Superannuation in the USA

When Australian expats move overseas managing their superannuation in the USA can become difficult due to the IRS not providing a definitive ruling on super.

Australian expats are well informed on the virtues of contributing to their Australian superannuation accounts however when they move overseas to the United States, they are confronted with a completely different pension scheme that draws very few similarities to the Australian superannuation schemes.

A common issue with US-based Aussie Expats is the decision to opt into an Individual Retirement Account (IRA) or their employer’s 401K option.

This US Pension Guide seeks to provide some clarity on the different types of IRA’s and the options available to Australian expats.

There are various reasons as to why you would elect to proceed with an IRA but your circumstances will help guide this decision.

Essentially an IRA offers the following:

Provides tax advantages for retirement savings.
Give your savings a chance to grow.
Start securing your nest egg.

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