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Administration December 4, 2002
Citigroup Shareholders to Vote on Matching Gifts Program
April 12, 2002 (PLANSPONSOR.com) - Citigroup
shareholders will vote on whether to restore the employee
matching gifts program that was cast aside after the
Citicorp's merger with the Travelers Group four years
ago.
Reported by Camilla Klein
Under rules set by the Securities and Exchange Commission, the resolution must automatically be included in this year’s annual shareholder meeting, since it garnered 5.1% of the shareholder vote last year.
Over 60% of America’s top 100 corporations match charitable gifts made by retired employees and allow all current employees to participate. However, at Citigroup, only current employees earning less than $100,000, including medical benefits, are eligible.
For 29 years prior to the 1998 merger, Citibank helped both former and current employees and retirees support education, healthcare and arts organizations through the program.
The vote will take place at the group’s meeting next week.