Citi Benefits Handbook
Definition of Benefits Eligible Pay
Enrolling During the Annual Enrollment Period
If you are enrolling during the Annual Enrollment period for coverage effective January 1, 2023, your benefits eligible pay for purposes of benefits enrollment is made up of the following:
1. Annual base pay of current year as of June 30, 2022;
2. Commissions paid from January 1 – December 31 in the year prior to enrollment to capture an entire year of commissions paid; commissions paid from January 1 – December 31, 2021, will be used for the 2023 Annual Enrollment calculations;
3. Cash bonuses (other than the cash portion of any annual discretionary incentive/retention award package) paid in the period January 1 – December 31 in the year prior to enrollment; cash bonuses paid in the period January 1 – December 31, 2021, excluding the cash portion of the annual discretionary incentive award/retention package dated January 2021, will be used for the 2023 Annual Enrollment calculations;
4. Annual discretionary incentive/retention award package dated in the year of enrollment includes, as applicable, cash bonus, Capital Accumulation Program (CAP) Award and Deferred Cash Award. Annual discretionary incentive/retention award packages dated January/February 2022 will be used for the 2023 Annual Enrollment calculations; and
5. Short-Term Disability (STD) benefits paid from January 1 – December 31, 2021, for employees paid commissions only.
If You Are Enrolling as a New Hire or Newly Eligible Employee
Your benefits eligible pay at the time you are hired (if after June 30, 2022) is equal to your annual base salary. If you are to be paid commissions only, your benefits eligible pay is calculated differently and is based either on a default amount or an amount established as appropriate for your position. Ask your HR representative for details.
For future years, your benefits eligible pay will be based on a formula that includes your actual base pay plus commissions, performance-based bonuses and annual incentive bonus. Your benefits eligible pay for subsequent years will be determined under the Plan rules for Annual Enrollment as noted above.
Note: Your benefits eligible pay does not necessarily equal the amount reported as your salary and wages on your Form W-2 Wage and Tax Statement ("Form W-2").
If You Become Disabled
In the event that you go out on a disability, if your leave extends beyond the benefits eligible pay calculation period for purposes of annual enrollment for the 2023 plan year or beyond, your benefits eligible pay will be recalculated for annual enrollment after you return from the disability leave. Your benefits eligible pay will not change while you are out on a disability leave.