Benefits Eligible Pay

For purposes of most Citi benefits, benefits eligible pay for the plan year consists of:

  • The annual base pay as of June 30 of the calendar year which precedes the current plan year (the “Prior Year”)
  • Any commissions paid during the calendar year which precedes the Prior Year
  • Any cash bonuses paid during the calendar year which precedes the Prior Year (excluding Annual Discretionary Incentive Awards)
  • Annual discretionary Incentive award/ retention award package dated in the Prior Year (including if applicable, Capital Accumulation Program Award and deferred cash awards)
  • Any STD benefits paid in the calendar year preceding the Prior Year (for commission-only employees)

Notwithstanding the foregoing, the list of items that constitute benefits eligible pay under the Plan is exclusive, and shall not include any extraordinary payments, including, but not limited to those related to settlements or forgivable loans, unless specifically set forth in the plan document or in an agreement or statement of policy.

For Financial Advisors: In your first year of employment, your benefits eligible pay is considered to be $60,000. If you earned more than $60,000 at a previous employer in the prior year and want your insurance coverage to represent your prior earnings, you must provide a copy of your previous year’s Form W-2 Wage and Tax Statement to your HR representative within 30 days of your hire date.

If you were hired or rehired on or after June 30 of the Prior Year, your benefits eligible pay is your base pay as of your date of hire or rehire.

Note: Your benefits eligible pay may not necessarily be the same as your Form W-2 compensation