Healthcare Provider Update: Healthcare Provider for Moog Moog Inc. typically provides health benefits through various healthcare providers, including large national insurers such as Aetna, UnitedHealthcare, and Blue Cross Blue Shield. The specific provider may vary by location and plan options available to employees. Healthcare Cost Increases in 2026 for Moog Employees In 2026, Moog employees are likely to face significantly higher healthcare costs, primarily driven by anticipated premium hikes in the ACA marketplace, which could reach up to 66% in some states. As employers like Moog adjust their benefit structures in response to rising medical costs, employees may see changes in deductibles and out-of-pocket expenses. With nearly 51% of large employers expected to shift more costs onto workers, understanding these changes and preparing for increased healthcare expenses will be essential for Moog employees navigating their health coverage options. Click here to learn more
Moog 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 Moog 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 Moog 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, Moog 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 Moog 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 Moog 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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- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
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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.
How does the transition from the Moog Pension Plan to the RSP(+) Program affect my retirement savings strategy, and what steps should I take to optimize my contributions in light of the changes Moog has implemented to its retirement programs?
Transition from Pension Plan to RSP(+): The transition from the Moog Pension Plan to the RSP(+) Program offers greater flexibility and portability, as the RSP(+) includes both a retirement contribution and a matching contribution. To optimize your contributions, aim for the maximum percentage of your eligible compensation to take full advantage of Moog's increasing match, which phases up to 10% by October 2021. Evaluate your long-term goals and consult a financial advisor for personalized advice.
In what scenarios would remaining in the Current Retirement Program offered by Moog provide a greater benefit compared to the new RSP(+) program, and what factors should I consider when assessing my long-term retirement goals in relation to these two options?
Benefits of Staying in the Current Program: Remaining in the Current Retirement Program may provide greater benefits for long-term employees close to retirement. The Moog Pension Plan offers a defined benefit that provides predictable, stable income, which can be beneficial if you're near retirement age or value a guaranteed income. Weigh the security of the pension against the flexibility and growth potential of the RSP(+) based on your retirement goals.
With the Moog Pension Plan being "frozen" as of December 31, 2019, how does this affect my accrued benefits, and what are the implications for my retirement planning as I approach retirement age and consider other income sources?
Frozen Moog Pension Plan Impact: Since the Moog Pension Plan was frozen on December 31, 2019, your accrued benefits will not grow, but you retain the value you’ve earned. This fixed benefit, payable as an annuity, can still play a role in your overall retirement strategy. As you approach retirement, plan for other income sources, like Social Security or RSP withdrawals, to supplement your frozen pension benefit.
What are the specific vesting timelines for the different retirement options available through Moog, and how do these timelines impact my ability to access benefits if I decide to leave the company before reaching retirement age?
Vesting Timelines: The Moog Pension Plan vests after five years of service, while the RSP(+) retirement contribution vests after three years. The RSP(+) matching contributions are immediately vested for current employees, but newly hired employees face a three-year vesting schedule. If you leave Moog before vesting, you risk losing unvested contributions, so factor in your tenure when planning your exit.
Can you explain the various payment options available when I decide to withdraw from the Moog Pension Plan or RSP(+) account, specifically discussing the benefits and drawbacks of lump-sum distributions versus annuity options offered by Moog?
Payment Options: For both the Pension Plan and RSP(+) Program, Moog offers various withdrawal options. Pension benefits are generally paid as a monthly annuity, whereas the RSP(+) offers lump sum, installments, or partial withdrawals. A lump sum offers flexibility but shifts the investment risk to you, while an annuity provides stable, lifelong payments but limits liquidity.
What investment decisions do employees have the power to make regarding their contributions to the RSP and RSP(+) at Moog, and how might these decisions impact the overall performance of my individual retirement accounts as I prepare for retirement?
Investment Decisions in the RSP(+): Employees control investment decisions within the RSP(+) Program. Moog’s initial contributions are invested in Moog Class B Stock Fund-Restricted, but you can reallocate to other funds. Your choices significantly impact the growth of your retirement savings, so regularly review your investment strategy to ensure it aligns with your retirement timeline and risk tolerance.
How does Moog ensure the security of my retirement benefits under the Pension Plan, and what protections are in place in the event of financial difficulties faced by the company, including the role of the Pension Benefit Guaranty Corporation (PBGC)?
Security of Retirement Benefits: Moog’s pension benefits are backed by the Pension Benefit Guaranty Corporation (PBGC), providing a safety net in case of company financial difficulties. However, the RSP(+) accounts are not PBGC-insured, and the value depends on investment performance. Your pension is protected, but careful management of your RSP investments is crucial.
In the event of my death before receiving retirement benefits, what provisions does Moog have in place for disbursing my accrued benefits to my beneficiaries, and how does marital status affect these benefits under the Moog Pension Plan and RSP?
Death Benefits: If you pass away before receiving your Pension Plan benefits and are married, your spouse receives a monthly lifetime benefit. For the RSP(+) Program, your designated beneficiary will receive your account balance as a lump sum. Spousal consent is required if you wish to name a non-spousal beneficiary. Marital status directly impacts the distribution of your retirement benefits.
How can I maximize the company match contributions offered in the RSP and RSP(+) plans, and what specific contribution levels should I aim for to ensure that I am fully leveraging the benefits provided by Moog?
Maximizing Company Match: To maximize Moog’s matching contributions, contribute at least 6% of your eligible compensation initially, increasing to 8% in 2020 and 10% in 2021 to receive the full match. By reaching these thresholds, you leverage the full benefits of Moog's matching, boosting your retirement savings potential.
If I have further questions or need more information on my retirement options, how can I contact Moog's HR Employee Support team for assistance, and what resources are available to help me navigate the transition between retirement plans effectively? These questions are designed to encourage deeper exploration of individual retirement situations and the specific policies within the company’s retirement programs.
Contacting Moog HR for Further Information: For more questions or additional guidance, you can contact Moog's HR Employee Support team via email at employeesupport@moog.com or by calling 844-367-5787. Empower Retirement’s Call Center is also available for technical questions regarding the RSP(+) Program. These resources ensure you have the support needed during your retirement transition(Moog_Choice_Guide_Retir…).
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