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- If you do not make an election, Citi will automatically enroll you in the Plan at a 6% savings rate on a before-tax basis. Each year, your rate will increase by 1%. You can change or stop your contributions at any time on My Total Compensation and Benefits.
www.citibenefits.com/Savings-Pay/Retirement-Savings-Plan
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What if I don’t want to participate in the Plan? • You can decline enrollment during your benefits enrollment session, by going to Your Benefits Resources (YBR™) available through My Total Compensation and Benefits at www.totalcomponline.com or by calling the Citi Benefits Center via ConnectOne at 1 (800) 881-3938 within 90 days of your ...
Aug 27, 2024 · If you do not make an election, Citi will automatically enroll you in the Plan at a 6% savings rate on a before-tax basis. Each year, your rate will increase by 1%. You can change or stop your contributions at any time on My Total Compensation and Benefits.
Citi: Helping you get a jump on saving Ideally, we’d like to see you enroll in the Citi Retirement Savings Plan (the “Plan”) as soon as you’re eligible to participate. But life happens, which is why Citi will automatically enroll you in the Plan 90 days from the date you become eligible, unless you enroll sooner, elect to make
The Plan includes an automatic enrollment and contribution escalation feature that helps many Citi employees start saving for retirement — and then keeps them saving a little more every year until they reach the Plan's preset savings goal.
- Effective January 1, 2019
- Important Privacy Information About the My Total Compensation and Benefits Website
- Plan Administrator
- Effect of Transfer or Employment Classification Change
- Re-Employment
- Voluntary Enrollment in the Plan
- Naming a Beneficiary
- No Beneficiary Designation
- Contributions to Your Accounts
- Eligible Pay
- Before-Tax Contributions
- Roth After-Tax Contributions
- Check Your Pay Statement
- Important Notes about Company Matching Contributions
- One-Time Shearson Transition Contribution
- Contributions for Participants Returning after Qualified Military Service
- Your Accounts
- Roth In-Plan Conversions
- If You Are Rehired
- Forfeitures
- Investing Your Plan Accounts
- Investing Your Contributions
- How to Make a Dividend Election
- Changing Your Elections
- Important Facts about Automatic Rebalancing:
- Restrictions on Fund Transfers, Reallocations and Rebalancing
- Online Advice
- Lipper Fund Fact Sheets
- Alight Financial Education Center
- Important Information
- Pay Off Your Loan Early
- Defaulted Loans
- Treatment of Loans While on Qualified Military Service Leave
- Withdrawals
- Distributions from Your Accounts
- How Benefits Are Taxed
- Taxation of Plan Participants
- State Tax Withholding
- Tax Rules for Common Stock
- Taxation of Employer Contributions
- Plan Administrator/Agent for Legal Process
- Plan Fees and Expenses
- Plan Confidentiality
- Use of Personal Information
- Investing Restrictions
- When Benefits Are Not Paid
- Nonalienation and Qualified Domestic Relations Orders (QDROs)
- Account Statements
- Electronic Communications
- Top-Heavy Provisions
- Appeals Procedure
- Your Rights under ERISA
- Prudent Actions by Plan Fiduciaries
- Glossary
- Before-Tax Contributions
- Citigroup Common Stock Fund
- Citigroup Stock Fund Dividend Account
- Committee or Plan Administrator
- Company Contribution Account
- Company Fixed Contribution Account
- Company Fixed Contributions
- Company Matching Contributions
- Company Transition Contribution Account
- Company Transition Contributions
- Disabled
- Money Purchase Plan Account
- One-Time Shearson Transition Contribution Account
- Rollover Account
- Roth After-Tax Contributions
- Roth Contribution Account
- Trust
- Loans
Live Well at Citi Citi Retirement Savings Plan Saving for retirement is an important consideration for all of us. The Company offers the Citi Retirement Savings Plan (the “Plan”) to encourage you to become an active participant in planning and saving for your financial future. The Plan offers a number of advantages designed to help make saving easi...
You will need a user ID and password to log on to the website. Keep in mind that your password can be used to access your personal account information and request transactions such as withdrawals and distributions. It is also your legal signature for all Plan transactions, so you are responsible for maintaining the confidentiality of that informati...
The Plans Administration Committee of Citigroup Inc. (the “Committee”) is the Plan Administrator and is responsible for the operation and administration of the Plan. The Committee has such powers as may be necessary to carry out the provisions of the Plan, including the power and discretion to determine all benefits and resolve all questions pertai...
If you are a Plan participant who transfers to another company that does not participate in the Plan or your employment classification changes so that you no longer qualify as an employee eligible to participate in the Plan, or if you transfer outside the United States (except as an expatriate employee who meets the applicable requirements set fort...
If you were a Plan participant who terminated employment with the Company and are subsequently rehired, you will be eligible to actively participate in the Plan again immediately on the day your re-employment begins. If you had not yet met the eligibility requirements when you terminated employment, you must meet those requirements to participate i...
You may begin contributing to the Plan after you become eligible. When you enroll, you decide: What percentage of your eligible pay you want to contribute to the Plan; If you want to contribute to the Plan through traditional Before-Tax Contributions and/or Roth After-Tax Contributions; and In which investment options you want your contributions to...
As a participant in the Plan, you will be asked to name a beneficiary (the person or persons or your estate that will receive benefits in the event of your death) and the percentage payable to that beneficiary. If you are married and you name someone other than your spouse as a beneficiary, an authorization form will be mailed to your home. You m...
If you do not name a beneficiary during your lifetime, or if none of the beneficiaries you designated is alive at the time of your death, your benefit will be paid to the following persons (if still living) in the following order of priority: (a) your spouse or your registered domestic partner if you are not married, (b) your children (including ad...
After your enrollment in the Plan, accounts will be established within the Plan to keep track of the different types of contributions that may be made to the Plan for your benefit, as well as any earnings on those amounts.
Most of the potential contributions to the Plan are calculated as a percentage of your eligible pay. Eligible pay must be earned while you are an eligible employee of the Company and consists of the following: Base pay, plus overtime and shift differential, paid to you during the calendar year; Annual, monthly, quarterly or other performance-...
Before-Tax Contributions are deducted from your pay before federal — and, in most locations, state and local — income taxes are withheld. Since your taxable income is reduced, you should owe less income tax for the current year. Before-Tax Contributions do not reduce Social Security or Medicare taxes or Social Security benefits. Taxes are deferre...
Roth After-Tax Contributions differ from traditional Before-Tax Contributions in the way income tax applies when you contribute and when you take a distribution from the Plan. While your income tax is not reduced when you make Roth After-Tax Contributions, your distribution may be tax-free. When you make Roth After-Tax Contributions, your federal...
If you contribute to the Plan and/or have a Plan loan, check your pay statement to be sure the correct amount is being deducted. Citi makes every effort to deduct the correct amounts, but it is your responsibility to review your pay statement. If you discover any error in your deduction or loan payment amount, call the Plan immediately as instructe...
Your Company Matching Contribution for a Plan Year is based on the contributions you make during the entire Plan Year and therefore, you may vary your contribution amount throughout the year and still be eligible for the maximum Company Matching Contribution. As long as you contribute at least 6% of eligible pay based on your eligible compensation ...
The Plan provides for a one-time employer contribution to the accounts of certain former employees of Shearson Lehman. See “Appendix C — Other Company Contributions” on page 57 for details on this Company Contribution. The Aetna Supplemental Contribution and the One-Time Shearson Transition Contribution are invested according to the investment el...
If you return to employment following a period of Qualified Military Service, you will be permitted to make additional Before-Tax Contributions, Roth After-Tax Contributions and Catch-Up Contributions, up to the amount that you would have been permitted to make if you had continued to be employed and received pay during the period of Qualified Mili...
You have one or more “accounts” within the Plan that keep track of the types of contributions that have been made to the Plan for your benefit. Understanding your accounts is important to understanding your investment, vesting, withdrawal and distribution rights. Your accounts hold contributions as adjusted for any earnings or losses on those con...
Certain Plan participants are able to convert existing non-Roth Plan balances to after-tax Roth amounts. If you are eligible for and choose this option, you will have taxable income in the year of conversion; however, you may receive tax-free earnings when you receive distributions in the future. Your Roth conversion amounts will be held in a Roth ...
If you are not fully vested when you leave the Company and are subsequently rehired, the length of your absence, called a break in service, can affect your vesting service for your Company Fixed Contribution Account and Company Transition Contribution Account. A break in service is a Plan Year in which you are credited with fewer than 501 Hours of ...
Any forfeiture restored to your Plan account will be invested in the Plan’s Default Investment Alternative. You may then elect a different investment option for this amount pursuant to the Plan’s fund transfer procedures.
You can choose from a wide range of options in which to invest your accounts. In general, the Plan’s investment options are selected and monitored by the 401(k) Plan Investment Committee (the “Investment Committee”), which is the fiduciary committee charged with oversight of the Plan’s investment menu (other than the Citigroup Common Stock Fund and...
Through the Plan’s investment options, you have a choice of: Pre-diversified funds that shift in investment mix, according to your age; Index funds; Actively managed funds; and/or The Citigroup Common Stock Fund. If you enroll in the Plan, you choose the investment options in which contributions to your accounts will be invested. That inv...
You can call the Plan or visit the Plan’s website, as instructed under “How to Contact the Plan” on page 1 to elect to receive any dividends allocated. Your election on file on the day the dividend is allocated will determine if your dividend will be paid to you in cash or reinvested in the Citigroup Common Stock Fund. You may change your electio...
At any time you can change the options in which your current or future contributions will be invested by calling the Plan or visiting the Plan’s website through My Total Compensation and Benefits at www.totalcomponline.com. If your change is received and confirmed by 4 p.m. ET, Monday through Friday your new investment mix will take effect that day...
You may choose annual, semiannual, or quarterly rebalancing. If you have an automatic rebalancing election on file and subsequently initiate a fund reallocation, your automatic rebalancing election may be canceled, unless you re-elect the function. In order to process a fund transfer, you must cancel any pending auto-rebalancing election on file....
In general, you may move your Plan assets among the Plan’s investment options through a fund transfer, reallocation, or rebalance no more frequently than once every seven calendar days. An exception to this rule is that you may move your Plan assets into the BlackRock Cash Fund: Treasury at any time. However, once you move your Plan assets into t...
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.
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Once you are enrolled in the Plan, you cannot receive a refund of any contributions made to the Plan, so you should consider your options during your first 90 days. You may increase, decrease or suspend your future contributions at any time by contacting the Plan.
No retirement savings and doesn’t participate in any employer plan (typically works jobs where this isn’t an option). So what happens when all of these people age out of working around the same time?
