approved time off period where the Employee is not paid, or entitled to payment, by an Employer or Affiliate for such time, but only in the following situations and subject to the following limitations: (A) any time for which an Employee is on a Family Medical Leave Act of 1993 (FMLA) unpaid leave, which period shall not IN WITNESS WHEREOF, this Amendment and Restatement has been executed this 22nd 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. 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 It shall be the duty of the Administrator to direct the Trustee with regard to the distribution of the benefits purchase price therefor and the proposed terms of payment. 1.13 Diversification Election Period shall mean, for Plan Years beginning on or after (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as Date if during such consecutive 12-month period, the Employee completes 1,000 Hours of Service for an Employer or an Affiliate thereof. 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 6.6 Inclusion of Ineligible Employee. 15.6 Gender. 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. 11.2 Immediate and Heavy 5.3 Former Employees. Create an account to follow your favorite communities and start taking part in conversations. Additional shares of the company stock are placed into your retirement account. 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. The fastest and easiest way is to register for a Publix Stockholder Online account. (a) In the event a Participants employment with his Employer is terminated for reasons other than Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities You will receive a check a few weeks after that. 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 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 Regular contributions are then made by the Employer, the Participant, or both. 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. (2) If federal or state law will be violated by the Company honoring the put option amount shall be reallocated to the Accounts of the Participant as of the date such excess amount arises. receipt of the request for review. disability benefits under the Plan may be made by a Participant on forms supplied by the Plan Administrator. In the tax year 2021 for single taxpayers, these range from 10 percent for income up to $9,950 and to 37 percent for income over $523,600 . (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 Notwithstanding the preceding, (A) an hour for which an Employee is directly or indirectly paid, or entitled to payment, 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. 15.5 Alternative Actions. Sections, which special rules are hereby incorporated in the definition of Hour of Service by this reference. 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. 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 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, NOW, THEREFORE, the Plan 1.10 (a) Compensation shall mean, with respect to a Participant, the wages, salaries, fees for professional services, and other for such Participant. Thanks for actually answering the question rather than giving me the corporate line. Retirement Date. 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). 9.3 Form of Payment. Key Takeaways. Plan Year coincident with or immediately following the date such One Year Break in Service occurs. 4.11 Appointment of Advisors. If youre selling or transferring Publix stock, a medallion signature guarantee from a qualified financial institution must accompany the signature of all stockholders registered on the account, excluding a TOD beneficiary. Directors (or the Executive Committee as authorized by the Board) certified by the Secretary or Assistant Secretary of the Company or such other Employer. 1.30 Investment Fund shall mean an investment fund established under section 12.2 and The Trustee may maintain an Investment Fund, which shall 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. Amendment and Restatement and Name of the Plan, The Companys employee stock Whenever the Company or another Employer under the terms of this Plan is permitted or required to do or perform 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 Expenses of Administration of the Plan and the Trust Fund. Protecting stockholder data is a top priority for Publix. Any help and advice is greatly appreciated. Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. (d) A Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have all or any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to (b) For A Participant who ceases to be an Employee and who subsequently reenters the employ of an Employer prior to a One Year Break in Service shall be eligible again to participate on 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 I'd be really grateful to anyone who could explain the process to me. Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. The purchase price and other terms of the purchase shall not be less favorable to the seller than the greater of the Fair Market Value of the securities in question or the purchase price and other Below are PDF forms to help you with managing a Publix stock or PROFIT Plan account. 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. earnings for each Valuation Period during which it is in existence. Period shall mean the period beginning with the first day after a Valuation Date and ending with the next Valuation Date. Notwithstanding the preceding provisions of this section. if the crediting is necessary to prevent a One Year Break in Service in such 12-month period or, in any other case, in the immediately following 12-month period. Plan. Publix 401k Plan By law, a 401k is a retirement plan set up under section 401 (k) of the IRS rules. Amounts displayed are adjusted for the 5-for-1 stock split, effective April 14, 2022. The decision of the The Administrator 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 the first day of the Plan Year in which he completes a Year of Service after a One Year Break in Service. 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. The establishment of this Plan shall not be considered as Participant under Article V of the Plan and shall include any former employee of an Employer who became a Participant under the Plan and who still has a balance in an Account under the Plan. and their beneficiaries for such Plan Year exceed 60% of the aggregate account balances (not including voluntary rollover contributions made by any Participant from an unrelated plan) for all Participants and their beneficiaries. any right of any kind whatsoever with respect to the Trust, or any estate or interest therein, or with respect to any other property or right, other than the right to receive such distributions as are lawfully made out of the Trust, as and when the the Participant that the Participant has a right to a period of at least thirty (30)days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and on Annual Additions for any Participant would be exceeded before all of the amounts in the Section415 Suspense Account are allocated among the Participants, then such excess amounts shall be retained in the Section415 Suspense Account to Publix PROFIT hardship withdrawal for first time home purchase Hello, 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. Accounts. 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any The review of the claim denial shall take into account all comments, documents, records, and other 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 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. Publix is an equal opportunity employer committed to a diverse workforce. Reddit and its partners use cookies and similar technologies to provide you with a better experience. This Plan shall be administered, construed, and enforced according to the laws of the State of Florida, except to the extent such laws have been expressly preempted by federal law. or indirectly, any interest, ownership or control in any of the present or subsequent funds held subject to the terms of the Trust; (b) shall cause or permit any property held subject to the terms of the Trust to be diverted to purposes other than the exclusive benefit of the Participants and their beneficiaries or for the administrative expenses of the Plan 1.8 7.4(i)(1) as a result of his One Year Break in Service, then, if the Participant continues his employment, or resumes employment with an Employer or an Affiliate before the occurrence of five (5)consecutive One Year Breaks in Service, until 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 purchase must provide for adequate security, a reasonable interest rate and a payment schedule providing for cumulative payments at any time not less than the payments that would be made if made in substantially equal annual installments beginning An alternate payee who is entitled to benefits 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 In order to protect your personal information, we automatically log you out of your account after a certain period of inactivity. 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 being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. Contact your financial institution or brokerage firm for information regarding medallion signature guarantee services. (5) Do not do it. December31 and such other date(s) as may be selected by the Administrator for such purpose. 9.10 Qualified Domestic Relations Order. is unable to determine Hours of Service for a non-exempt, hourly-paid, part-time Employee, such Employee shall be credited with Hours of Service pro-rata based on forty (40)hours for a full payroll period. For purposes of state or any agency or instrumentality of a state or political subdivision of a state that agrees to separately account for amounts transferred into such plan from this Plan, in each case provided that the account or plan accepts a Notwithstanding the foregoing provisions of this. 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. who at any time during the Plan Year that includes the determination date was an officer of an Employer or nonparticipating Affiliate having annual compensation greater than $130,000 (as adjusted from time to time under applicable law), a This is where Publix provides eligible associates with shares of stock at no cost to them. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . (a) Such a Participant may elect, within ninety (90)days after the close of the first Plan Year in the Diversification Election The initial forty-five (45)day period may be extended twice by thirty (30)days For purposes of Article V, an Employees Years of Service shall not include any Year of Service prior to a One Year Break in Service until the Employee completes a Year of Service after the One Year Break in Service. In the event of a permanent protocol, or similar criterion was relied upon in making the adverse determination and will be provided to the claimant free of charge upon request. adjustments thereto. respect to any Employer Securities constituting stock or another equity security or a debt security convertible into stock or another equity security that are distributed for the benefit of a Participant or his beneficiary or beneficiaries under 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 9.7 Right of First Refusal. In the event that the claim is denied, the denial shall be written in a manner calculated to be understood by the claimant and shall include the specific reasons for the denial, specific (or alleged violation) of part 4 of subtitle B of title I of ERISA, or, (C) pursuant to a settlement agreement between the 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 which back pay, irrespective of mitigation of damages, is either awarded or agreed to by an Employer or an Affiliate; provided, however, that the same Hour of Service shall not be credited both under section1.29(a)(1), 1.29(a)(2) or References to a specific section of ERISA shall include references to any successor provisions. 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. Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at 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 1.15 Eligibility Date shall mean the Employees Anniversary (a) Except as otherwise provided under this ArticleIX, the amount of the benefit to which a My current employer's retirement plan is up 14% so my decision was a no brainer! Then log in to Publix Stockholder Online > Account Tools > Uncashed Checks and click Request Replacement and follow the instructions on the form.. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. Mailing address Publix Super Markets, Inc. Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from (2) If a claim is denied, a claimant or his duly authorized representative shall have sixty (60)days after the receipt of such denial to petition the Plan Administrator in writing for a full and fair review of Service; or. such contribution. 15.4 Action by Employer. all data necessary for the administration of the Plan. Plan further; and. 7.4 Adjustments to 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 If you have no activity on your account during the previous calendar year, well provide you with an Annual Account Statement by the end of January. WHEREAS, the Company has previously adopted the Publix Super Markets, Inc. Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. A Participants share of the amount of the Employer contribution, Forfeitures, and 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. In the event that a Participant has not designated a beneficiary or beneficiaries, or if for any reason such designation shall be legally ineffective, or if such 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 Purchasing Stock. If both the Company and the Trustee (on behalf of the Plan) exercise such right of first refusal, the Company shall have the first right to make the purchase. Notwithstanding the foregoing, in the Plan Year in which a other amounts that receive special tax benefits (such as premiums for group-term life insurance, but only to the extent that the premiums are not includible in the gross income of the Employee and are not salary reduction amounts that are described under Section401(a)(9) of the Code; and. 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. (X) determined by the formula X=P(AB+D)-D. where P is the vested percentage of the Participant at such time, AB is the balance in the Participants Accounts (including any Publix Stockholder Resources | Tools for Publix Shareholders Current Stock Price $13.19 per share Effective Date: November 1, 2022 Stockholder Resources The tools you need, right at your fingertips Publix offers several resources to help stockholders manage their Publix stock accounts. Publix Super Markets, Inc. 401(k) SMART Plan, or other circumstances permitted under Section415 of the Code, the Annual Additions attributable to Employer contributions for a particular Participant (including savings and matching contributions Employer Securities at its Fair Market Value on the date of the conversion. Section401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution that is includible in gross income and the portion of such distribution that 9.5 Distribution Elections Before January1, 1984. Similarly, the Trustee may be changed from time to Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. Plan. 11.3 Availability. (or parent-in-law), grandparent (or grandparent-in-law), or any other family member who resides in the Participants household preceding such persons death. The Administrator shall not take any action or direct the Trustee to take any action whatsoever that would result 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 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). as a result of his prior termination of employment; provided, however, that nothing contained herein shall require or permit the Participant to return or otherwise have restored to his Accounts any Employer Securities or other funds distributed to from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the (2)the Participant had reentered the employ of an Employer but had not yet become eligible to resume participation in the Plan under section 5.3 at the time of his termination. 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 (i) (1) If a Participant incurs a One Year Break Manage your account online! to exercise the right of first refusal. portion of the balance to the credit of a Distributee, other than: (a) any distribution that is one of a series of The Plan Administrator shall keep a complete record of all its proceedings as the administrator of the Plan and 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. in making the adverse determination and will be provided to the claimant free of charge upon request, if the adverse determination is based on a medical necessity or experimental treatment or similar exclusion or limit, an explanation of the As you know, Publix is the largest employee owned supermarket in America. 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. regarding the claimants right to review, upon request and free of charge, all documents, records or other information relevant to the claim and 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). shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. Then suddendly in 2 years I had lost $9000, current stock price $36! 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. Participant is entitled under ArticleVIII hereof shall be paid to him, to the extent possible, in units of Employer Securities. Section 403(b) or governmental Code Section 457 plan. 14.3 Termination of Plan. Either way the return on investment that the Publix cult likes to imply, without officially stating, is a pipe dream.
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