Citi Benefits Handbook
Transfers and Reallocations
You can move a specific dollar amount from one investment option offered under the Plan to another option by calling the Plan or visiting the Plan's website, as instructed under "How to Contact the Plan." This transaction is called a "fund transfer."
You may also reallocate specific percentages of your accounts to specific investment options. For example, if your Plan assets are invested 75% in the BlackRock S&P 500 Fund and 25% in the BlackRock Cash Fund: Treasury, you may reallocate your accounts to 50% in each fund without specifying a dollar amount. This type of transaction is a "reallocation." Reallocations are available across all accounts.
To make a fund transfer or reallocation, contact the Plan as instructed under "How to Contact the Plan." If the request is received and confirmed before 4 p.m. ET, Monday through Friday, your transfer will take effect that day.
If the NYSE closes before 4 p.m. ET, the deadline is the time the market closes.
A fund transfer or reallocation does not change your investment elections for future contributions. If you are enrolled in the Alight Financial Advisors (AFA) Professional Management Program, you will not be able to process a fund transfer or reallocation.
In general, if you elect a fund transfer or reallocation you may not make any other Plan investment transactions for the next seven calendar days (except for certain transfers to money market funds).
You are not permitted to transfer Plan assets into any of the Plan's closed funds. You may transfer all or part of your Plan assets out of the Plan's closed funds. If you want to move money out of a closed fund, you must transfer the money, not reallocate it.
When Transfer and Reallocation Requests Are Processed
Fund transfer or reallocation requests that are received by 4 p.m. ET are processed as of that day using the closing values for that day, or as reasonably practicable thereafter. Fund transfer requests that are received after 4 p.m. ET will be processed on the next business day using the closing values for that day. Certain exceptions apply to this general rule, such as when the market closes earlier than 4 p.m. ET or is not open for business on that day (i.e., a holiday or a weekend). If your transaction cannot be completed because the closing value of your Plan account has fluctuated as a result of market volatility you will be notified and you will need to initiate a new request.