Retirement Savings Plan

Overview

Whether retirement is years away or just around the corner, the Citi Retirement Savings Plan (Plan) helps you achieve your goals. It’s an easy way to prepare for a more secure financial future.

You’ll find more details about each of these plan features as you read through this page.

Immediate Eligibility & Automatic Enrollment After 90 Days

If eligible, you can enroll in the Plan and begin contributing on your first day at Citi. If you haven’t made an election after 90 days, Citi will automatically enroll you at a 6% before-tax savings rate with automatic annual increases.

Automatic Annual Increase

Automatic contribution increases of 1% from one year to the next help you make the most of the Plan.

Citi Contributions

Citi offers matching and fixed contributions, if eligible, to help you reach your retirement goals.

Vesting

You are always 100% vested in your own contributions and the company match.

A beneficiary is the person (or people) you choose to receive the value of your retirement savings account upon your death. It’s very important to provide this information to ensure your money is distributed according to your wishes. Learn more about beneficiaries and how to name or update them.

Make the Most of the Plan at Each Life Stage

Are you just starting out? Mid-way through your career? Or nearing retirement? The Citi Retirement Savings Plan can help you address the goals most important to you at each life stage.

The Health Savings Account (HSA) provides another way to save for retirement. If you are enrolled in the High Deductible Plan with HSA, be sure to open your HSA so you can contribute tax-free money and receive contributions from Citi to help cover the cost your medical care. Whatever you don’t need for today’s eligible expenses can be saved up for the future, giving you a tax-free way to plan for one of retirement’s biggest expenses — health care.

Please note: This website includes a brief summary of the basic terms of the Citi Retirement Savings Plan. If there is any conflict between this website content and the Plan document, 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.

Your Contributions

Consistently contributing to the Plan is one of the best ways to build savings for a more secure retirement. And thanks to the power of compounding returns, the sooner you start, the better! That’s because your reinvested earnings have the potential to build over time. Whether you can afford to contribute a little or a lot, make investing for your future a priority — you’ll be glad you did!

If you were automatically enrolled in the Plan, Citi will automatically increase your contribution rate by 1% each year in March to help you maximize your savings. This annual increase continues over a nine-year period up to a maximum of 15%. Upon reaching a contribution rate of 15% of your eligible pay, the automatic annual increases will stop. However, you can change your automatic increase percentage or opt out of the automatic escalate feature at any time. You can also manually adjust your contribution rate whenever you want.

If you enrolled yourself in the Plan and would like to take advantage of the automatic increase feature, you can sign up online on My Total Compensation and Benefits.

You can choose to make before-tax or after-tax Roth contributions — or both. Here’s the difference:

When you contribute before-tax dollars, you lower your taxable income now and then pay taxes when you withdraw the money instead.
When you contribute Roth after-tax dollars, you pay taxes on your contributions today, and take your withdrawals tax-free later.

The Plan provides flexibility to contribute to either or both types of accounts if you wish to do so.

	Before-Tax Option	Roth After-Tax Option
Paycheck Contributions	Before-tax	After-tax
Reduces Taxable Income Now	Yes	No
Pay Taxes on Earnings	Yes, federal and most state income taxes apply to earnings, but not until you withdraw from the account.	No, taxes do not apply to earnings withdrawn in a qualified distribution.*
Pay Taxes at Distribution (e.g., when you retire)	Yes, federal and most state income taxes apply to withdrawals of contributions.	No, taxes do not apply to withdrawals made in a qualified distribution.*
Maximum Contribution	You can contribute up to 50% of eligible pay, up to a maximum of $23,500 in 2025.**

* For Roth distributions to be tax-free, you must be at least age 59½, permanently disabled, or deceased and the distributions must occur no earlier than during the fifth taxable year after the taxable year in which you made your first contribution.

** Employees age 50 and older can make catch-up contributions. If you will turn age 50 – 59 or age 64 or older in 2025, you can contribute an additional $7,500. If you will turn age 60 – 63 in 2025, you can contribute an additional $11,250.

The Plan offers investment options for every type of investor, whether you are a confident “do-it-yourselfer” or you’d rather have a professional do it for you. Through the Plan’s investment options, you have a choice of:

“Do-it-for-me” target date funds – Choose a pre-diversified index fund based on your age. These funds automatically shift their investment mix over time, becoming more conservative as you near retirement. They make a great option for the hands-off investor who likes the convenience of choosing a single fund.
“Do-it-yourself” individual funds – Choose from a wide selection of index and actively managed funds that invest in different asset classes to create your own diversified portfolio. These funds offer flexibility for the experienced investor.

You can choose to invest your account balance in any of the investment funds offered, and you can change your allocation at any time. However, if you elect to transfer funds between investment options you may not make another change for the next seven calendar days (except for certain transfers to money market funds).

If you are automatically enrolled in the Plan and have not made an investment election, your contributions will be invested in the target date fund that most closely matches your expected year of retirement.

Need help with your investment decisions? You can speak with an AFA Investment Advisor for personalized advice by calling 1 (800) 881-3938. From the “benefits” menu, select the “401(k) Plans” option, then “Contact an Advisor Regarding Investment Advice and Financial Guidance.” AFA Investment Advisors are available 9 a.m. to 9 p.m. ET, Monday through Friday.

Citi Contributions

Citi Matching Contributions

Citi helps you save for retirement. In addition to your own contributions, Citi matches contributions to your account, allowing you to build your savings faster.

You are eligible for Matching Contributions on the first of the month after you have worked at Citi for one year:

Citi contributes $1 for each $1 that you contribute to the Plan, up to 6% of your annual eligible pay. (A maximum of $200,000 annual eligible pay is used when calculating the match.)
Citi’s contributions are posted annually to your account.
You are always 100% vested in Citi’s Matching Contributions and you will keep these funds if you leave Citi for any reason.

Citi Fixed Contributions

Citi will make an annual Fixed Contribution (meaning you receive the contribution whether or not you make your own contributions to the Plan) if your qualifying compensation is $100,000 or less and you have completed at least one full year of employment.

Here is how the Fixed Contribution works for eligible employees:

If you have completed at least one year but fewer than two years of employment as of December 31, you are eligible for a Company Fixed Contribution of 1% of eligible pay.
If you have completed two or more years of service as of December 31, you are eligible for a Company Fixed Contribution of 2% of eligible pay.
The Fixed Contribution will be made to the accounts of eligible participants after the end of the year; for example, this year’s contribution would be contributed to your account next year; contributions will generally be posted by the end of the first quarter.
You do not need to contribute to the Plan to receive a Fixed Contribution.
Your Fixed Contributions will be invested in the same investment options as your before-tax contributions.
You are vested in Citi’s Fixed Contributions after three years of employment.

For additional rules and details about Fixed Contributions, including eligibility provisions, review the Retirement Savings Plan SPD.

Financial Advice

Whether you’re focused on budgeting, reducing debt or building savings, Citi offers resources to assist you with your money matters. The experts at Alight Financial Advisors (AFA) are available to help you in a variety of ways.

Each spring, you'll receive a personalized retirement evaluation from Alight Financial Advisors. This evaluation tells you how effective your current retirement savings strategy may be in helping you reach your financial goals. Based on recommendations you receive as part of the evaluation, you may want to consider adjusting your contribution and/or investment strategy.

Vesting

When your contributions are “vested,” you have ownership and the full right to your account balance, even after you leave Citi.

You are always 100% vested in:

Your own contributions
Your Citi Matching Contributions

After three years of employment, you become 100% vested in:

Your Citi Fixed Contributions

Under certain limited circumstances, Citi’s Fixed Contributions will automatically vest.

Withdrawals and Loans

While the Plan is designed for long-term investing to help fund your retirement, the Plan allows you to withdraw or borrow from your accounts while you are still actively employed by Citi in certain circumstances.

Withdrawals

IRS and Plan rules specify which of your accounts are eligible for withdrawal while you are employed and under what circumstances. These withdrawals may result in taxable income and/or tax penalties to you.

Amounts are withdrawn pro-rata across all your investment options. The amounts withdrawn may only be in cash. You may wish to consult a tax adviser before taking a withdrawal from the Plan.

Loans

You may be able to borrow against your Plan accounts while you are working for Citi by taking a loan from the Plan.

The Plan Administrator will decide whether to grant the loan based on IRS and Plan rules and its decision will be final. You are required to repay any loan taken from the Plan. When you repay these loans, you repay your account with interest on an after-tax basis over a period of 12 to 60 months.

Note: Any money Citi has contributed since 2017 (for the 2016 Plan year or after) is not available for loan purposes (e.g., Citi Matching, Fixed and Transition Contributions, plus all earnings). The only money that is available for loans is the money you contribute to your account and any Citi contribution made prior to 2017.

You may wish to consult a tax adviser before borrowing from the Plan.

Citi recognizes that financial emergencies arise, but a loan from your Plan account should not be your first option when you are in need of financial assistance. A loan from your Plan account can take a bite out of your retirement savings — possibly jeopardizing the lifestyle you may envision for the future. And the required after-tax repayments will make it harder to get back on track. Then you’ll have to pay taxes again when you withdraw the money in retirement if your original contributions were made before-tax.

Citi wants you to live well and save well. Before taking a loan, be sure to consider other debt reduction options and think through the impact that taking a loan against your Plan account can have on your retirement savings. If you need help managing your debt or other financial obligations, contact AFA for free guidance. Call 1 (800) 881-3938 9 a.m. to 9 p.m. ET, Monday through Friday.