Citi Reduces Its 401(k) Contributions for Highest Earners (1)

Citigroup Inc. is shrinking how much it pays into the retirement funds of its highest-earning employees in the US.

The New York-based bank, which provides an annual match to employees’ 401(k) contributions, will limit its match to $12,000 for those earning at least $200,000 in total compensation starting with its yearly payment in March 2026, according to people familiar with the matter.

That’s down from a match of as much as $21,000 this year, said one of the people, who asked not to be identified discussing information that isn’t public.

Citigroup executives are under intense pressure from investors to reduce ...