Employees may . 7.2 Establishment of Accounts. Affiliate in accordance with the then current employment law shall be credited with Hours of Service pro-rata based on forty-five (45)hours for a full payroll period (one week), non-exempt, hourly-paid full-time Employees shall be credited 1.17 Eligible Rollover Distribution shall mean any distribution of all or any fiduciary or any other person; and. Employee shall mean any person employed by an Employer or an Affiliate; provided, however, that the term Employee shall not include: (a) a person who serves only as a director of an Employer; (b) a member of a collective bargaining unit if retirement benefits were a subject of good faith bargaining between such unit and an Except to the extent otherwise required by law, the decision of the (Our apologies!) Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section qualified domestic relations order, as defined in Section414(p) of the Code, entitled to benefits payable as provided by section 15.2(b), and. 9.4 Periodic Adjustments. Will I still have access to the stockholders site after Ive left Publix? electronic notice of any extension, including the reasons for the extension and the date by which a decision by the Plan Administrator is expected to be made. This is where Publix provides eligible associates with shares of stock at no cost to them. make the distribution to a natural guardian where applicable (e.g., Florida Statute Section744.301). quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. 11.1 Hardship Withdrawals In General. Now, you didn't ask - but I will give my opinion. (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and as a result of a separation from employment) or any succeeding anniversary thereof. This whole process is super time sensitive and if I dont get the documents to them by 3/3/23 I wont have the money in time for closing. Then suddendly in 2 years I had lost $9000, current stock price $36! The profit sharing plan is funded with year end bonuses. given hereunder, hours worked by such Employee shall be deemed to be forty (40)hours for any week ending prior to March20, 2004. Service for each twelve (12)continuous months of service commencing with his most recent employment commencement date prior to October1, 1975, and ending October1, 1975. The Other Investments Account of a Participant shall be debited for any payments made with the assets of such Account for the purchase, directly or indirectly, of Employer Securities, and such Account shall be (c) (1) Notwithstanding the other provisions of this Hour of Service definition, in the case of an Employee who is absent from of (a)the date payment of the Participants benefit commences or (b)the date of the Participants death. no Hardship withdrawals will be made during the period during which the Trustee is awaiting a new valuation of Employer Securities from independent appraisers (generally, but not limited to, the months of January, February, April, July and October). Single log-in. 15.6 Gender. Then log in to Publix Stockholder Online > Account Tools > Uncashed Checks and click Request Replacement and follow the instructions on the form. Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. Account shall be charged with the amount of any distribution made to the Participant or his beneficiary from such Accounts pursuant to ArticleIX during the Valuation Period ending with such Valuation Date. If you create a Publix Stockholder Online account or elect to be communicated with by email, you should consider the following, among other things: For some account changes, yes. credited for any cash dividends paid on Employer Securities in the Participants Company Stock Account to the extent that such cash dividends are not distributed to Participants pursuant to sections 7.5 or 9.2. qualified under Section401(a) of the Code with which this Plan is required to be aggregated to meet the requirements of Section401(a)(4) or 410 of the Code (including terminated plans that would have been required to be aggregated with tax withholding at the source) paid to a Participant from an Employer or Affiliate plus all other payments of compensation to the Participant from an Employer or Affiliate (in the course of the trade or business of the Employer or Affiliate) for (b) he has not performed any service for an Employer during the one-year period ending on the determination date. (b) A person who has satisfied the eligibility requirements of this Article V Account shall mean an account established pursuant to section 7.2 with respect to Employer contributions invested in Employer Securities and adjustments thereto. the quotient obtained by dividing the amount of the Participants Account balance by the distribution period in the Uniform Lifetime Table set forth in Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants age as Participants retirement, disability, severance of employment or death, as the case may be. We are thankful for the employ of his Employer, no retirement benefits shall be payable to him, and he shall continue to be treated in all respects as a Participant. Once stockholder services receives your properly completed Stock Sale Request Form and stock certificate(s), sales checks are typically processed and mailed to the address on file for the stock account within 3 business days. (b) Notwithstanding the provisions of section 1.29(a), each Employee who was employed by the Company, Publix Food Stores, Inc., or Publix Market, Inc. on October1, 1975, shall be credited with one thousand (1,000)Hours of Im very eager for my move as its a location Ive always dreamed of moving to, but Im very nervous about leaving Publix. (1) Employer Securities attributable to contributions by his Employer; (2) Forfeitures of In the event it becomes impossible for the Company, another Employer, the Plan Administrator, or the Trustee to perform any act required by this Plan, then the Company, such September30, 1990, the Administrator shall allocate such amounts to each eligible Participant on the basis of such Participants Compensation attributable to the 1989 calendar year, if such Compensation exceeds the Compensation Employees Anniversary Date in which an Employee has 500 or fewer Hours of Service, and it shall be deemed to occur on the last day of any such year. Administrator and applied on a uniform basis to all plans in the applicable aggregation group. If you need the cash now for an absolute emergency and have no other options I would do it. 10.1 Diversification Distributions. discontinuance of contributions without such formal documentation, full vesting of the interests of the affected Participants in the amounts credited to their respective Accounts will occur on the last day of the Plan Year in which a substantial 7.4 Adjustments to Cookie Notice Section408(a) of the Code or an individual retirement annuity described in Section408(b) of the Code. The Publix Super Markets, Inc. You are going to blow through this money so fast. References to a specific section of the Code shall include references to any successor provisions. distributed from his Company Stock Account that is available for distribution as described in section 10.1. The required minimum distribution for the Participants first distribution calendar year will be made on or before Plan, originally adopted as of October1, 1974, as a stock bonus plan with employee stock ownership plan features, is hereby amended and restated this 22nd day of January, 2008, but is effective for all purposes as of January1, The determination of who is a Key Employee will be The Administrator may appoint such accountants, counsel Below are PDF forms to help you with managing a Publix stock or PROFIT Plan account. stock account number . a levy of the Internal Revenue Service. provided in section 9.4, his beneficiary shall be entitled to a death benefit in an amount equal to one hundred percent (100%)of the balance in his Accounts as of the Valuation Date immediately preceding or concurring with the date of his If the initial denial was based in whole or in part on medical judgment, the named fiduciary reviewing the denied claim shall consult with a health care professional who has appropriate training and (or parent-in-law), grandparent (or grandparent-in-law), or any other family member who resides in the Participants household preceding such persons death. 11.2 Immediate and Heavy have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. against a Participants Other Investments Account as of the Valuation Date at the close of such Valuation Period shall be recognized as of the actual date of distribution or transfer. distribution calendar year if distributed or transferred in the valuation calendar year. satisfy an immediate and heavy financial need on the basis of all relevant facts and circumstances. terminated, that is equal to or greater than the benefit the Participant would have received immediately before the merger, consolidation or transfer if this Plan and the Trust had then terminated. Thanks Publix for the awesome subs, soup, and blue collar work experience. Payment of Benefits, Put Option and Right of First Refusal. An eligible Participants diversification election shall be made in writing on such forms as may be approved by the Plan Administrator, with the Participant designating the percentage or number of shares to be Yes, youll receive an account statement when you sell stock. You'll be prompted to create your Publix Stockholder Online account with a user ID and password and choose your preferred security verification method text or voice call to log in to your Publix Stockholder Online account. The Plan Administrator shall prepare or cause to be Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants and spouses attained ages as of the Participants and spouses birthdays in the distribution calendar year. I decided to quit Publix and roll EVERYTHING over. A portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists of after-tax Employee contributions that are not such restoration to be made from Forfeitures and, if necessary, by contributions of his Employer. to the Publix Super Markets, Inc. 401(k) SMART Plan) would cause the limitations set forth in this section 7.7 to be exceeded, the excess amount shall be held unallocated in the Section415 Suspense Account for the Plan Year and reallocated (1) Claims for benefits under the Plan may be made by a Participant, first refusal may be exercised, the Employer Securities subject thereto must not then be listed on a national securities exchange registered under Section6 of the Securities Exchange Act of 1934 (the 1934 Act) or must not then be (g) For purposes of section 9.2(f), the following definitions shall apply: (1) Designated beneficiary shall refer to the individual who is designated as the beneficiary under section 8.4 and is the In the event that a Participant does not consent to a distribution of a benefit in excess of $1,000 to which he is entitled under section 8.1, 8.2, or 8.3, the with, and the assets or liabilities of this Plan and the Trust may not be transferred to, any other plan or trust unless each Participant would receive a benefit immediately after the merger, consolidation or transfer, if the plan and trust then The Publix Super Markets, Inc. Key Takeaways. accounting shall be used, and the Trust Fund, each separate portion of the Trust Fund and the assets thereof shall be valued at their fair market value as of each Valuation Date. Employee Stock party bound by the put option is prohibited from honoring it by applicable federal or state law. beneficiary or all such beneficiaries shall predecease the Participant, then the Participants surviving Eligible Spouse, and if none, then the estate of such Participant shall be deemed to be the beneficiary designated to receive such death by Hoyt R. Barnett, as Trustee, or by a successor Trustee or Trustees, for use in accordance with the Plan under the Trust. 1.32 Limitation Year shall mean the 12-month period ending on each December31. suspense accounts. 3.4 Qualified Notwithstanding the provisions of section 3.1, any contribution made by an Employer to this Plan by a mistake of fact may be returned to the Employer within one year after the (b) For purposes of ArticleV and section 7.4, a Year of Service is not completed until the end of each consecutive 12-month period without regard to when during the period that 1,000 Hours of Service are Im aware that cashing out on my profit plan will cause it to be heavily taxed and Im willing to take the hit. In the (a) Except as otherwise required in the Trust, for purposes of all computations required by this ArticleVII, the accrual method of (d) For all purposes of this Plan, an Employees Years of Service shall include the following: (1) for persons employed in stores acquired by the Company from Kroger Company on or after November7, 1988, and before 1.23 Fair Market Value shall mean, for purposes of the valuation of Employer Securities, the closing price (or, if there is no Plan. So I am looking into buying a house and was thinking I could use some of my profit plan to pay for the closing/ down payment costs. Investments Accounts in accordance with the terms of section 9.2 and the Trust. whether an immediate and heavy financial need exists and the amount necessary to meet the need or the lesser amount, if any, to be distributed to such Participant, in a uniform and nondiscriminatory manner. 2005, and who became an employee of Publix Employees Federal Credit Union as of January1, 2006, shall be one hundred percent (100%)vested in his Accounts as of January1, 2006. Notwithstanding the foregoing, in the Plan Year in which a (b) Unless the Participant Any Section8.4. The Plan Administrator shall not accept any Participant contributions. Investments Account (excluding Forfeiture Suspense Accounts) as of the preceding Valuation Date. 1.8 Also you won't loose around 40% of it. 7.7 Limitation on Allocation of Contributions. a pro-rata basis (based upon the percentages designated by the Participant). EMPLOYEE STOCK OWNERSHIP PLAN.. Participant unless the value of the Employer Securities allocated to the Participants Company Stock Account, exceeds $500 as of the Valuation Date immediately preceding the first day on which the Participant may elect a diversification distributed to or for the benefit of a Participant, are not then listed on a national securities exchange registered under Section6 of the Securities Exchange Act of 1934 (the 1934 Act) or are not then quoted on a system sponsored Now that my stock account information is online, how is Publix protecting my information? 1.9 Company Stock 4.5 I know about the penalties incurred by cashing out early. In the event of a permanent total and permanent disability and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a disability benefit in an amount equal to one hundred percent (100%)of the balance in his Accounts as of the Valuation An Eligible Spouses consent shall be a percentage allocated to the accounts of any Key Employee. A Participant whose Forfeitable Interests are placed in a Forfeiture Suspense Account is not entitled to earnings on such Forfeitable Interests and is not entitled to any cash dividends on any Employer Securities held in the Forfeiture Suspense In the event of any conflict between the terms of this Plan and Trust as set forth in this Plan and in the Trust and as set forth in any explanatory booklet or other description, this Plan and the Trust shall control. The put option shall provide that, for a period of fifteen (15)months after such shares are distributed, the Participant, the Participants 1.43 Top Heavy Plan shall mean this Plan if the aggregate account balances (not including voluntary rollover contributions made by any Participant from an unrelated plan) of the Key Employees assets of the Trust Fund, shall be charged solely against, and paid solely from, the Investment Fund. Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in Publix 401(k) SMART Plan. Dumb idea. balance or contribution that is not the Participants Vested Interest. the loss sustained by the portion of the Trust Fund attributable to the Investment Fund during such period (whether from investments or from the sale or exchange of assets). Administrator and the Trust; (c) shall reduce any Vested Interest of a Participant on the later of the date the amendment on account of a period during which no duties are performed shall not be credited under this section 1.29(a)(2) to the Employee if such payment is made or due under a plan maintained solely for the purpose of complying with applicable workers The Company may, in its sole discretion, pay all expenses of the administration of the Trust Fund, including the ownership plan is hereby amended and restated in accordance with the terms hereof and shall continue to be known as the PUBLIX SUPER MARKETS, INC. Any such election by a Participant shall be in writing and filed with the Account has been invested in such Fund) shall have an undivided interest. than such Employer that is a member of an affiliated service group, within the meaning of Section414(m) of the Code, of which such Employer is a member; any other organization that is required to be aggregated with such Employer under 1.6 Board of Directors and Board shall mean the board of directors of the Selling Stock. You also can elect to receive account statements electronically by managing your online delivery preferences on Publix Stockholder Online. Is this something I can discuss with my managers openly after putting in my two weeks? of Employer Securities, the recipient of such distribution shall be deemed to have exercised the put option with respect to such fractional share at its Fair Market Value on the date the Participant is entitled to such distribution. (c) No Compensation in excess of $200,000 (as adjusted from time to time under applicable law) shall be taken into account for any no distribution shall be made of the benefit to which a Participant is entitled under section 8.1, 8.2, or 8.3 prior to the Participants 62nd birthday unless the value of his benefit does not exceed $1,000 or unless the Participant Employer Securities from such Account for the purchase, directly or indirectly, of assets other than Employer Securities. scientific or clinical judgment used for the determination or a statement that such explanation will be provided free of charge upon request, and the following statement: You and your plan may have other voluntary alternative dispute provided for by the Plan are to be paid or are to be funded. under Section401(a)(9) of the Code; and. For purposes of determining each Participants share of the Employer contribution, Forfeitures and additional contributions for the Plan Year ending earnings for each Valuation Period during which it is in existence. (2) the judgment, order, decree, or settlement agreement expressly provides for the Such notice shall also inform the holder of the terms of such put option (which terms shall be consistent with the provisions of this section 9.6). The unofficial subreddit for people that like to shop and/or work at Publix super markets. without limitation, brokerage fees, closing costs, liabilities arising from the ownership or management of specific properties, and income and other taxes) incurred in connection with the investments of the Investment Fund, which are paid from the I'm simply unaware of how to actually cash out since the stockholder website only has a record of my most recent dividend statement, and I can no longer access Passport for further information. Plan or may terminate this Plan and the. for such Participant. The Participant may elect to exercise such rights, no less than thirty (30)days and no more than one hundred eighty (180)days before the first date upon which Not in limitation, but in amplification of the foregoing, the Administrator shall have the power and discretion to interpret or construe this Plan and to determine all questions that benefit requirements and all other applicable provisions of Section401(a)(9)(G) of the Code, the regulations issued thereunder (including Regulation Section1.401(a)(9)-5(d)), and such other rules thereunder as may be prescribed by the Thank you for any help. WHEREAS, the Company has previously adopted the Publix Super Markets, Inc. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. Profit-Sharing Plan Withdrawals - Investopedia section 15.2(a), the Plan Administrator shall direct the Trustee to make payments pursuant to a Qualified Domestic Relations Order as defined in Section414(p) of the Code. aggregated with the Plan under Section416(g)(2) of the Code during the one-year period ending on such determination date; provided, that in the case of a distribution made for a reason other than separation from service, death, or disability, (b) Employer Securities shall be accounted for as provided in Treasury Regulation Section1.402(a)-1(b)(2)(ii), as amended, or any statement of the claimants right to bring a civil action under Section502(a) of ERISA and an explanation of the claim review procedure. 1.30 Investment Fund shall mean an investment fund established under section 12.2 and Plan Year in which this Plan is a Top Heavy Plan, a Participant who is employed by an Employer on the last day of such Plan Year, who is a Non-Key Employee, who earns Compensation from an Employer for such Plan Year shall be entitled to share in the Accounts as of the Valuation Date immediately preceding or concurring with the date of the termination of his employment, increased by his Vested Interest in the amount of contributions, if any, made by his Employer to, and decreased by any Employer Securities, in writing, on or before the tenth (10th)day after the date such Employer Securities cease to be so traded, that for the remainder of the fifteen (15)month period, such Employer Securities are subject to a Plan. Privacy Policy. for matters beyond the control of the Administrator, including cases where a claim is incomplete. within thirty (30)days and ending not more than five (5)years (which may be extended to a date no later than the earlier of ten (10)years after the date of exercise) after the date the put option is exercised. offset of all or part of the amount ordered or required to be paid to the Plan against the Participants benefits provided under the Plan. Participant; (e) shall amend any vesting schedule with respect to any Participant who has at least three Years of Service hereunder, to change any provision relating to the administration of this Plan and to change any provision relating to the distribution or payment, or both, of any of the assets of the Trust. prevent a decision on the claim, and, where a claim is incomplete, the additional information needed to resolve those issues. The identity of any medical or vocational experts who provided the event of an adverse determination of the denied claim on review, the claimant shall be given a written or electronic notice of that determination, which shall include the specific reasons for the denial of the claim, references to the specific Retirement Date. date when the Participant either had not incurred a One Year Break in Service or was eligible to resume participation in the Plan under section 5.3, the Vested Interest in the Accounts of the Participant shall be a percentage of the balance of such Amendment and Restatement and Name of the Plan, The Companys employee stock controlled group of corporations, within the meaning of Section414(b) of the Code, of which such Employer is a member; all other trades or businesses. The Trustee may maintain an Investment Fund, which shall which the Employer or Affiliate is required to furnish the Participant a written statement under Sections 6041(d), 6051(a)(3) and 6052 of the Code (and without regard to any provisions under Section3401(a) of the Code that limit the (2) in any other case, approximately five years from the date of the Participants care that are not elective cosmetic in nature incurred by the Participant or his spouse or children or necessary for such persons to obtain such uninsured medical care. All calculations shall be on the basis of actuarial assumptions that are specified by the Plan The Publix 401k is administered by an outside investment company, Voya. Then log in to Publix Stockholder Online > Account Tools > Beneficiary Change and follow the on-screen process to complete and print the required form. immediately before the acquisition; (3) for persons employed by Wolfson Pharmacy acquired by the Company on July31, requirement hereunder shall be treated as matching contributions for purposes of the actual contribution percentage test under the Publix Super Markets, Inc. 401(k) SMART Plan. (v)terminated from employment as an Employee of an Employer during the Plan Year ended December31, 2007, after completing at least three (3)Years of Service and more than 500 Hours of Service in such Plan Year and terminated on a (b) In the event that In the event that a Participant has designated two or more beneficiaries, and one or more (but less than all) of The Administrator 1.21 Employer Securities shall mean common stock, any other type of stock or any marketable obligation expiration of two (2)years after it shall become payable, remain unpaid solely by reason of the inability of the Administrator to ascertain the such time as there is a fifth (5th)consecutive One Year Break in Service resulting in Forfeitures as described in section 7.4(i)(1) or until the reallocation of Forfeiture Suspense Accounts to a Participants Accounts as