What Vulcan Materials Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Vulcan Materials Company utilizes the services of various healthcare providers, primarily focusing on employer-sponsored health plans to offer coverage to its employees. This means that healthcare costs for these employees are directly influenced by the company's insurance choices and market conditions. As we approach 2026, healthcare costs are predicted to see significant escalations-especially for those covered under plans tied to the Affordable Care Act (ACA). Record premium increases, with 2026 projected hikes exceeding 60% in certain states, are anticipated due to a combination of factors including skyrocketing medical expenses and the likely expiration of enhanced federal subsidies. Vulcan Materials employees, along with many others, may face a drastic increase in out-of-pocket costs, with estimates suggesting a rise of up to 75% for those reliant on ACA marketplace insurance. This forthcoming burden highlights the need for careful evaluation of health benefits and proactive financial planning as 2026 approaches. Click here to learn more

For example, Vulcan Materials 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 Vulcan Materials 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 Vulcan Materials 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 Vulcan Materials employees.

Simply for political, economic, and social reasons, many Vulcan Materials 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 Vulcan Materials.

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 Vulcan Materials 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, Vulcan Materials 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. 'Vulcan Materials 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 Vulcan Materials offer to its employees?

   Vulcan Materials offers a 401(k) Savings Plan to help employees save for retirement.

   Does Vulcan Materials provide a company match for contributions made to the 401(k) plan?

   Yes, Vulcan Materials provides a company match for employee contributions to the 401(k) plan, subject to specific terms.

   What is the minimum age requirement to participate in Vulcan Materials' 401(k) Savings Plan?

   Employees must be at least 21 years old to participate in Vulcan Materials' 401(k) Savings Plan.

   How can employees enroll in the 401(k) Savings Plan at Vulcan Materials?

   Employees can enroll in the 401(k) Savings Plan at Vulcan Materials through the company’s benefits portal or by contacting the HR department.

   What are the contribution limits for the Vulcan Materials 401(k) plan?

   Contribution limits for the Vulcan Materials 401(k) plan align with IRS regulations, which may change annually.

   Can employees of Vulcan Materials take loans against their 401(k) savings?

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

   What investment options are available in Vulcan Materials' 401(k) Savings Plan?

   Vulcan Materials offers a variety of investment options within the 401(k) Savings Plan, including mutual funds and target-date funds.

   Is there a vesting schedule for the company match in Vulcan Materials' 401(k) plan?

   Yes, Vulcan Materials has a vesting schedule for the company match, which outlines when employees fully own the matched contributions.

   How often can employees change their contribution amounts to the Vulcan Materials 401(k) plan?

   Employees can change their contribution amounts to the Vulcan Materials 401(k) plan at any time, subject to specific deadlines.

   What happens to my 401(k) savings if I leave Vulcan Materials?

   If you leave Vulcan Materials, you have several options for your 401(k) savings, including rolling it over to another retirement account or cashing it out.