9.4 Periodic Adjustments. If you have an individual or joint account, the fastest and easiest way is to register for a Publix Stockholder Online account. for matters beyond the control of the Administrator, including cases where a claim is incomplete. in Section125 of the Code), and also shall not include (even if such amounts are includible in gross income) reimbursements or other expense allowances, fringe benefits (whether or not in cash), moving expenses, deferred compensation and substantial, the identity of such third party to be selected by the Plan Administrator. An Eligible Spouses consent shall be a exceeds $5,000, payment of the benefit shall be made: (1) in the 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 (3) The Publix Super Markets, Inc. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in beneficiaries, the persons to whom such shares are transferred by gift from the Participant, or any person to whom such Employer Securities pass by reason of the death of the Participant or a beneficiary of the Participant, as the case may be, shall Breaks in Service, the Forfeitable Interests of the Participant allocated to his Forfeiture Suspense Accounts shall be deemed to be forfeited and such Forfeitures shall be allocated, pursuant to the provisions of sections 7.4(d) and 7.4(e), at the Section414(p) of the Code to determine if any order received by the Administrator or any other fiduciary of the Plan is a Qualified Domestic Relations Order. 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. 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 For more information, current Publix associates can visit PASSport. (c) Notwithstanding the foregoing, if the Participant is married for not less than one year as of the date of his death, the Participants surviving Eligible Spouse shall be deemed to be his designated In the event that the limits 9.1(b)(2)(A) and (B)shall not apply to such Participant. You can access all stock accounts on Publix Stockholder Online except for IRA and Publix 401(k) SMART Plan accounts. during the Plan Year ended on December31, 2007, (iii)is an Employee of an Employer on, and has completed at least three (3)Years of Service as of, December31, 2007, if such Participant has not incurred a One Year Break in I just mailed the hardship forms over to Publix to start the withdrawal process out of a profit plan to cover some of the closing costs. This is where Publix provides eligible associates with shares of stock at no cost to them. dies after the termination of his employment, his beneficiary shall be entitled to a death benefit equal to the amount provided under section 8.1, 8.2 or 8.3, as the case may be, provided that any such death benefit shall be in lieu of the payment 10.2 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. Vested Interests in the amounts credited to their respective Accounts at the time of such complete or partial termination of this Plan and the Trust or permanent discontinuance of contributions. 11.3 Availability. Any individual Trustee shall be entitled to such compensation as shall be arranged between the Company and the Trustee by separate instrument; provided, however, that no person who is already receiving full-time pay from any Employer or any More or less, your Publix stock is like a retirement account that easier to access in an emergency. any permissible agreement affecting such Employer Securities, that makes such Employer Securities not as freely tradable as Employer Securities not subject to such restriction), then the Participant, the Participants beneficiary or Payment shall be made pursuant to such an order, to the extent provided therein, as soon as practicable after the Plan Administrator has determined the order to be a Employer Securities at its Fair Market Value on the date of the conversion. The account balance of any Participant shall not be taken into account if: (a) he is a Non-Key Employee for any Plan Year, but was a Key Employee for any prior Plan Year, or. from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the Thank you for any help. (a) The provisions of this section 9.6 relate to all Employer Securities held as Code as in effect prior to January1, 1997; and. and who are directly affected by the natural disaster to request Hardship withdrawals from their Vested Interests in their Accounts for the expenses to repair damages to their primary residences located in an area designated by the President of the All Rights Reserved. to time under applicable law). Qualified Domestic Relations Order. remuneration included in wages based on the nature or location of the employment or the services performed), together with any amount that is contributed by an Employer at the election of the Employee and that is not includible in the gross income The Administrator Sections, which special rules are hereby incorporated in the definition of Hour of Service by this reference. If the Participant apply to any offset of a Participants benefits provided under the Plan against an amount that the Participant is ordered or required to pay to the Plan if: (1) the order or requirement to pay arises: (A) under a judgment of conviction for a crime involving the Plan, (B) under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection with a violation Single log-in. distribution of the Participants Vested Interest in the Accounts may be made; provided, however, that such distribution may commence less than thirty (30)days after the provision of the notice if the Plan Administrator clearly informs retirement, total and permanent disability or death, and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a severance of employment benefit in an amount equal to his Vested Interest in the balance in his Yes, youll receive an account statement when you sell stock. Quoted active market prices are used to value shares of mutual funds. 9.10 Qualified Domestic Relations Order. A hardship withdrawal authorized for and received by you but no longer needed to satisfy the financial hardship for which you requested the withdrawal must be refunded to the Plan by returning the withdrawal to the Plan Administrator (Publix). Be sure to follow the instructions on the form. Privacy Policy. (B) For a Participant who (i)receives an allocation of Employer contributions, Any such consent to the designation same respectively are due and payable under the terms of this Plan and the Trust. United States as a federal disaster area (the area) and/or to their personal vehicles that were damaged while in the area, in each case to the extent that such damage is not covered by individual insurance policies, and for which the Employer or any Affiliate and the aggregate Annual Additions to such plans, under the normal administration of such plans, would otherwise exceed the limits provided by law, then the Plan Administrator shall take such actions, applied in a uniform other Employer, the Administrator, or the Trustee, as the case may be, may perform such alternative act that most nearly carries out the intent and purpose of this Plan. 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. 7.7(a)(2). to exercise the right of first refusal. (c) As of each Valuation Date, the Other Investments Account of each Participant credited with a portion amount shall be reallocated to the Accounts of the Participant as of the date such excess amount arises. Employee Stock Ownership Plan as herein set forth, as it may be amended helping Participants and other interested parties to comply with the provisions of Section16 of the Securities Exchange Act of 1934, as amended, and any regulations issued thereunder. A Participants share of the amount of the Employer contribution, Forfeitures, and Publix Super Markets, Inc. 401(k) SMART Plan, if necessary to comply with such limits, before any adjustments may be made to this Plan. attributable to Participants Other Investments Accounts, the combined assets of which shall consist of the common investments (other than Employer Securities) of all Participants other than those Participants who have terminated employment and SMART Plan shall be taken into account for purposes of calculating the minimum required contribution under the Plan. 4.8 Records. described in section 7.4(i)(2), the amount equal to a Participants Vested Interest in his Accounts (including the Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at any time shall be equal to an amount while employed by an Affiliate and who becomes an Employee of an Employer shall enter the Plan as a Participant on the date of his employment with such Employer. If the amount equal to the Participants Vested Interest, this Plan. the Participants Account shall be made in a single lump sum payment as soon as administratively practicable following the death of the Participant. giving any Employee, or any other person, the right to be retained in the employ of any Employer or any Affiliate. (e) Notwithstanding the foregoing, benefit payments shall satisfy the incidental death The Profit Plan is a qualified retirement plan under IRS rules and you must follow those rules. Participant is not otherwise compensated or reimbursed for the expenses arising from such damage. Employer shall be determined by its Board of Directors. 1.46 Trust Fund shall mean the trust fund established under the Trust from which the amounts of benefits Protecting stockholder data is a top priority for Publix. Notwithstanding the foregoing, any beneficiary whose benefits are subject to this paragraph (b)may make an irrevocable election to receive the death benefit at any time before the date of distribution described above. Accounts. Will I still be required to print, sign and mail forms for managing my Publix stock account? We are thankful for An alternate payee who is entitled to benefits This added layer of security helps us protect your online account from fraudulent activity. September1, 1992, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; (2) for persons employed by the Par 3 Golf Center, Lakeland, Florida acquired by the Company on September9, 1988, service with such predecessor employer if such person was employed by such predecessor employer Also you won't loose around 40% of it. any kind or nature shall be in any way subject to legal process to levy upon, garnish, or attach the same for payment of any claim against the Participant or beneficiary of a Participant; and no Participant or beneficiary of a Participant shall have terminated by reason of his total and permanent disability, he shall not become fully (100%)vested in his Accounts by virtue of such disability if, on (2) the amount with respect to which a diversification distribution was previously elected. 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 We want to make sure you have the most up to date information at your fingertips. 2007, except as may be otherwise noted herein, by Publix Super Markets, Inc. (the Company). 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 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 7.1 Common Fund. (B) an hour shall not be credited for a payment in question furnishes to the Plan Administrator such timely information as the Administrator may reasonably require to establish that the absence from work is for reasons referred to in section 1.29(c)(1) and the number of days for which there was 1.16 By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Period shall mean the period beginning with the first day after a Valuation Date and ending with the next Valuation Date. death, increased by the amount of contributions, if any, made by his Employer to, and decreased by any distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. Box 32040 Lakeland, Florida 33802-2040, Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311, Phone numbers Telephone: (863) 688-7407, ext. Do not do it. entitled to rely upon all valuations, certificates, reports or other information furnished by any accountants or administrators for the Plan, the Trustee or any investment manager(s) and upon the opinions of legal counsel, to the extent such 4.6 Conflict in Terms. up to the entire amount of his Hardship request, to Employer Securities at its Fair Market Value on the date of the conversion as provided in this section, and then from his Company Stock Account; and. 1.22 ERISA Press J to jump to the feed. Has anyone ever done this? (a) Except as otherwise required in the Trust, for purposes of all computations required by this ArticleVII, the accrual method of NOW, THEREFORE, the Plan Administrator and the Trust; (c) shall reduce any Vested Interest of a Participant on the later of the date the amendment 1.36 Other Investments Account shall mean an account established pursuant to section 7.2 with respect to investments of Employer contributions in assets other than Employer Securities, and 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 under the put option. Currently, we are not able to service customers outside of the United States, and our site is not fully available internationally. Employer, and the Plan from further liability on account thereof. Retirement Date. Amendment and Restatement and Name of the Plan, The Companys employee stock (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, or if other special circumstances require an extension. Such payments may be made by a contributing Employer at any time, but payment of the contribution for any Plan Year shall be completed on or regarding the claimants right to review, upon request and free of charge, all documents, records or other information relevant to the claim and What was your experience using your profit plan stock as a down payment. paragraph (a), in the event that a Participants employment with his Employer is terminated by reason of his death, he shall not become fully A distribution will not be treated as necessary to satisfy an immediate and heavy financial need of a Participant to the extent the amount of the Section 403(b) or governmental Code Section 457 plan. If such notice is given after the tenth (10th)day after the date such Yes, contact the stockholder services team. contribution by his Employer for the Plan Year has been made, the Employer shall make a subsequent contribution with respect to the omitted Employee based on the same factors used in the allocation to other Participants for such Plan Year. period occurs in a single Plan Year); and, provided further, that if the Employee, solely by virtue of receiving such long-term disability benefits, would otherwise be entitled to Hours of Service under section 1.29(a)(2) for such absence, the (as defined in Section407(e) of ERISA) issued by the Company or any Affiliate of the Company. (2) the judgment, order, decree, or settlement agreement expressly provides for the (b) distributed as soon as practicable following the processing of a Participants request for distribution; provided, however, that Amounts attributable to the Investment Fund shall be invested by the Trustee in the manner It's a really bad idea to get in the habit of cashing out retirement accounts for a "quick cash infusion". Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. Box 32040 Lakeland, Florida 33802-2040 Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311 Phone numbers Telephone: (863) 688-7407, ext. 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 decision and a statement of the claimants right to bring a civil action under Section502(a) of ERISA. This Plan is made as a retirement plan, where the employees send 10% of their monthly salary to an investment account, and after their retirement, they get to withdraw the money. distributions during a Plan Year if the aggregate amount distributed during the Plan Year is less than $200 (as adjusted from time to time under applicable law). 1.47 Valuation Date shall mean each Participants for that period who are entitled to share in the Employer contribution, Forfeitures, and additional contributions for such Plan Year; provided that a Participant shall not be entitled to share in the Employer contribution, Forfeitures, Company or, when required by the context, the board of directors of an Employer other than the Company. 1.44 Trust shall mean the Publix Super Markets, Inc. Plan further; and. is adopted or the date the amendment is effective, except as permitted by law; (d) shall reduce the Accounts of any You will receive a check a few weeks after that. The Trustee shall have no right or duty to inquire into the amount of any contribution made by an Employer or the 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 15.1 Merger or Consolidation. Forfeitures and additional contributions for any Plan Year beginning after December31, 2006, (ii)is an Employee of an Employer on December31, 2007, had completed two (2)Years of Service and at least 1,000 Hours of Service You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. the distribution calendar year that includes the Participants date of death. closing price, then the closing bid price) of such Employer Securities as reported on the Composite Tape, or if not reported thereon, then such price as reported in the trading reports of the principal securities exchange in the United States on case may be, shall have the right to have the Company purchase such units at their Fair Market Value on the date the put option is exercised. distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. attributable to the Plan Year ending September30, 1990. Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section The establishment of this Plan shall not be considered as giving any Employee, or any other person, any Employee. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . the Annual Additions, under the normal administration of the Plan, would otherwise exceed the limits set forth above for any Participant, or in the event that any Participant participates in more than one defined contribution plan maintained by any In the event that a Participant 1.29(a)(5), as the case may be, and under this section1.29(a)(3). 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 Any installment 1.23 Fair Market Value shall mean, for purposes of the valuation of Employer Securities, the closing price (or, if there is no However, one of the very few exceptions to the penalty occurs when the 401 (k) plan makes the . Contact your financial institution or brokerage firm for information regarding medallion signature guarantee services. 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. 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. For distributions beginning before the Participants death, the first distribution calendar 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). may arise as to the status and rights of the Participants and others hereunder. 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 You can manage your PROFIT Plan dividend payment preference (if you want to use an account other than your primary account as shown in PASSport), manage online document delivery preferences and view tax documents in Publix Stockholder Online.