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Exploring Retirement Destinations: Where Should Fiserv Employees Consider Living Abroad?

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Fiserv employees who are planning to change their lifestyle and work abroad are advised to start planning early to ensure that their lifestyle and career fit the foreign country,' advises Paul Bergeron, a representative of The Retirement Group at Wealth Enhancement Group.

Tyson Mavar of The Retirement Group, a division of Wealth Enhancement Group, explains the legal and tax consequences of leaving the country for Fiserv employees.

In this article we will discuss:

1. Trends and Motivations for Relocation: Examining the reasons behind it Fiserv employees and other Americans are leaving the country for, including political climate and lifestyle issues.

2. Practical Aspects of Immigration: Exploring, Looking at different immigration paths and procedures to different countries like Canada, Mexico, and some countries in Europe and the differences between them.

3. Benefits and Challenges of Living Abroad: Exploring the financial and social implications of moving, the taxes, health care, and society, to help people who want to become expats make the right decision.

The idea of living abroad has always been attractive to many people, including the Fiserv employees who are interested in the changed political systems, better health care, and affordable retirement options that lead to a better quality of life. Jean-Francois Harvey is a Miami-based attorney who notes that more than political reasons, more Americans are considering life abroad. Harvey's experience in immigration is particularly valuable for those who are planning to make some major changes.

Although political events such as Supreme Court hearings and presidential debates can lead to a revision of the quality of life one wishes to lead, the underlying motive is often a desire to live a better life. Harvey says, “The vast majority of people who are interested in changing the game in the United States require a Plan B as elections draw near.” It is not always necessary to have a country nearby as the choice of destination.

While Mexico and Canada are the favorite neighboring nations for the Fiserv employees due to their proximity, some of them also have eyes on European countries like Spain and France due to the linguistic familiarity and easy visa procedures.

The process of moving is different and depends on the country. Using the Express Entry system, Canada has a process in place to quickly move skilled workers through a simplified process that could take as long as two years. This is because family ties in Canada can fast track this process. However, Mexico offers a retirement scheme that is suitable for those who want to spend their latter years in a tropical climate and must show proof of financial stability through their savings or regular income.

Mexico does not allow direct real estate purchases by foreigners but there are legal ways of making such acquisitions through existing entities. Europe presents a variety of immigration options, and laying claim to citizenship through parents or ancestry is still valid in many countries, including Portugal, Spain, France, and Italy. Also, the new digital nomad visas are a modern approach for professionals who want to live in Europe and continue working remotely abroad, not only benefiting the applicants but also their families.

Moving is a process that is accompanied by legal and tax consequences that occur when moving to another country and the treaties that prevent the double taxation of the same income when working there. This makes it easier to go back to the U.S. when needed. If you are a Fiserv employee thinking about moving, you must consider the legal, administrative, and living conditions that accompany moving to another country.

Social infrastructure, healthcare, cost of living, and cultural considerations are important to think about in order to ensure that the move will help to meet personal and professional goals. In general, moving abroad is a complex process of assessing one’s lifestyle, career, and life situation. It is crucial to know the immigration laws and advantages of living in different countries. Although it is difficult to get permanent residency, it is worth it for financial and personal growth. A 2021 Expat Insider survey revealed that more than 80% of American expatriates 60 and older are better off financially since moving abroad.

Retirement is especially attractive in countries like Portugal and Mexico due to the low costs of living and the favorable tax treatments for retirees, which make the option of living abroad more appealing for people who want to stretch their retirement budget and quality of life. Leaving the United States for another country is like setting course on a ship. Just as a seasoned navigator picks a destination according to weather, cultural richness, and good ports, so should expatriates pick factors like quality of life and healthcare.

When you know how to avoid the pitfalls when it comes to immigration laws, then your transition to your new life abroad will be as smooth as sailing in calm waters.

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Sources:

Expat.com. 'Retirement Abroad: Trends and Top Destinations in 2025.' Expat.com, 2025. In this article, the role of retirees is seen as balancing lifestyle adjustments with financial needs through part-time work, consulting or business ownership while moving abroad, with the focus being on the semi-retirement lifestyle.
PlanWell Financial Planners. 'Expat Retiring Abroad? Rules on Taxes, Social Security, and Benefits.' PlanWell Financial Planners, 2024. The source outlines tax obligations, the Foreign Earned Income Exclusion (FEIE), and potential tax pitfalls of retiring abroad, which are crucial for retirees' financial planning.
van Sambeck, Becca. 'The Pros and Cons of Retiring Abroad.' Kiplinger, 22 Oct. 2023. According to Kiplinger, the advantages of retiring abroad include lower living costs and new cultural experiences; however, challenges such as cultural adaptation and complicated taxation affect U.S. retirees living abroad.
TrueNorth Wealth. 'Retiring Abroad: Pros, Cons, and Considerations.' TrueNorth Wealth, 2024. TrueNorth Wealth offers advice on financial, legal, and personal planning for retiring abroad, with a focus on how complex international tax laws, healthcare, and social environments affect retirees.
International Living. '2025's Best Countries to Retire.' International Living, 2025. In this article, the best retirement destinations are evaluated based on cost of living, healthcare, and overall quality of life, which can help retirees determine where they can best stretch their retirement dollars and enjoy a better standard of living.

What is the primary purpose of Fiserv's 401(k) plan?

The primary purpose of Fiserv's 401(k) plan is to help employees save for retirement by providing a tax-advantaged savings vehicle.

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

Fiserv employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Fiserv offer matching contributions to its 401(k) plan?

Yes, Fiserv offers matching contributions to its 401(k) plan, which helps employees increase their retirement savings.

What types of investment options are available in Fiserv's 401(k) plan?

Fiserv's 401(k) plan typically offers a range of investment options, including mutual funds, target-date funds, and company stock.

What is the vesting schedule for Fiserv's 401(k) matching contributions?

The vesting schedule for Fiserv's 401(k) matching contributions may vary, so employees should refer to the plan documents for specific details.

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

Yes, Fiserv employees may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What is the minimum contribution percentage for Fiserv employees participating in the 401(k) plan?

The minimum contribution percentage for Fiserv employees is typically set at 1%, but employees are encouraged to contribute more to maximize their savings.

Are there any fees associated with Fiserv's 401(k) plan?

Yes, there may be fees associated with Fiserv's 401(k) plan, including administrative fees and investment management fees, which are disclosed in the plan documents.

How often can Fiserv employees change their contribution amounts?

Fiserv employees can change their contribution amounts at any time, subject to the plan's guidelines.

What happens to Fiserv employees' 401(k) savings if they leave the company?

If Fiserv employees leave the company, they can roll over their 401(k) savings to another retirement account, withdraw the funds, or leave the savings in the Fiserv plan if allowed.

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

Fiserv offers a comprehensive retirement program for its employees, which includes both a 401(k) plan and a pension plan. The 401(k) plan allows employees to contribute on a pre-tax basis, or on a post-tax basis through the Roth 401(k) feature. Fiserv matches 100% of the first 1% of an employee's contribution, and 50% of the next 4% of eligible compensation, providing a potential match up to 3% (Working at Fiserv, Inc.). This 401(k) plan, named the Fiserv Employee Savings Plan, is administered through Vanguard (Working at Fiserv, Inc.). In addition to the 401(k), Fiserv also offers a defined benefit pension plan for long-serving employees, depending on their hire date (Working at Fiserv, Inc.). This plan typically includes employees who were part of First Data Corporation before its acquisition by Fiserv. The pension plan's eligibility criteria involve a combination of years of service and age qualification; typically, employees need at least five years of service and must be of retirement age, which is usually defined as 65 (Working at Fiserv, Inc.). However, specific details regarding the pension formula and years of service requirements were not explicitly stated on the documents accessed.

Restructuring and Layoffs: In early 2024, Fiserv announced a significant restructuring plan, which included a workforce reduction affecting approximately 5% of its global employees. This move was part of a broader effort to streamline operations and focus on core business areas amid challenging economic conditions. The decision to reduce the workforce reflects the company's strategy to adapt to shifting market demands and improve operational efficiency.

Fiserv provides stock options and RSUs as part of its compensation package. Fiserv issues stock options under the acronym SO and RSUs under the acronym RSU. In 2022, 2023, and 2024, Fiserv employees, especially executives and key personnel, are eligible for these benefits. The specifics are detailed in the company's compensation sections of annual reports.

Fiserv Health Benefits Overview 1. Official Fiserv Website: Health Insurance: Fiserv provides a range of health insurance options, including medical, dental, and vision plans. These options include PPO (Preferred Provider Organization) and HDHP (High Deductible Health Plan) plans. Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs): Available for employees to save on out-of-pocket expenses. Wellness Programs: Includes resources for mental health support, fitness programs, and preventive health services. 2. Glassdoor: Employee Reviews: Employees appreciate the comprehensive benefits package which includes a range of health insurance plans and wellness incentives. Some have noted that while the benefits are robust, they may come with high deductibles depending on the plan chosen. 3. Indeed: Health Benefits: Reviews indicate that Fiserv’s health benefits are competitive, offering multiple plan choices with various coverage levels. Employees also mention access to telemedicine services as a plus. 4. LinkedIn: Benefits Overview: Includes detailed information on Fiserv’s health benefits such as medical, dental, and vision plans. Also highlights their emphasis on work-life balance and employee wellness programs.