Citi Benefits Handbook
Following Termination of Employment
When you leave the Company:
  • If the value of your Plan accounts is $1,000 or less, your accounts automatically will be distributed to you in a lump sum with applicable taxes withheld.
  • If the value of your Plan accounts is at least $1,000 and does not exceed $5,000, and you do not choose to receive a distribution of your accounts or roll them over into an IRA or other retirement vehicle within 90 days after you receive a notice from the Plan, your account automatically will be rolled over into a Citibank IRA and invested in accordance with the Plan's procedures for auto rollovers. You are responsible for deciding how you want this IRA invested.
  • If your Plan account was rolled over to a Citibank IRA and you have questions concerning your rollover, you can contact Citibank Retirement Plan Services, Monday through Friday from 8 a.m. to 10 p.m. ET, and Saturday from 9 a.m., to 5:30 p.m. ET at 1 (800) 695-5911.
  • If the value of your Plan accounts is greater than $5,000, you may request 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.