Relocating for a Job
Relocating for the sake of a job requires a major change for the candidate and family,
including leaving familiar surroundings, finding a new place to live, and meeting new friends.
It can also be quite expensive, so major organizations often have a relocation program (also
called relo) to not only assist in covering expenses, but to help you settle into your new home
and community and transition into your new job as quickly as possible. For lower level jobs
there may be no relo program available or one that’s very minimal at best, but for higher level
executive positions, relo programs can be very comprehensive in terms of the benefits
Despite the fact that packages can vary tremendously
from one company to the next and from one job to the
next, there are still some common factors:
- There will be a time limit assigned for benefits
- According to IRS requirements, your new employer
must be more than 50 miles from your residence,
and you must be employed by the new employer for
at least 39 weeks within the following 12-month
period immediately following your arrival.
- You will probably be asked to sign an agreement
stating that if you resign your position or are
terminated within a certain time frame, perhaps two
years, then you agree to repay the relo benefits in
full or on a pro-rated basis.
- More often than not there will be strict corporate guidelines that state which expenses
are allowable, and which are not; in this case, you must maintain careful records, and
submit all receipts. Some relo plans may instead consist of a flat fee payment that you
can use in whichever ways you feel are appropriate.
- Your new employer may issue a debit or credit card for you to use.
If you're considering a relocation, be sure to first check out these websites:
- DiscoverOurTown.com is an excellent site for information about life within a particular
- City-data.com is a great site if you want statistical information about a community
Be sure to spend the time necessary to adequately investigate any new community before
making a commitment to relocate!
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