What Silgan Holdings Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Silgan Holdings Silgan Holdings does not have a specific healthcare provider listed; however, employees typically access health insurance benefits through a range of options offered in partnership with various insurers, including larger players in the healthcare market. Brief Overview of Potential Healthcare Cost Increases in 2026 As 2026 approaches, healthcare costs are expected to surge significantly for employees of Silgan Holdings. Anticipated changes in the Affordable Care Act (ACA) marketplace, coupled with increased medical expenses, are likely to result in premium hikes that could exceed 60% in some states. A combination of the expiration of enhanced federal subsidies and soaring costs for medical services-driven by factors such as the rising prices of medications and hospital care-means that many employees could face sharp increases in their out-of-pocket expenses. To mitigate these impacts, it may be essential for employees to familiarize themselves with upcoming benefit changes and explore strategic options for managing their healthcare expenditures. Click here to learn more

For example, Silgan Holdings 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 Silgan Holdings 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 Silgan Holdings 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 Silgan Holdings employees.

Simply for political, economic, and social reasons, many Silgan Holdings 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 Silgan Holdings.

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 Silgan Holdings 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, Silgan Holdings 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. 'Silgan Holdings 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 Silgan Holdings offer to its employees?

   Silgan Holdings offers a 401(k) retirement savings plan to its employees.

   How can employees at Silgan Holdings enroll in the 401(k) plan?

   Employees can enroll in the Silgan Holdings 401(k) plan by completing the enrollment process online through the company’s benefits portal.

   Does Silgan Holdings provide a company match for 401(k) contributions?

   Yes, Silgan Holdings provides a company match for employee contributions to the 401(k) plan, up to a certain percentage.

   What is the maximum contribution limit for the Silgan Holdings 401(k) plan?

   The maximum contribution limit for the Silgan Holdings 401(k) plan is in accordance with IRS guidelines, which may change annually.

   Can employees at Silgan Holdings take loans against their 401(k) savings?

   Yes, employees at Silgan Holdings may have the option to take loans against their 401(k) savings, subject to the plan's terms.

   What investment options are available in the Silgan Holdings 401(k) plan?

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

   How often can employees at Silgan Holdings change their 401(k) contribution amounts?

   Employees at Silgan Holdings can change their 401(k) contribution amounts at any time, subject to the plan's rules.

   What happens to the 401(k) savings if an employee leaves Silgan Holdings?

   If an employee leaves Silgan Holdings, they can roll over their 401(k) savings to another retirement account, cash out, or leave the funds in the Silgan Holdings plan, depending on the plan's provisions.

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

   Yes, Silgan Holdings has a vesting schedule for the company match, which determines when employees fully own the matched contributions.

   Are there any fees associated with the Silgan Holdings 401(k) plan?

   Yes, there may be administrative and investment fees associated with the Silgan Holdings 401(k) plan, which are disclosed in the plan documents.