What SBA Communications Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for SBA Communications SBA Communications likely partners with various health insurance providers for its employee health benefits. However, specific details on the designated healthcare provider may vary based on the employee's location and specific plan options offered by the company. Potential Healthcare Cost Increases for Employees in 2026 As we approach 2026, employees at SBA Communications should brace for significant healthcare cost increases driven by various market pressures. Health insurance premiums in the Affordable Care Act (ACA) marketplace are expected to surge, with some states projected to see hikes exceeding 60%. This increase is compounded by the potential expiration of enhanced federal subsidies, which, if not extended, could leave many individuals facing monthly premium increases of over 75%. With rising medical costs, especially in pharmaceuticals and hospital services, employees may find themselves responsible for a larger share of their health expenses unless proactive measures are taken to navigate these changes. Click here to learn more

For example, SBA Communications 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 SBA Communications 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 SBA Communications 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 SBA Communications employees.

Simply for political, economic, and social reasons, many SBA Communications 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 SBA Communications.

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 SBA Communications 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, SBA Communications 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. 'SBA Communications 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 SBA Communications offer?

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

   Does SBA Communications match employee contributions to the 401(k) plan?

   Yes, SBA Communications provides a matching contribution to employee 401(k) accounts, up to a certain percentage of their salary.

   When can employees of SBA Communications enroll in the 401(k) plan?

   Employees of SBA Communications can enroll in the 401(k) plan during the initial enrollment period upon hiring and during annual open enrollment periods.

   Are there any eligibility requirements to participate in the SBA Communications 401(k) plan?

   Yes, employees must meet specific eligibility criteria, such as a minimum period of service, to participate in the SBA Communications 401(k) plan.

   What investment options are available within the SBA Communications 401(k) plan?

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

   How can employees of SBA Communications change their contribution amounts to the 401(k) plan?

   Employees can change their contribution amounts to the SBA Communications 401(k) plan by submitting a request through the company's benefits portal or contacting HR.

   Can employees take loans against their 401(k) balance at SBA Communications?

   Yes, SBA Communications allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

   What happens to my 401(k) account if I leave SBA Communications?

   If you leave SBA Communications, you can choose to roll over your 401(k) balance to another retirement account, cash it out, or leave it in the SBA Communications plan if eligible.

   Does SBA Communications provide financial education resources for employees regarding the 401(k) plan?

   Yes, SBA Communications offers financial education resources and workshops to help employees understand their 401(k) options and investment strategies.

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

   Yes, there is a vesting schedule for the employer match in the SBA Communications 401(k) plan, which determines when you fully own the matched contributions.