Citi Benefits Handbook
Glossary
The following definitions apply to the Plan unless clearly indicated otherwise.
After-Tax Contribution Account
Your After-Tax Contribution Account holds any after-tax contributions you may have rolled over from another employer's qualified plan, a 403(b) plan, or a 457(b) plan of a government entity and after-tax contributions permitted in prior years for former Travelers Property Casualty and Copeland employees. You also may have after-tax contribution accounts from prior plans that were merged into the Plan. In addition, your After-Tax Account may hold certain pre-1987 contributions. Any earnings or losses on all such contributions are included.
Before-Tax Contribution Account
Your Before-Tax Contribution Account holds your traditional Before-Tax Contributions, i.e., contributions that were deducted from your pay before being subject to federal and, in some cases, state and local income taxes and any earnings or losses on those contributions. Your Before-Tax Contribution Account may hold your contributions to plans of a prior employer that were merged into this Plan. Pre-1999 contributions made to the Savings Incentive Plan of Citibank, N.A. and Participating Companies (previously known as Basic Award Contributions) are included.
Before-Tax Contributions
The contributions you contribute to the Plan on a before-tax basis.
Citigroup Common Stock Fund
An investment fund comprised of shares of Citigroup Common Stock.
Citigroup Stock Fund Dividend Account
The account established to hold dividends reinvested in the Citigroup Common Stock Fund.
Code
Internal Revenue Code of 1986, as amended.
Committee or Plan Administrator
The Plans Administration Committee of Citigroup Inc.
Company or Citi
Citigroup Inc. and its participating subsidiaries and affiliates. Participating subsidiaries include any U.S. entity in which the Company owns at least an 80% interest.
Company Contribution Account
Your Company Contribution Account holds the following contributions, adjusted for any earnings or losses:
Contribution
Description
Aetna Supplemental Contribution (Savings-Post 1997)
Employer contributions for former Aetna employees
Citibuilder Contributions
Contributions for eligible employees of Citibank (1999-2001); Citigroup Corporate (excluding the Citigroup Investment Group) 2000-2001; Total Benefits Outsourcing (TBO) and Institutional Divisions (ID) of CitiStreet LLC (2001); and The Associates (2001)
Company Matching Contributions
Contributions made by the Company for Plan Years beginning on or after January 1, 2002, and before January 1, 2008
Special 2007 Company Contributions
Contributions for certain acquired employees of ABN AMRO, Group Financiero Uno, Ecount, and Capmark
State Street Match
The employer matching contribution for State Street employees under the State Street Salary Savings Program prior to its merger into the Plan, effective July 1, 2001
Wellspring Match
The employer matching contribution for Wellspring employees under the Savings and Investment Plan for the Associates of Wellspring Resources, LLC prior to its merger into the Plan, effective July 1, 2001
Other company contributions
5% Discount: Pre-1997 employer 5% discount on purchases of employer common stock, which, prior to 2007, were restricted from transfer out of the common stock fund until age 55
Aetna Employer Match: 1996 employer matching contributions made for former Aetna employees
Copeland Match and Profit Sharing: Employer matching and profit-sharing contributions made prior to 1996 for employees of Copeland (or the Retirement Services Division of CitiStreet LLC)
Matching contribution accounts: For former employees of EAB, Fidelity Leasing, Associates, and Citibanamex
Pre-Merger 5% Discount-December 1989: Employer matching contributions for Travelers Group employees in the Primerica Holdings, Inc. Capital Accumulation Plan
Profit Sharing/Segregated Account: Employer contributions made prior to 1992 for employees of Primerica Financial Services under the PFS Primerica Corporation Savings and Retirement Plan; employer contributions made under the American Express Incentive Savings Plan, Shearson Lehman Brothers Holdings Inc. Employee Stock Ownership Plan, and the Retirement Plan of Phillip Brothers Inc. or the Phibro Energy Profit Sharing and Retirement Savings Plan.
Salomon 401(k) Match: Employer matching contributions made in cash prior to 1999 for Salomon employees
Salomon Guideline Benefit Contributions: Employer contributions made prior to 1999 for Salomon employees based on years of service
Special Company Contribution: Employer contributions made for certain employees of Citi Investment Group, CitiFinancial, National Benefit Life Insurance Co., Primerica, Salomon Smith Barney Inc., CitiStreet LLC Retirement Services Division, Travelers Property Casualty, Phibro, Travelers Life & Annuity, and Travelers Insurance Co.
Supplemental Awards: Pre-1999 Matching Contributions made to employees of the Savings Incentive Plan of Citibank, N.A. and Participating Companies
Travelers Match: Employer matching contributions for Travelers Property Casualty, Travelers Life & Annuity, Travelers Insurance Co., and Copeland (Retirement Services Division of CitiStreet LLC) employees (made prior to 1997 except for Travelers Property Casualty Transitional Benefit employees who received employer matching contributions through December 31, 1998)
Travelers Pre-Merger Match: Employer matching contributions for Travelers Group and Smith Barney employees made prior to 1997. Pre-merger matching contributions were made by the employer for Travelers Group and Smith Barney employees prior to the merger of the Primerica Holdings, Inc. Capital Accumulation Plan and the Smith Barney 401(k) Employee Savings Plan into the Travelers Group 401(k) Savings Plan.
Your Company Contribution Account also may hold your contributions to plans of a prior employer that were merged into this Plan.
Company Fixed Contribution Account
Company Fixed Contributions are held in this account, adjusted for any earnings or losses thereon.
Company Fixed Contributions
The Company Fixed Contributions made by the Company for eligible participants.
Company Matching Contribution Account
Matching Contributions made by the Company for 2011 and later years are held in this account, adjusted for any earnings or losses thereon.
Company Matching Contributions
The Company Matching Contributions made with respect to your Before-Tax and/or Roth After-Tax Contributions.
Company Transition Contribution Account
Company Transition Contributions made by the Company are held in this account, adjusted for any earnings or losses thereon.
Company Transition Contributions
The Company Transition Contributions made by the Company for eligible participants.
Default Investment Alternative
The Default Investment Alternative is the Plan's "target retirement date" fund consistent with your projected year of retirement, which, for this purpose, is the year you will become 65 years of age. If your age is not on file with the Plan, contributions will be invested in the target retirement date fund with a projected retirement date of 2020. The Plan has adopted target retirement date funds as its qualified Default Investment Alternative under Department of Labor regulations.
Disabled
A disability that would qualify a participant to receive long-term disability benefits under a Company disability plan. For purposes of the Plan, a participant becomes "Disabled" if he has incurred a disability and is no longer an employee.
ERISA
The Employee Retirement Income Security Act of 1974, as amended.
Exchange Act
The Securities Exchange Act of 1934, as amended.
Hours of Service
Each hour you are paid or entitled to payment for the performance of duties for a participating employer or any related entity of the Company. You also earn Hours of Service for vacation, holidays, illness, disability, and jury duty for which you are entitled to pay or hours for which back-pay awards are applicable. However, you may not receive more than 501 Hours of Service for any single, continuous period during which you perform no duties.
Investment Committee
The 401(k) Plan Investment Committee.
IRS
The Internal Revenue Service.
Money Purchase Plan Account
Contributions made for employees of prior employers who had money purchase plans (e.g., the Retirement Services Division of CitiStreet LLC, Citibanamex, and First American Bank), adjusted for any earnings or losses, are held in your Money Purchase Plan Account. A money purchase plan account is an employer contribution account that must be distributed in the form of an annuity, unless the participant and, if applicable, his or her spouse provides consent to another form of distribution.
One-Time Shearson Transition Contribution Account
A one-time contribution for certain former Shearson employees, as specified under the Plan, and any earnings or losses thereon.
Plan Year
January 1 through December 31.
QMAC/QNEC Account
This account includes 1990 and 1991 employer-qualified matching contributions for Travelers Group employees, other qualified matching contributions, and qualified non-elective contributions made to the Plan or prior plans, as adjusted for any earnings or losses on such contributions.
QVEC Account
This account holds pre-1987 qualified voluntary employee contributions (QVECs) under the Savings Incentive Plan of Citibank, N.A. and Participating Companies and QVEC contributions made by former employees of the Travelers Corporation (described in Appendix A), as adjusted for any earnings or losses on such contributions.
PAYSOP Account
Employer contributions under the Salomon Payroll Based Stock Ownership Plan or additional employer matching contributions made in stock prior to 1999 for Salomon employees and any earnings or losses thereon.
Profit Sharing Account
The Profit Sharing Account holds certain employer contributions to plans of a prior employer that were merged into this Plan including profit-sharing contributions made before 1980 for employees in the Savings Incentive Plan of Citibank, N.A. and Participating Companies; The Associates post-1991 profit-sharing and match; Wellspring plan employer non-elective contributions; EAB prior plan frozen matching contributions; certain Ecount employer contributions; and any earnings or losses thereon.
Rollover Account
This account holds your before-tax and after-tax rollover contributions made to the Plan or a prior employer plan from another employer's eligible retirement plan, as adjusted for any earnings or losses thereon. After-tax rollover contributions are held in a separate sub-account.
Roth After-Tax Contributions
The designated Roth Contributions that you make to the Plan on an after-tax basis and subject to the Roth distribution requirements.
Roth Contribution Account
This designated account holds your designated Roth After-Tax Contributions, which are deducted from your eligible pay after being subject to federal and, in some cases, state and local income taxes. Your Roth Contribution Account is adjusted for earnings or losses. Roth Rollover Account: This account holds Roth rollover contribution amounts, as adjusted for any earnings or losses on those contributions. This account also holds Roth rollover contributions to a prior employer plan that was merged into the Plan.
Trust
The trust established under the Plan for purposes of investing and holding the assets of the Plan.