Citi Benefits Handbook
Important Information about this Benefits Handbook
This handbook describes the Citi Retirement Savings Plan (the "Plan") as in effect January 1, 2021 and serves as a Summary Plan Description ("SPD"), for employees of Citigroup Inc. and its participating subsidiaries and affiliates (together referred to as the "Company" or "Citi"). Participating subsidiaries include any U.S. entity in which Citigroup Inc. owns at least an 80% interest. U.S. employees of Consumer Banking, Securities and Banking, Transaction Services, Corporate/other and Citi Holdings participate in the Plan as well as certain other employees of affiliated companies as described in the Plan. For a complete list of all the participating employers, please contact the Citi Benefits Center.
This SPD has been written, to the extent possible, in non-technical language to help you understand the basic terms and conditions of the Plan as they are in effect from time to time. This description is intended to be only a summary of the major highlights of the Plan. In addition, this SPD constitutes a part of a prospectus covering securities that have been registered under the Securities Act of 1933. For more information about the prospectus and the materials incorporated into the prospectus, please see the prospectus. To review the prospectus, please contact the Plan (see "How to Contact the Plan"). This SPD does not incorporate by reference or otherwise any documents which have been filed with the U.S. Securities Exchange Commission by the Company.
No general explanation can adequately give you all the details of the Plan. This general explanation does not change, expand or otherwise interpret the terms of the Plan. If there is any conflict between the Plan document and this description, or any written or oral communication by an individual representing the Plan, the terms of the Plan document (as interpreted by the Plan Administrator in its sole discretion) will be followed in determining your rights and benefits under the Plan. If you want a paper copy of the Plan document, please contact the Plan (see "How to Contact the Plan").
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and the Internal Revenue Code of 1986, as amended (the "Code").
The Company reserves the right to amend, modify, suspend or terminate the Plan, in whole or in part, at any time without prior notice, to the extent allowed by law. This means that the Company has the right to change Plan terms (including eligibility for benefits) or to discontinue any part or all of the benefits described herein at any time. Investment options under the Plan also are subject to change at any time without prior notice.
Nothing contained in the Plan or this SPD is to be construed as an express or implied contract of employment for any definite or continuing period of time or for any benefits associated with employment. Likewise, participation in the Plan does not limit the Company's right to terminate your employment regardless of your Plan participation. Your employment is on an at-will basis.