Citi Benefits Handbook
If You Die
In the case of your death, your beneficiary can receive the vested value of your Plan accounts as a distribution after your death.
If you are married, your spouse will be your beneficiary unless you have designated someone else. Your spouse must consent to your naming another beneficiary, and the consent must be in writing and witnessed by a notary public on the form issued by the Plan Administrator.
At the time of your death, if your beneficiary is your spouse, your spouse can leave the balance in the Plan until the date you would have reached age 70-1/2. If your beneficiary is not your spouse, payment must be made in a lump sum not later than December 31 of the year that includes the fifth anniversary of the date of your death or payment must commence over your beneficiary's lifetime no later than December 31 of the Plan Year that includes the first anniversary of the date of the participant's death.
If you have not named a beneficiary and are not married, or your beneficiary is not living at the time payment is made, your account balance will be paid to your estate.
Keep your beneficiary designation up to date since, in the event of your death, your account will be paid in full to the beneficiary or beneficiaries you have named. Your beneficiary designation must be on file prior to the date of your death to be effective.
To designate your beneficiaries, visit the Plan website as instructed under "How to Contact the Plan."