Social Security for Divorcees for Expedia Group Employees

Divorce can bring with it a unique series of financial challenges. Luckily, for our Expedia Group employees who are going through this and were married for 10 years or more, you can still receive benefits through your ex-spouse, even if they’ve remarried.

'The Social Security Administration allows you to keep the benefits based on your ex’s income if you remarry after age 60.'

To take advantage of this benefit, you must meet some key criteria. You must be at least 62 years old. You must have an ex-spouse who is eligible to receive social security. You must be entitled to a smaller benefit on your own than what you would receive through your ex-spouse.

For our Expedia Group clients who are under 60, you must be currently single to receive an ex-spouse’s benefits. For our clients from Expedia Group who are 60 or older and want to remarry, go for it. The Social Security Administration allows you to keep the benefits based on your ex’s income if you remarry after age 60.

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Now, let’s talk quantity. The amount of money you’re entitled to varies depending on the average amount your ex earned over a 35-year period. In general, your benefit is equal to half of your ex-spouse’s full retirement amount. If your ex-spouse qualifies for benefits but hasn’t claimed them yet, don’t worry. You can still receive spousal benefits if you have been divorced for at least two years, and your ex hasn’t begun to draw Social Security.

While these are some of the more important aspects of Social Security for divorcees, the interplay between various Social Security rules is complex and often confusing. It’s important for our Expedia Group clients who are going through this to consider all of their options carefully.

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

Expedia Group offers its employees a 401(k) plan and retirement savings options. Their 401(k) plan allows eligible employees to contribute pre-tax earnings, with the company providing a match for a portion of the contributions. According to the IRS limits, contributions in 2022 were capped at $20,500, in 2023 at $22,500, and in 2024 at $23,000 (Wikipedia) (Wikipedia). Expedia's retirement plan is primarily a defined contribution plan rather than a traditional defined benefit pension plan (Wikipedia). Expedia employees become eligible for the 401(k) plan after meeting specific service requirements, and they can take advantage of company matching to boost their retirement savings (TIAA). For example, the plan may offer a match of up to 5% of salary depending on the employee’s contribution. Withdrawals from the plan without penalty are available after reaching the age of 59½, but hardship withdrawals are allowed under specific conditions, such as medical emergencies or home purchase

In 2023, Expedia Group announced a restructuring plan to streamline its operations and cut costs. This involved laying off around 10% of its workforce as part of an effort to improve operational efficiency and focus on its core businesses. The company cited the need to adapt to the changing travel industry landscape and economic pressures as reasons for these cuts.

Stock Option Acronym: SO Description: Expedia Group offers stock options to its employees as part of its compensation package. Stock options typically vest over a period of time, providing employees with the opportunity to purchase company stock at a predetermined price. Stock Option Availability: Available to a range of employees including executives and senior management. The options are often granted based on performance and tenure.

URL: Expedia Group Careers Details: Look for sections related to employee benefits or health insurance. The official site usually has the most current and accurate information. Glassdoor: URL: Glassdoor Expedia Group Benefits Details: Employee reviews and benefits information provided by current and former employees. Indeed: URL: Indeed Expedia Group Benefits Details: Insights from employee reviews about health benefits and other compensation aspects. LinkedIn: URL: LinkedIn Expedia Group Careers Details: Company profiles often include information about benefits and employee experiences. Forbes or Business Insider: URL: Search for relevant articles or news on Forbes or Business Insider Details: Look for any recent articles discussing Expedia Group’s health benefits or employee compensation updates.