Citi Benefits Handbook
Enrollment
Voluntary Enrollment in the Plan
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 be deposited.
Your contributions will be deducted from your pay with the next available pay period after your enrollment is processed.
You can enroll online through TotalComp@Citi at www.totalcomponline.com or by calling the Citi Benefits Center as described under "How to Contact the Plan."
Automatic Enrollment after 90 Days
The Plan has an automatic enrollment feature to encourage savings if you have not otherwise enrolled in the Plan. When you are automatically enrolled in the Plan, 6% of your eligible pay is withheld from your pay each pay period and contributed to the Plan as a traditional Before-Tax Contribution (not as a Roth After-Tax Contribution).
If you are a full-time or a part-time employee regularly scheduled to work 20 or more hours a week: You will be enrolled in the Plan automatically 90 days after your date of hire or rehire. If you do not want to contribute to the Plan, or if you wish to contribute more or less than 6% of your pay, you either must opt out or elect a different percentage within 90 days of your date of hire (or rehire) by calling the Plan or visiting the Plan's website accessible through TotalComp@Citi at www.totalcomponline.com.
If you are a part-time employee regularly scheduled to work less than 20 hours a week: You will be enrolled in the Plan automatically 90 days after the date you become eligible to participate in the Plan as described under Eligibility. If you do not want to contribute to the Plan, or if you wish to contribute more or less than 6% of your pay, you must either opt out or elect a different percentage within 90 days of your eligibility date by calling the Plan or visiting the Plan's website accessible through TotalComp@Citi at www.totalcomponline.com.
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. If you are automatically enrolled, you may increase or decrease your future contributions at any time by contacting the Plan.
In general, after you have met the eligibility requirements for Company Matching Contributions, the Company will match one dollar for each dollar you contribute, up to a maximum of 6% of your annual eligible pay up to the limit established by the Internal Revenue Service (IRS). The automatic enrollment feature is designed to encourage you to get the most from these Company Matching Contributions. See "Company Matching Contributions" for information about eligibility for the Company Matching Contribution.
Investment of Automatic Contributions
See "Investing Your Contributions" for an explanation of how your automatic contributions are invested.
Automatic Increases in Your Contribution Rate
As of January 1, 2016, if you were automatically enrolled in the Plan and have not changed your contribution percentage, your contribution rate will be increased automatically by 1% each year over a nine-year period to a maximum of 15%. At 15%, the automatic annual increases to your contribution rate will stop.
The first contribution rate increase for employees automatically enrolled in the Plan between January 1 and June 30 of any year will take effect March 1 of the following calendar year.
The first contribution rate increase for employees automatically enrolled in the Plan between July 1 and December 31 of any year will take effect March 1 of the year following the first full calendar year of automatic enrollment.
After the first automatic rate increase occurs, an additional 1% rate increase will take effect on March 1 of each subsequent calendar year until the 15% limit is reached.
Note: Prior to January 1, 2016, employees were automatically enrolled in the Plan at a rate of 3%, with an automatic increase of 1% each year until reaching 10%.
Examples
  • If you were automatically enrolled between January 1 and June 30, 2015: Your first automatic increase was effective March 1, 2016.
  • If you were automatically enrolled between July 1 and December 31, 2015: Your first automatic increase will be effective March 1, 2017.
  • If your first automatic rate increase will be effective March 1, 2017, and you continue to contribute to the Plan without changing your rate of contribution to the Plan, another increase will occur automatically effective March 1, 2018 (for a total Before-Tax Contribution rate of 8% of eligible pay). Unless you have contacted the Plan to change your contribution rate, rate increases will continue automatically at 1% per year until March 1, 2025, when you will reach the 15% limit.