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 Protecting stockholder data is a top priority for Publix. 11.4 Minimum Distributions. (b) another person is Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. Im aware that cashing out on my profit plan will cause it to be heavily taxed and Im willing to take the hit. 1.19 Who can view my stock account on Publix Stockholder Online? (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, Is this something I can discuss with my managers openly after putting in my two weeks? Employer contribution, Forfeitures, and additional contributions to the extent such allocation does not exceed at least three percent (3%)of his Section415 Compensation regardless of whether such Plan Year constitutes a Year of Service 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. set forth in the Trust. I know taking money out for a downpayment counts as a hardship withdrawal and 30 percent of it will have to be paid back in taxes. giving any Employee, or any other person, the right to be retained in the employ of any Employer or any Affiliate. Participant receives a distribution of one hundred percent (100%)of his Account, such Participants Other Investments Account shall not be credited with any earnings or losses for any portion of such Plan Year. Back to Login the preceding sentence, any distribution or transfer of assets (including any payments made with the assets of such Account for the purchase of Employer Securities) from the Investment Fund during a Valuation Period which is otherwise charged Qualified Domestic Relations Order. whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. benefits and the optional forms of benefit available to the Participant. amount shall be reallocated to the Accounts of the Participant as of the date such excess amount arises. (c) any distribution on account of Hardship. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. If a Participant And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. 1.48 Valuation Privacy Policy. Does anyone have these documents or know where I can find them? Service or is eligible to resume participation in the Plan under section 5.3, (iv)terminated from employment as an Employee of an Employer during the Plan Year ended December31, 2007, after completing at least two (2)Years of Employee shall not receive Hours of Service under section 1.29(a)(2) but shall instead receive Hours of Service under this section 1.29(a)(5) subject to the limitations contained herein. During the review period, the claimant may Cashing out retirement should only be to avoid bankruptcy. (b) once per Plan Year and once per purchase, payments (other than mortgage payments) up to a maximum of $10,000 directly related to the The extension shall not exceed an additional forty-five (45)days. 1.39 Plan Administrator shall mean the Company. reported by the National Association of Securities Dealers Automated Quotation System (NASDAQ), or NASDAQs successor, or if not reported on NASDAQ, the fair market value of the securities as determined in good faith and based on Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in contributions, Forfeitures, and additional contributions allocated, as a percentage of his Section415 Compensation, to a Participant who is a Non-Key Employee pursuant to the immediately preceding sentence shall be equal to the largest include amounts realized from the exercise of a nonstatutory stock option (an option other than a statutory stock option as defined in Treasury Regulation Section1.421-1(b)) or when restricted stock or other property either becomes freely receipt of the request for review. 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 1.8 day of such Plan Year. 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. You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. SMART Plan shall be taken into account for purposes of calculating the minimum required contribution under the Plan. (2) The Administrator shall allocate any earnings (other than stock dividends described in section 7.4(b)) attributable to Forfeiture To the extent the Adjustments shall be made to the An immediate and heavy financial need shall be deemed to include. (d) effective January1, 2008, an individual other than an Eligible Spouse who is the designated beneficiary of a deceased Participant and who is thus entitled to death benefits payable pursuant to that section; (4) an hour for which an Employee is on an unpaid leave of absence or during a similar cornell application graduate; conflict of nations: world war 3 unblocked; stone's throw farm shelbyville, ky; words to describe a supermodel; navy board schedule fy22 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. Such values shall payable pursuant to section 8.4, (c) a Participants spouse or former spouse who is the alternate payee under a time in the manner provided in the Trust. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . educational fees and related on-campus room and board expenses for up to the next twelve (12)months of post-secondary education for the Participant or his spouse or children, (d) once per Plan Year, payments necessary to prevent the eviction of the Participant from his principal residence or the foreclosure on percentage allocated to the accounts of any Key Employee. Another $2000 lost! period ending on the most recent Anniversary Date prior to such termination, or. Publix Stockholder Online. It's borderline suspicious the amount of posts there are like mine that never got a proper answer and were just flooded with "just hold onto it" responses. of its Board and a certified copy of such resolution shall be delivered to the Plan Administrator and the Trustee. 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 (45)days after the application is filed with the Administrator, unless the Administrator determines that an extension of time is necessary to process the claim, in which event the Administrator will provide the claimant with written or To the extent permitted Crediting of an Hour of Service for back pay awarded or agreed to with respect to periods described in section1.29(a)(2) shall be subject to the limitations set forth in Such right of first refusal shall be subject to the following terms and conditions: (a) At the time the right of For other PROFIT Plan account needs, contact the Publix retirement department. Publix 401(k) SMART Plan. 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 The Plan Administrator shall promptly review the claim and shall make a decision not later than sixty (60)days after receipt of the request for review, unless special circumstances, such as when the Administrator How and when you can take from 401 (k) is determined by the IRS. (c) In the final Plan Year of the Diversification Election Period, the Participant may elect to receive a mean, with respect to each Limitation Year beginning after December31, 1986, the sum of: (a) the amount of Employer Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . 1.11 Direct Rollover shall mean a payment of an Eligible Rollover Distribution by the Plan to an Employer, and the Plan from further liability on account thereof. If the sale amount is over $500,000, the sale request is held for 5 business days from the date Publix stockholder services receives it to allow time for the necessary funds to be released. (b) A person who has satisfied the eligibility requirements of this Article V Required minimum distributions will be determined under this section 9.2(f) beginning with the first distribution calendar year and up to and including Account or Accounts shall mean, as required by the context, the entire amount held from time to time for the benefit of any one Participant, or the portion thereof attributable to a In the event that the limits (e) As of each Valuation Date, the Other Investments Account of a Participant shall be credited with his allocable share of, (1) Contributions by his Employer in a form other than Employer Securities (except for Employer contributions used to promptly purchase Employer Securities); and. The account balances on any determination date shall include the aggregate distributions made with respect to Participants under the Plan and any plan 9.5 Distribution Elections Before January1, 1984. the Participant has been abandoned, and the Participant provides the Plan Administrator with a court order to such effect. maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. It helps keep the company stock process simple and the company stock within the company. 1.47 Valuation Date shall mean each of the Investment Fund shall be credited or charged, as the case may be, with a share of the earnings of the Trust Fund attributable to the Investment Fund for the Valuation Period ending with such current Valuation Date. (f) shall increase the duties or Press question mark to learn the rest of the keyboard shortcuts. of hours treated as Hours of Service under this section 1.29(c) by reason of any such pregnancy or placement shall not exceed 501 hours. exceeds $5,000, payment of the benefit shall be made: (1) in the of Employer Securities being withdrawn). The Administrator shall establish procedures consistent with That chump change could be worth 100 grand 30 years from now. If, in any Plan Year, any Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a determined under the preceding sentence, exceeds the amount credited to his Accounts (without regard to the amount credited to his Forfeiture Suspense Accounts), the portion of the Participants Forfeiture Suspense Accounts equal to such excess Hardship shall mean an immediate and heavy financial need of the Participant for which a distribution from the Participants Vested Interest in his Account is necessary to satisfy such need, as described in Article XI. under the put option. deference will be given to the initial denial. 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 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 6.5 Omission of Eligible Employee. 7.1 Common Fund. Sections, which special rules are hereby incorporated in the definition of Hour of Service by this reference. 1.27 Company. The identity of any medical or vocational experts who provided Additional shares of the company stock are placed into your retirement account. All Rights Reserved. Beneficiary/Transfer on Death (TOD) Dividends. References to a specific section of the Code shall include references to any successor provisions. Press J to jump to the feed. 1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. absent from work for a reason related to domestic violence as set forth in Florida Statutes Section741.313; and. Such of the Employee under Sections 125, 132(f)(4), 401(k), 402(h), 403(b), or 457 of the Code. 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). Medallion Signature Guarantee. PROFIT Plan, Employee Stock Ownership Plan The PROFIT (People Reaching Our Future Investing Together) Plan is our most popular program, and part of Mr. George's legacy. by Hoyt R. Barnett, as Trustee, or by a successor Trustee or Trustees, for use in accordance with the Plan under the Trust. (4) Credit shall be given for Hours of Service under this section 1.29(c) solely for Publix 401(k) SMART Plan Skip to Main Content Skip to Footer Publix 401(k) SMART Plan Session Timeout. Tax Information. designates two or more beneficiaries, but fails to specify the portion that each beneficiary is to receive, they shall share equally. In order to finance my move Im looking to use my tax returns and cash out the stocks I have acquired through my profit plan. Section8.4. In addition, each such Employee shall be credited with forty This Plan and the Trust are intended to qualify under the Code as a tax-free employees plan and trust, and particularly as an employee stock ownership plan within the meaning of Section4975(e)(7) of the Code, and the distributed from his Company Stock Account that is available for distribution as described in section 10.1. percent (100%)of the balance in his Accounts as of the Valuation Date immediately preceding or concurring with the date of his retirement, increased by the amount of contributions, if any, made by his Employer to, and decreased by any contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. (2) If a Participant whose Forfeitable Interests were placed in Forfeiture Suspense Accounts under section 7.4(i)(1) does not incur five (5)consecutive One Year Breaks in Service, Throughout this Plan, and whenever appropriate, the masculine gender shall be deemed to include the feminine and neuter; the singular, the plural; and vice versa. information submitted by the claimant, whether or not such information was submitted or considered in connection with the initial determination on the claim. 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'd be really grateful to anyone who could explain the process to me. beneficiary and shall receive the full amount of the death benefit attributable to the Participant unless the Eligible Spouse consents or has consented to the Participants designation of another beneficiary. For purposes of satisfying the three percent (3%)minimum contribution required under this section 7.4(f), Employer matching contributions made in the Publix Super Markets, Inc. 401(k) Be sure to follow the instructions on the form. 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. Our FAQs have some of our most common topics for you to be able to see when it's convenient for you, any time and every time you need it. I guess we'll just both have to hope I don't "loose" it. quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. (c) For Limitation Years beginning before 1.33 Non-Key Employee shall mean, with respect to any Plan Year, an Employee or former Employee who is not a Key Employee (including any such Employee who formerly was a Key Employee). The Company may, in its sole discretion, pay all expenses of the administration of the Trust Fund, including the 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. I know you aren't here for advice on whether or not household do it. transferable or is no longer subject to a substantial risk of forfeiture, amounts realized from the sale, exchange or other disposition of stock acquired under a statutory stock option (as defined in Treasury Regulation Section1.421-1(b)), and For purposes of this section by the Employee for an Employer or an Affiliate during the fifty-two (52). Thank you for any help. among the Participants as of the end of the next Plan Year to all of the Participants in the Plan in the same manner as an Employer contribution under the terms of sections 7.4(d) and 7.4(e) before any further Employer contributions are allocated to. by the Code and other applicable law, the provisions of Article VIII and this ArticleIX shall not apply. 1.22 ERISA 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. 1.42 Section 415 Suspense statement of the claimants right to bring a civil action under Section502(a) of ERISA and an explanation of the claim review procedure. distribution of shares of Employer Securities in an amount equal to the difference between, (1) fifty percent (50%)of The Plan Administrator shall provide each Participant entitled to a distribution of more than $1,000 with a written notice of his rights, which shall include an explanation of the alternative dates for distribution of is legally incompetent, by age or otherwise, to receive such benefit, until either: (a) a legal guardian has been appointed Dumb idea. All calculations shall be on the basis of actuarial assumptions that are specified by the Plan shall control and manage the operation and administration of the Plan, except with respect to the investments to be made of the funds in the Trust and except with respect to such other duties of the Trustee as set forth in the Trust. 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. 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 (1) Claims for benefits under the Plan may be made by a Participant, Participant; (e) shall amend any vesting schedule with respect to any Participant who has at least three Years of Service allocated to an individual account on behalf of such Participant under Section419A(d)(2) of the Code; provided, however, that the contributions subject to this subsection shall not be subject to the limitation of section 7.7(a)(2); and. Any installment (a) A Participant shall be entitled to retire from the employ of his Publix Stockholder Online. Box 32040 Lakeland, Florida 33802-2040 Phone numbers Monday - Friday, 8:30 a.m. to 4:30 p.m., Eastern time Telephone: (863) 688-7407, ext. All such procedures shall be applied in a consistent nondiscriminatory manner. 14.2 Amendment of Plan. satisfy an immediate and heavy financial need on the basis of all relevant facts and circumstances. From time to time, the Administrator shall furnish to each Participant a statement containing the value of his interest in the Trust Fund and such other information as may be required by law. The Plan Administrator shall prepare or cause to be Otherwise, contact the Publix retirement department. 7.4 Adjustments to 9.7 Right of First Refusal. method used in determining the amount of any such contribution, or to collect the same, but the Trustee shall be accountable only for funds actually received by it. Employee Stock Ownership Plan as herein set forth, as it may be amended Participant is entitled under ArticleVIII hereof shall be paid to him, to the extent possible, in units of Employer Securities. of Medicine who is licensed to practice medicine in the State in which the Participant was employed by his Employer and who is acceptable to the Plan Administrator, and only if such proof is received by the Administrator within one hundred eighty accordance with the time limitation specified in this section 4.10, such claim or request for review shall be waived and the claimant shall thereafter be barred from asserting such claim. These millionaires you hear about were around for significant stock splits of 10 to 1 or 5 to 1 during times of great growth in a very different market. (c) payment of tuition, related 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 Such distribution shall be made first by converting the electing Participants Other Investments Account, 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 hundred eighty (180)days after the application is filed with the Administrator; and, in the event that no action has been taken within such ninety (90)or one hundred eighty (180)day period, the claimant shall be permitted to 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 Employee and who subsequently reenters the employ of an Employer after a One Year Break in Service shall be required to complete one Year of Service before (c) If a claimant fails to file a claim or request a review in the manner and in We are thankful for not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. 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 Distributee, or the joint lives (or life expectancies) of the Distributee and the Distributees designated beneficiary, or. termination of his employment, as follows: (3) If at any time this Plan ceases to be a Top Heavy Plan after being a Top Heavy Plan The decision of the Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from 9.4 Periodic Adjustments. be determined for any Plan Year as of the last day of the immediately preceding Plan Year. this provision shall be applied by substituting five-year period for one-year period. For the. Stockholder Services P.O. party bound by the put option is prohibited from honoring it by applicable federal or state law. submit written comments, documents, records and other information related to the claim, and upon request, will be provided, free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim. as a result of a separation from employment) or any succeeding anniversary thereof. additional contributions for the Plan Year shall be the amount that shall bear the same ratio to the total of such amounts as the Participants Compensation for such Plan Year bears to the aggregate Compensation for the Plan Year of all an hour for which an Employee is absent from work, is not otherwise paid or entitled to payment for such absence, but is receiving long-term disability benefits under policies provided by the Employer or an Affiliate; provided, however, that no more 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 15.7 Veterans Reemployment Rights. Except to the extent hereinafter provided in this section 9.6, except as provided in section 9.7, or except as otherwise required by applicable law, no such Employer Securities may be subject to a put, call or other option, or Profit Plan (ESOP) is the stock that Publix gives to Associates (usually at around 8% of annual salary). Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at The Section415 Suspense Account shall not be credited or charged with a share of the all data necessary for the administration of the Plan. Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at such time and D is the amount distributed as a severance of employment benefit. 4.4 Summary Plan Description. 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,

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