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Discovering Your Dream Retirement: Top 4 International Destinations for IDEX Employees

Healthcare Provider Update: IDEX provides medical, dental, and vision insurance through national and regional carriers. Employees benefit from prescription drug coverage, HSAs, FSAs, and company-paid life insurance. The company offers a 401(k) with matching and standalone contributions, tuition assistance, and wellness programs. Community involvement is encouraged through the IDEX Foundation 9. IDEX With ACA premiums projected to rise sharply, IDEXs competitive benefits and community-focused support help employees avoid the financial burden of marketplace plans. Click here to learn more

IDEX employees planning to retire abroad should also take the time to find out how happy people are and how well they are treated in the healthcare systems of the countries they plan to retire in,' recommends Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.

Wesley Boudreaux from The Retirement Group, a division of Wealth Enhancement Group, recommends that IDEX retirees should look for better opportunities for health and happiness abroad than traditional retirement destinations, especially in Portugal and Spain, which have favorable taxes and climates.

In this article we will discuss:

1. Increase in the Number of U.S. Retirees Leaving the Country: Emphasizing the rising trend of American retirees leaving the country and concentrating on Europe.

2. The Best Countries to Live in Terms of Quality of Life: Why Spain, Portugal, and other countries are chosen for their climate, healthcare, and cost of living.

3. Financial Implications for Retirees: Explains the costs and benefits of retiring abroad in terms of taxes and other factors.

The trend of American retirees exploring the option of international retirement destinations is on the rise. The Social Security Administration reports that the number of U.S. retirees collecting benefits from abroad has jumped from 413,000 to 760,000 in the last three years, many of whom have chosen Europe as their destination.

The IDEX retirees may find better healthcare, standard of living and safety in various parts of the world as identified by the recent study by Global Citizen Solutions. Among the best places for retirement, Spain and Portugal are the most popular.

The capital of Spain is the city that was ranked highest in the quality of life with a score of 100 based on factors such as wind speed, temperature, and health care. Researcher Laura Madrid of Global Citizen Solutions argues that the public health sector in Spain and affordable private insurance services are key in enhancing the quality of life of its citizens. Moreover, IDEX retirees who do not want to use their private vehicles as a means of transport during retirement find the Spanish transport system to be very efficient and relatively cheap.

The neighboring country, Portugal comes close behind with a nearly perfect score of 99.79. The climate and low costs of healthcare have attracted an increasing number of American retirees to the region. Both Spain and Portugal are generally cheaper than many European countries and the United States and have good tax exemptions for new exotic residents for the initial years of their stay.

Costa Rica is the third place, Uruguay and Mexico are the second and the first, respectively. That is why Mexico is better than Portugal in terms of the quality of life. In the economic category, Malaysia is the best as there is no tax on income earned outside the country. It should be noted that all the citizens of the United States living abroad must meet the tax reporting requirements to the United States.

The average New Zealand is hard to beat when it comes to retirement, especially with regard to social adaptation and the attitude towards immigrants. The main criteria that influence the choice of retirees when moving overseas are tax benefits, good healthcare, and affordable housing. This study establishes a pattern of older Americans who are looking for better financial situations, tax exemptions, and cultural experiences through retirement abroad.

For IDEX retirees who are planning to retire abroad, Portugal is a country that deserves attention since this nation offers not only a high standard of living but also some tax benefits. As for International Living, Portugal is one of the best countries for expat retirees due to its beautiful scenery, friendly people, and excellent but affordable healthcare (International Living, 2024).

Retiring from IDEX abroad can be a bit like finding a secret paradise after a long journey: walking into a country with sun, healthcare, low taxes, and so many new experiences. Just as travelers look for comfortable and interesting places to visit, seniors choose countries like Spain and Portugal for their decent public healthcare, affordable living, and special tax benefits. It is a chance to enjoy life’s good things in an environment which is designed for peace, relaxation, and community.

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Disclosure:

This information is not intended as recommendation. The opinions are subject to change at any time and no forecasts can be guaranteed. Investment decisions should always be made based on investor's specific circumstances. Investing involves risk, including possible loss of principal.

Sources:

1. Social Security Administration.
SSA Payments Outside US | International Programs,' Social Security Administration, 2025, https://www.ssa.gov/international/payments_outsideUS.html

2. Rader, Jameson.
Social Security Abroad for U.S. Expats and Retirees [Guide].'' Savvy Nomad, 2024, https://blog.savvynomad.io/social-security-abroad-for-us-expats-and-retirees-guide

3. 'How to Retire Abroad as a US Citizen: The Complete Guide.' ExpatDen, 2024, https://www.expatden.com/us/how-to-retire-abroad-as-a-us-citizen-the-complete-guide.

4. Behrens, Frederic.
American Expat Social Security and Retiring Abroad.' Cerity Partners, 2024, https://www.ceritypartners.com/american-expat-social-security-and-retiring-abroad

5. 'Expat Retiring Abroad? Rules on Taxes, Social Security, and Benefits.' PlanWell Financial Planners, 2024, https://www.planwellfp.com/expat-retiring-abroad-rules-on-taxes-social-security-and-benefits.

What type of retirement plan does IDEX offer to its employees?

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

How can IDEX employees enroll in the 401(k) plan?

IDEX employees can enroll in the 401(k) plan through the employee benefits portal or by contacting the HR department for assistance.

Does IDEX offer any matching contributions to the 401(k) plan?

Yes, IDEX provides matching contributions to the 401(k) plan, which helps employees save more for retirement.

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

The maximum contribution limit for IDEX employees is set by the IRS and may change annually; employees should refer to the latest IRS guidelines for specific limits.

Are there any vesting requirements for the employer match in IDEX's 401(k) plan?

Yes, IDEX has a vesting schedule for employer matching contributions, which determines when employees fully own those contributions.

Can IDEX employees take loans against their 401(k) savings?

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

What investment options are available in IDEX's 401(k) plan?

IDEX offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.

How often can IDEX employees change their 401(k) contribution amounts?

IDEX employees can change their 401(k) contribution amounts during designated enrollment periods or as specified in the plan documents.

What happens to my 401(k) if I leave IDEX?

If you leave IDEX, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the IDEX plan if eligible.

Is there a penalty for withdrawing funds from my IDEX 401(k) before retirement age?

Yes, there is typically a penalty for early withdrawals from the IDEX 401(k) plan, in addition to regular income taxes.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Name of Pension Plan: IDEX Corporation does not have a traditional defined benefit pension plan. Instead, they primarily offer defined contribution plans, including 401(k) plans. Years of Service and Age Qualification: IDEX Corporation generally does not offer a traditional pension plan; thus, there are no specific criteria for years of service or age for pension benefits. Pension Formula: Not applicable as IDEX Corporation focuses on 401(k) plans. 401(k) Plan Information Name of 401(k) Plan: IDEX Corporation’s 401(k) plan is generally referred to as the "IDEX 401(k) Plan." Who Qualifies: Employees typically become eligible for the 401(k) plan after completing a probationary period, which is often six months of service. Company Contribution: IDEX Corporation may offer a company match to employee contributions, though specific match percentages and contribution limits should be verified in the most recent plan documents.

IDEX Announces Restructuring Plan: In March 2024, IDEX announced a significant restructuring plan aimed at streamlining operations and reducing costs. The plan involves the closure of several non-core facilities and a reduction in workforce. This move is part of IDEX’s strategy to focus on its core business areas and improve operational efficiency. Source: Reuters

IDEX provided stock options (SO) and restricted stock units (RSU) for its employees as part of its compensation package in 2022. IDEX stock options are typically available to senior management and key employees based on performance and tenure. IDEX RSUs were granted to select employees as part of their long-term incentive plan.

Recent Changes: In 2023, IDEX increased their health benefits offerings by expanding telemedicine services and adding more preventive care benefits. They also adjusted their premium contributions to ease the financial burden on employees. Healthcare Trends: There has been a notable shift towards incorporating mental health resources and virtual care solutions into employee benefit programs.

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For more information you can reach the plan administrator for IDEX at , ; or by calling them at .

https://www.reuters.com/ https://www.businessinsider.com/ https://www.bloomberg.com/asia https://www.cnbc.com/world/?region=world https://www.benefitspro.com/?slreturn=20240817131439 http://www.401khelpcenter.com/ https://www.thelayoff.com/#google_vignette https://www.idexcorp.com/