What RPM International Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for RPM International RPM International, a company specializing in industrial coatings and sealants, typically offers healthcare plans through major insurers. Employees of RPM International can expect to receive health benefits from providers such as UnitedHealthcare, Aetna, or Cigna, depending on the specific plan choices made available by the company. Healthcare Cost Increases in 2026 As we approach 2026, RPM International employees should brace for a significant rise in healthcare costs. Premiums for Affordable Care Act (ACA) marketplace plans are anticipated to increase sharply, with some states reporting hikes exceeding 60%. A decrease in federal premium subsidies and the continuous rise in medical care costs-including skyrocketing medication prices-are substantial contributing factors. Employees are advised to evaluate employer-sponsored plans alongside marketplace options early to mitigate financial impacts, as many may face increased out-of-pocket expenses that could affect their budget significantly. Click here to learn more

For example, RPM International 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 RPM International 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 RPM International 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 RPM International employees.

Simply for political, economic, and social reasons, many RPM International 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 RPM International.

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 RPM International 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, RPM International 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. 'RPM International 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 plan does RPM International offer to its employees?

   RPM International offers a 401(k) retirement savings plan to its employees.

   Does RPM International provide a company match for employee contributions to the 401(k) plan?

   Yes, RPM International provides a company match for employee contributions to the 401(k) plan, helping employees maximize their retirement savings.

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

   Employees at RPM International are typically eligible to participate in the 401(k) plan after completing a specified period of service, usually within their first year of employment.

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

   Yes, RPM International employees can choose from a variety of investment options for their 401(k) contributions, including mutual funds and other investment vehicles.

   How often can RPM International employees change their 401(k) investment elections?

   RPM International employees can change their 401(k) investment elections at any time, allowing them to adjust their investment strategy as needed.

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

   The maximum contribution limit for RPM International employees is subject to IRS guidelines, which can change annually. Employees should check the current limits for accurate information.

   Does RPM International offer a Roth 401(k) option for its employees?

   Yes, RPM International offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

   What happens to RPM International employees' 401(k) accounts if they leave the company?

   If RPM International employees leave the company, they have several options for their 401(k) accounts, including rolling over the balance to another retirement account or leaving it in the RPM International plan.

   Is there a vesting schedule for the company match in RPM International's 401(k) plan?

   Yes, RPM International has a vesting schedule for the company match, which means employees must work for a certain period to fully own the matched contributions.

   Can RPM International employees take loans against their 401(k) accounts?

   Yes, RPM International allows employees to take loans against their 401(k) accounts, subject to specific terms and conditions outlined in the plan.