Citi Benefits Handbook
When Benefits Are Not Paid or Reduced
This SPD describes how the Plan provides benefits to you or your beneficiary. It is important that you understand the conditions under which benefits could be less than expected or not paid at all. These conditions include the following:
  • If you leave the Company and all affiliates before you have satisfied certain service requirements, in general, you will forfeit the value of certain Employer contributions to your account. For more information, see "Vesting."
  • You could lose your benefits if they are payable after you terminate employment and the Plan Administrator is unable to locate you at your last known address. Therefore, you must notify the Plan of any changes in your mailing address.
  • If, as a result of a divorce, you are responsible for child support, alimony, or marital property rights payments, all or a portion of your benefits could be assigned to meet these payments if a court issues a QDRO (see "Nonalienation and Qualified Domestic Relations Orders (QDROs)").
  • Your benefits may be offset by any amount that you are ordered to repay the Plan due to any criminal or fiduciary malfeasance relating to the Plan. Your Plan benefits may be reduced or eliminated if the Plan Administrator receives a notice of tax lien from the IRS to satisfy obligations to the IRS.