticipated financial needs. Click here to learn more

For example, Resideo Technologies 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 Resideo Technologies 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 Resideo Technologies 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 Resideo Technologies employees.

Simply for political, economic, and social reasons, many Resideo Technologies 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 Resideo Technologies.

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 Resideo Technologies 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, Resideo Technologies 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. 'Resideo Technologies 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 Resideo Technologies?

   The 401(k) plan at Resideo Technologies is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.

   How does Resideo Technologies match employee contributions to the 401(k) plan?

   Resideo Technologies offers a company match for employee contributions, which is typically a percentage of the employee's contribution, up to a specified limit.

   What are the eligibility requirements to participate in the Resideo Technologies 401(k) plan?

   Employees of Resideo Technologies are generally eligible to participate in the 401(k) plan after completing a specific period of service, usually outlined in the employee handbook.

   Can employees of Resideo Technologies make changes to their 401(k) contributions?

   Yes, employees of Resideo Technologies can change their contribution amounts at any time, subject to specific guidelines set by the plan.

   What investment options are available in the Resideo Technologies 401(k) plan?

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

   Is there a vesting schedule for the employer match in the Resideo Technologies 401(k) plan?

   Yes, Resideo Technologies has a vesting schedule for the employer match, meaning employees must work for a certain period to fully own the matched contributions.

   How can employees of Resideo Technologies access their 401(k) account information?

   Employees can access their 401(k) account information through the online portal provided by the plan administrator, which is accessible via the Resideo Technologies employee resources page.

   What happens to the 401(k) plan if an employee leaves Resideo Technologies?

   If an employee leaves Resideo Technologies, they can choose to roll over their 401(k) balance into another retirement account, cash out, or leave it in the Resideo plan, subject to the plan's rules.

   Are loans available from the 401(k) plan at Resideo Technologies?

   Yes, Resideo Technologies allows employees to take loans from their 401(k) accounts under certain conditions, as specified in the plan documents.

   Can employees of Resideo Technologies withdraw funds from their 401(k) before retirement?

   Employees may be able to withdraw funds from their 401(k) before retirement under specific circumstances, such as financial hardship, but penalties may apply.