Citi Benefits Handbook
On or After Normal Retirement Date
If you retire on or after your Normal Retirement Date, age 65, you may elect to take a distribution of all or a portion of your vested accounts. If you are age 65 or older and the value of your Plan accounts is $5,000 or less, your accounts automatically will be distributed to you as a cash lump sum with applicable taxes withheld. This distribution will not be eligible for an automatic rollover by the Plan.
If the value of your Plan accounts is greater than $5,000, you may elect to take a distribution at any time or you can leave your accounts in the Plan. However, you must begin to receive your money by April 1 following the calendar year in which you reach age 70-1/2. While your money remains in the Plan you can continue to direct the investment of your account. You may not borrow from your account after termination of employment.