AIARC administers separate retirement plans for U.S. and non-U.S. taxpayers. You generally become eligible to participate in the retirement plan on the first day of your employment. However, you will not be allowed to enroll in the retirement plan until you have completed the Tax Residency Declaration Form. Your declaration on this form will determine in which retirement plan (international plan or U.S. plan) you will be enrolled, and your declaration is considered a legal statement that may be shared with governmental jurisdictions and tax authorities.
If your Tax Residency Declaration Form indicates that you are a non-U.S. taxpayer, you will be enrolled in the International Retirement Plan.
The IARC International Retirement Plan was established in 1996 to help Center employees save for retirement.
The IARC Retirement Plan is recognized as a Broad Participation Retirement Fund in accordance with the criteria established by the Organization for Economic Co-operation and Development (OECD) for the purpose of complying with the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA). The IARC Retirement Plan is established in Guernsey, Channel Islands, and is registered with the Guernsey Tax Authority under Section 154-A. Under Section 154-A, the Guernsey Tax Authority participates in the Automated Exchange of Information (AEoI) and shares information with tax authorities in other countries around the world.
For information about the Common Reporting Standard (CRS), refer to the OECD Common Reporting Standard link.
The IARC International Retirement Plan has a contract with Zurich International Life (Zurich) for the administration of the International Pension Plan (IPP) to include investment and record keeping services. Zurich is a major financial institution offering life assurance, investment, and protection solutions throughout the world.
For information on Plan rules, eligibility and vesting details, refer to the Participant Guide.
To be eligible to participate in the IARC International Retirement Plan, you must be:
1) Employed by a member Center that sponsors the Plan,
2) A non-U.S. taxpayer, and
3) Enrolled in one of the following Employment Classifications, as designated by your Center:
You will be advised by your Center if your Employment Classification is eligible to participate in the retirement plan. Before you are allowed to enroll in the Plan, you must have completed the Tax Residency Declaration Form. Your declaration on this form will determine in which retirement plan you will be enrolled, and your declaration is considered a legal statement that may be shared with governmental jurisdictions and tax authorities. If the Tax Residency Declaration Form indicates that you are a non-U.S. taxpayer, you will be enrolled in the International Retirement Plan administrated by Zurich International.
To be enrolled in the Plan, you are required to send a completed and signed copy of the International Retirement Plan Enrollment Form to your Center’s AIARC Coordinator. If this form is not completed, your retirement contribution will be delayed.
Your Center will contribute a monthly amount based on the Center’s sponsorship agreement with the Plan Administrator. You may also make voluntarily contributions to your retirement account by completing the Voluntary Contribution section of the International Retirement Plan Enrollment Form. Your monthly voluntary contribution cannot exceed your monthly net pay. For a calendar year, you can only contribute an amount up to your net annual salary paid for that year.
Your first employer contribution and your first voluntary contribution, if any, will be invested in the Plan’s default Target Retirement Fund (TRF) based on when you turn age 65. The TRF is a diversified investment fund that includes a mix of asset classes (e.g., stock and bonds). The TRF automatically rebalances the percentage allocation of the fund to investments that are considered to have less risk as you near age 65. You can learn more about the Target Retirement Fund (TRF) by reviewing the TRF Guide or the TRF website.
If you want to start or change your voluntary contribution, please send a completed and signed copy of the IARC Offshore Retirement Plan Voluntary Contribution Form to your AIARC Coordinator. If AIARC does not process your Center’s payroll, you must send this form to your Center first to note the transaction in its record, then the Center will forward the form to AIARC to process the contribution amount.
Your first contribution will be deposited into the default fund, which is the Zurich Target Retirement Fund (TRF). After the first contribution is deposited, you can change this option at any time by logging into your account on the Zurich International Online (ZIO) platform and switching from the default fund to another investment option. To learn about how to switch your funds in your ZIO account, please refer to the ZIO Guide to Switching Investments or view the instructional video Changing Your Funds available in the ZIO Video Library.
For information on investment options, contributions, and fees refer to the International Retirement Plan Voluntary Contribution Form in the resources.
Zurich International Online (ZIO) is Zurich’s secure internet-based retirement system, which is accessible 24/7 from anywhere in the world. A few of the features of ZIO include the education hub; user-account information that can be viewed in 8 languages and several currencies; personal rate-of-return calculation at log-in; and user-defined statements at any time for any period, etc.
You can also view and manage your retirement plan account using the Zurich ZIO Members App. The ZIO App will display an overview of the fund values, contributions, withdrawals, and beneficiaries. The ZIO App is available for download from the Apple Store and Google Play.
To ensure that your desired beneficiaries receive your retirement account benefit in the event of your death, you will need to enter your beneficiaries in your Zurich International Online (ZIO) account. When naming or updating a beneficiary, please make sure that the beneficiary’s phone number, address, and email are current so AIARC and Zurich can contact the beneficiary about the payment of your retirement account.
To learn how to nominate a beneficiary, you can watch the ZIO instructional video Getting Started in ZIO available in the ZIO Video Library, which starts from two minutes and thirty-four seconds into the video. Once you have successfully recorded your beneficiaries, the “Update your Beneficiaries” button will turn to green on your ZIO homepage screen.
You can generate and download on-demand account statements at any time for any period (e.g., by month or quarter). To learn how to generate account statements refer to the ZIO instructional video Checking and Reviewing Your Account available in the ZIO Video Library.
To learn about the basics of investing, the different types (asset classes) of investments, what type of investor you are in regard to risk, and how much you should save for retirement, visit the Zurich Member Support Hub.
You can find retirement planning tools in the Member Support Hub, such as the savings calculator that will assist you in determining how much money you will need to save for retirement, and the risk profiler that will ask you a series of questions to help you asses your comfort level with risk when selecting your investments.
You can create your own investment strategy from the range of investment funds offered by the Plan. Information (e.g., objective, fees, etc.) about these funds can be found in the Fund Centre on the Zurich International Online (ZIO) website and in the International Retirement Plan Investment Guide.
You can find the available investment funds and their respective fund factsheets that contain information about historical returns and fees at the Fund Center on the ZIO platform. To learn how to search for funds, download fund factsheets, check fund prices, etc., refer to the Fund Center FAQs and Fund Center User Guide in the ZIO Resources.
You can review performance by accessing the Fund Center on the ZIO platform. From the tab bar, click on the type of performance that you would like to review — cumulative < 1 year, cumulative > 1 year, discrete, or annualized.
You can also use the rate-of-return calculator to calculate the return for each investment held or for your overall account. This calculation can be generated in a summary or a detailed report for the time-period selected and delivered directly to your ZIO inbox. To learn about the rate-of-return calculator, view the instructional video Retirement planning made easy or refer to the Rate of Return Calculator Guide.
It is important to understand that although you may no longer be employed by a Center, you can still remain in the International Retirement Plan and make withdrawals according to your needs. You will have the same account and functionality as if you were still actively employed, except you will no longer be eligible to make any contributions to the Plan.
Please note that if you are changing Employment Classifications at the same Center, you will not be eligible to make a withdrawal. For example, if you are changing your Employment Classification from a full-time employee to a part-time consultant, and you are continuing to receive benefits (e.g., medical, evacuation, etc.) through AIARC, you will still be classified as an Active Employee. Refer to the Employment Classifications of an Active Employee.
Once you are no longer employed by a Center (Separated or Retired), you are eligible to make withdrawals from your Retirement Account based on the following rules:
The minimum withdrawal amount for partial or a recurring option is USD 1,000, EUR 1,000, or YEN 100,000.
You have the option to request withdrawals in the following currencies: USD, GBP, AED, AUD, CHF, EUR, HKD, JPY, NOK, SEK, and SGD. If you would like to receive your payment in a currency that is not listed, the funds will be transferred in the currency of your account (policy) and your receiving bank will perform the currency conversion at your cost. Zurich may apply a currency conversion transaction charge based on the Bloomberg mid-day rate, adjusted by 0.175%.
There is a $5 wire fee charged by Zurich for processing your withdrawal. Zurich or AIARC will not be responsible for any charges that may be applied by your bank and/or your bank’s intermediary bank.
Please note that when you make a withdrawal, you will be required to complete the IARC International Retirement Plan Withdrawal Form and submit a current passport and proof of your residential address (e.g., bank statement, utility bill, lease rental agreement, property tax statement, etc.). Your passport will need to be certified by an approved certifier (e.g., lawyer, notary, etc.) or by submission of a photograph of yourself (recommended for convenience) with the document to comply with Anti-Money Laundering (AML) regulations.
To request a withdrawal from your retirement plan account, contact your Center’s AIARC Coordinator by visiting www.AIARC.org.
Upon receipt of the withdrawal form and certified documents and upon the successful completion of the security verification and Anti-Money Laundering requirements, you should receive your money between four to six weeks.
This section provides you with answers to the most frequently asked questions about the International Retirement Plan provided by Zurich International.
Zurich provides the International Pension Plan (IPP) platform for the investments offered by various fund managers, such as Blackrock, Fidelity, and Vanguard. Zurich is a major financial institution offering life assurance, investment, and protection solutions throughout the world, with licensed offices in the United Arab Emirates, Hong Kong, Bahrain, and the Isle of Man. Zurich is part of the Zurich Insurance Group, which was founded in 1872. Zurich has been helping businesses provide international retirement benefits to their employees for over 30 years, in particular delivering solutions for employers with internationally mobile employees. Zurich has over 790 corporate savings plans, with more than 97,000 plan members in 192 countries and holds over USD 5 billion in funds under administration in group savings assets. You can click the link to learn more about the History of Zurich. Zurich is committed to its long-term ambition to be one of the most responsible and impactful businesses in the world. You can click the link to learn more about Zurich’s Position on Sustainability.
Yes. The IARC Retirement Plan meets the criteria, established by the Organization for Economic Co-operation and Development (OECD), for a Broad Participation Retirement Fund, and the IARC Plan is registered with the Guernsey Tax Authority under Section 154-A. The primary criteria for this recognition are:
1) The age requirement for a Participant to receive a penalty-free withdrawal
2) The requirement that a Participant and his or her respective withdrawal amount is reported to a governmental tax authority that participates in the Automated Exchange of Information (AEoI).
The purpose of CRS and FATCA is to fight global terrorism and tax evasion. You can learn more by visiting the OECD Common Reporting Standard link.
Although Zurich provides the investment platform to participants, the AIARC Board, who are primarily senior-level employees from Centers, oversees the Plan, and AIARC is the administrator of the Plan.
ZIO stands for Zurich International Online, which is Zurich’s secure internet-based retirement system. You will use this system to manage your IARC Retirement Plan account. A few of the features of ZIO include the education hub; user-account information that can be viewed in 8 languages and several currencies; personal rate-of-return calculation at log-in; and user-defined account statements at any time for any period, etc.
After your first retirement plan contribution is made by your employer.
Yes, you can learn how to set up and access your account by viewing the following two videos: Logging into ZIO and Getting Started in ZIO in the ZIO Member Plan Video by visiting the ZIO Video Library link.
It is very important that you nominate beneficiaries to your retirement account because, in the event of your death, this ensures that your money goes to those individuals who you want to receive it. When naming or updating a beneficiary, please make sure that the beneficiary’s phone number, address, and email are current so AIARC and Zurich can contact the beneficiary about the payment of your retirement account. To learn how to name a beneficiary, you can watch the ZIO instructional video, Getting Started in ZIO, which starts from two minutes and thirty-four seconds into the video. Once you have successfully named your beneficiaries, the “Update your Beneficiaries” button will turn to green on your ZIO homepage screen.
You will be able to find information in the International Retirement Plan Participant Guide about eligibility, vesting, voluntary contributions, the default Target Retirement Fund investment, beneficiaries, withdrawal eligibility and Anti-Money Laundering (AML) requirements. This guide is available in your Zurich account and here in the Hub.
Often, a new Plan Participant does not have the time or the knowledge to make investment selections at the onset of his or her employment. As such, it is a common (and recommended) industry practice to invest the first contribution into a target retirement fund (TRF), which is based on the participant’s age, is invested in a diversified range of investment funds, and is automatically rebalanced to less risky investments as the participant nears age 65. To learn about TRFs, please refer to the TRF Website and TRF Guide.
Yes. Once your first retirement contribution has been made by your employer, you can change your investment selections and/or allocations at any time by logging into your ZIO retirement account. To learn how to switch your funds in your ZIO account, please refer to the ZIO Guide to Switching Investments or view the instructional video Changing Your Funds on the ZIO Plan Member Video by visiting the ZIO Video Library link.
Yes, the following Environmental, Social, and Governance (ESG) funds are available if you chose:
You can find the available investment funds and their respective fund factsheets that contain information about historical returns and fees at the Fund Center on the ZIO platform. To learn how to search for funds, download fund factsheets, check fund prices, etc., refer to the website links for the Fund Center FAQs and Fund Center User Guide. You can also find information about the investment funds in the IARC International Retirement Plan Investment Guide, along with the TRF Guide.
You can learn about the basics of investing as well as get information on the current market environment by visiting the Zurich Retirement Education Hub. Additionally, you can find retirement planning tools in the Education hub, such as the savings calculator that will assist you in determining how much money you will need to save for retirement, and the risk profiler-how to choose a fund that will ask you a series of questions to help you asses your comfort level with risk when selecting your investments.
You can review performance by accessing the Fund Center on the ZIO platform. From the tab bar, click on the type of performance that you would like to review — cumulative < 1 year, cumulative > 1 year, discrete, or annualized. You can also use the rate-of-return calculator to calculate return for each investment held or for your overall account. This calculation can be generated in a summary or a detailed report for the time-period selected and delivered directly to your ZIO inbox. To learn about the rate-of-return calculator, view the instructional video Retirement Planning Made Easy or refer to the Rate of Return Calculator Guide.
Yes, you can remain in the Plan. The only difference is that you will not be able to make contributions.
To be recognized as a Broad Participation Retirement Fund for CRS and FATCA purposes, the 33.33% penalty is assessed on withdrawals for Participants under age 55, unless the withdrawal is directly transferred to another retirement plan with similar age and penalty restrictions.
To comply with Anti-Money Laundering (AML) requirements imposed by governments around the world on financial institutions, you will be required to submit (1) a ceritified passport or other proof of identity. Zurich accepts driving licenses and national ID cards as proof of identity. (2) A certified lease agreement or a certified property tax bill with your name and address for proof of residence. Please note that a P.O. Box is not a physical address and will not be accepted.
For ZIO Technical Queries Contact Zurich Corporate HelpPoint Team:
Available Mon-Fri 08:00 and 17:00 (UK Time)
If Dialing From the Middle East
AIARC reserves the right to modify or terminate any of the benefits described at any time for any reason. Please note that AIARC is not your employer and nothing contained in this website should be construed to create an employer-employee relationship. Your Center is your employer.
AIARC
901 N. Washington St., Suite 706
Alexandria, VA 22314-1535
United States
Phone +1-703-548-4540
Fax +1-703-548-5960
Office hours are from 8:30 a.m. to 5:30 p.m. (0830 to 1730 U.S. Eastern Time), Monday through Friday
If you have questions about your benefits, please contact the AIARC Coordinator for your Center by visiting www.AIARC.org.
