(b) If any such Employer Securities, when (b) distributed as soon as practicable following the processing of a Participants request for distribution; provided, however, that distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. (3) If a Participant is less than one hundred percent (100%)vested in his Accounts and his Forfeitable Interests have been placed in Forfeiture Suspense Accounts pursuant to section January1, 2008, if as a result of the allocation of Forfeitures, a reasonable error in estimating a Participants Section415 Compensation, a reasonable error in determining the amount of elective deferrals that may be made to the not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. 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. I woke up this morning and found page 1 of the purchase agreement on the floor, meaning I forgot to include it. Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. 10.1 Diversification Distributions. quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. Publix 401(k) SMART Plan. satisfy a financial need if the Administrator reasonably relies upon the Participants representation that the need cannot be relieved, (a) through reimbursement or compensation by insurance or otherwise; or. Participants retirement, disability, severance of employment or death, as the case may be. Employer Securities from such Account for the purchase, directly or indirectly, of assets other than Employer Securities. In the event that (a) The provisions of this section 9.6 relate to all Employer Securities held as Reddit and its partners use cookies and similar technologies to provide you with a better experience. For more information, please see our (4) for persons employed by Care Systems Corporation acquired by the Company on December27, 1996, service with such predecessor employer if such person became an Employee of the Company on December28, shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 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. 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 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 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, payment of the contribution; and any contribution made by an Employer that is conditioned upon the deductibility of the contribution under Section404 of the Code (each contribution shall be presumed to be so conditioned unless the Employer The amount of any benefit to which a (j) The Plan Administrator may adopt such additional accounting procedures as are necessary to accurately reflect 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. (2) The Hours of Service to be credited to an Employee under the provisions of section 1.29(c)(1) are the Hours of Service that otherwise Press J to jump to the feed. Securities subject to the right of first refusal (whether or not such person received such securities from the Trust or as a result of a gift, a pledge or otherwise) desires to sell such securities, or any portion thereof, such person shall provide Trust (with respect to all Employers if it is the Company, or with respect to itself alone if it is an Employer other than the Company), completely or 1.41 Section 415 Compensation shall include all wages within the meaning of Section3401(a) of the Code (for purposes of (a) Such a Participant may elect, within ninety (90)days after the close of the first Plan Year in the Diversification Election The Company or, if the Company does not exercise such right, the Plan, shall have a right of first refusal with Because the PROFIT Plan is a retirement plan, you must meet certain requirements before you can request a distribution. You can also complete a Stock Transfer Request Form and . Remember, as this is a retirement account you will pay a penalty to the IRS on top of any taxes due. 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 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. Disclosure. The Account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the Accounts. Publix offers employees /associates ownership through a profit-sharing plan. 1.28 Highly Compensated Employee shall mean, with respect to any Plan Year: (1) was a five percent (5%)owner of an Employer at any time during the Plan Year or the preceding Plan Year; or, (2) for the preceding Plan Year, had Section415 Compensation in excess of $80,000 (as adjusted from time to time under applicable law); or. And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. suspense accounts. 4.9 Final Authority. a pro-rata basis (based upon the percentages designated by the Participant). (5) Notwithstanding any other provision of this section 1.29(c), no credit shall be given under this section 1.29(c) unless the Employee with Hours of Service pro-rata based on 40 hours for a full payroll period (one week), and non-exempt, hourly-paid, part-time Employees shall be credited with Hours of Service pro-rata based on a full payroll period equal to the average hours worked designated beneficiary in accordance with Section401(a)(9) of the Code and the applicable Treasury regulations issued with respect thereto. Tax Information. provided in section 8.1, 8.2 or 8.3. 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. 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 1.37 Participant shall mean any eligible Employee of an Employer who has become a (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and I dont want to leave and end up getting nothing from my stocks, being shafted by management and losing access to my W2s. to the distribution of any portion of the balance of a Participants Accounts that is subject to a designation made by a Participant prior to provisions thereof. Participants Account balance shall refer to the Account balance as of the last Valuation Date in the calendar year immediately preceding the distribution calendar year (the valuation calendar year), adjusted as follows: When Employees are affected by a significant natural disaster, also known as an Act of God, the Administrator may temporarily expand the provisions of this section 11.2 to allow Participants, who are active Employees (who may be counsel for an Employer), specialists and other persons that it deems necessary and desirable in connection with the administration of this Plan. I know about the penalties incurred by cashing out early. (B) For a Participant who (i)receives an allocation of Employer contributions, Participant is entitled under section 8.1, 8.2, 8.3, or 8.4 shall be paid to him or, in the case of a death benefit, shall be paid to the Participants beneficiary or beneficiaries, beginning as soon as practicable following the But I have a few questions before I put in my two weeks and start making moving plans: When in 2018 can I leave Publix and still receive my shares of stock from 2017? 15.7 Veterans Reemployment Rights. in unfairly benefiting one Participant or group of Participants at the expense of another or in improperly discriminating between Participants similarly situated or in the application of different rules to substantially similar sets of facts. substantial, the identity of such third party to be selected by the Plan Administrator. permitted by law, the provisions of this section 9.6 are not terminable for any reason, including as a result of the cessation of the Plan as an employee stock ownership plan. Typically, a Company Sponsor (Employer) of this type of plan creates an account for every individual Participant. of any voluntary appeal procedures offered under the Plan, the claimants right to obtain information about such procedures, a statement regarding the claimants right to bring a civil action under Section502(a) of ERISA, if Hardship withdrawals permitted pursuant to (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 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. (2) for a specified period of ten years or more; (b) any distribution to the extent such distribution is required of the Participants birthday in the distribution calendar year; or. 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. of an Employer, on his Eligibility Date. Employee Stock Ownership Plan, which has been amended 10.2 Thanks Publix for the awesome subs, soup, and blue collar work experience. You will receive a packet in the mail. 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. Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within forty-five after the application is filed with the Administrator, unless special circumstances, which are made known to the claimant, require an extension of time for processing, in which event action shall be taken as soon as possible, but not later than one The entire process to cash out the stocks from your profit plan takes 4 weeks, so I told them the day I'd be leaving the company and they are now sending the proper paperwork to me in the mail so I can fill them out and minimize the time in which I leave Publix and receive my check. 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 14.4 Method of Discontinuance. The Company shall bear all (a) In the event an Employer decides to terminate this Plan and the Trust, such decision shall be evidenced by an appropriate resolution alternate payee or a deceased beneficiary of a Participant on forms supplied by the Plan Administrator. paragraph (a), in the event that a Participants employment with his Employer is terminated by reason of his death, he shall not become fully Date if during such consecutive 12-month period, the Employee completes 1,000 Hours of Service for an Employer or an Affiliate thereof. I simply don't have faith that they won't further decline in value and as someone fresh out of college I could use the quick cash infusion. balance of a Participants Accounts has not been distributed and remains in the Plan, and notwithstanding anything contained in the Plan to the contrary, the value of such remaining balance shall be subject to adjustment from time to time Each designation or revocation shall be evidenced by written instrument signed by the Participant and filed with the Plan Administrator. (c) Notwithstanding any other provision of this section 8.3 to the contrary, if a Participant is reemployed by an Employer or an Affiliate Publix is an equal opportunity employer committed to a diverse workforce. 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. If such Participant incurs five (5)consecutive One Year Breaks in Service, then upon the occurrence of such five (5)consecutive One Year 1.17 Eligible Rollover Distribution shall mean any distribution of all or any be determined for any Plan Year as of the last day of the immediately preceding Plan Year. 1.13 Diversification Election Period shall mean, for Plan Years beginning on or after 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. 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) Notwithstanding anything contained in this Plan to the contrary, the aggregate Annual Additions to a Participants Accounts under and additional contributions unless: (1) such Participant has been credited with a Year of Service as of the date preceding Period, to receive a distribution of shares of Employer Securities in an amount not exceeding twenty-five percent (25%)of the portion of the balance of his Company Stock Account attributable to Employer Securities, determined as of the last maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. Such expenses shall be paid out of the assets of the Trust Fund unless paid or provided for by the Company or another Employer. 4.6 Conflict in Terms. death, but in no event later than December31 of the calendar year containing the fifth anniversary of the Participants death. 4.5 Publix is an equal opportunity employer committed to a diverse workforce. In (B) (for any Participant whose One Year Break in Service occurred as a result of his severance of employment) (c) In the final Plan Year of the Diversification Election Period, the Participant may elect to receive a (b) At the election of the Participant, the Plan Administrator may transfer the amount of any Participants Eligible Rollover Im super stressed. Accordingly, any balance in the Participants Other Investments Account shall be converted into shares of (2) If federal or state law will be violated by the Company honoring the put option the mortgage of such residence, or. (a) Any Employee of an Employer shall be eligible to become a Participant in the Plan upon completing one Year of Service. Plan. (40)Hours of Service for each week of employment during the period beginning on his most recent Anniversary Date prior to October1, 1975, and ending on October1, 1975. this Plan is a Top Heavy Plan, a Participants Vested Interest in his Accounts shall be a percentage of the balance of such Accounts as of the applicable Valuation Date, based upon such Participants Years of Service as of the date of the 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. 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 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 Distribution for Minors. same respectively are due and payable under the terms of this Plan and the Trust. Profit plan withdraw 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. (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, exceed twelve (12)weeks reduced by any time for which the Employee receives sick pay from an Employer or an Affiliate for the FMLA leave; (B) any time for which an Employee is on an unpaid military leave, which period shall not exceed twelve (12)weeks; (C) any time for which an Employee is absent from work due to a workers compensation injury, which period shall not exceed fifty-two (52)weeks reduced by any time for which the Employee receives sick pay The unofficial subreddit for people that like to shop and/or work at Publix super markets. Administrator shall establish and maintain with respect to each Participant two accounts, designated as a Company Stock Account and an Other Investments Account, that shall reflect the Participants interest in the Trust Fund. If the amount equal to the Participants Vested Interest, In the For other PROFIT Plan account needs, contact the Publix retirement department. If such an extension is required because of special circumstances, written or electronic notice of the extension shall be furnished to the claimant prior to the commencement of the extension. (i)the Account balance is increased by the amount of any contributions made and allocated or Forfeitures allocated to the Account balance as of dates in the valuation calendar year after the Valuation Date; and (ii)the Account balance is Beneficiary/Transfer on Death (TOD) Dividends. giving any Employee, or any other person, the right to be retained in the employ of any Employer or any Affiliate. him prior to his reemployment. An alternate payee who is entitled to benefits 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 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 Period shall mean the period beginning with the first day after a Valuation Date and ending with the next Valuation Date. by the Code and other applicable law, the provisions of Article VIII and this ArticleIX shall not apply. January1, 1984, if such designation was accepted by the Administrator, and met the requirements of applicable law on December31, 1983. 15.4 Action by Employer. Retired. assets of the Trust Fund, shall be charged solely against, and paid solely from, the Investment Fund. 14.3 Termination of Plan. Secretary of Labor and the Participant, or a settlement agreement between the Pension Benefit Guaranty Corporation and the Participant, in connection with a violation (or alleged violation) of part4 of subtitle B of title I of ERISA by a 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 Plan provisions on which the determination is based, a statement that the claimant is entitled to receive, upon request and free of charge, access to, and copies of, all documents, records and other information relevant to the claim, a description In the event that the claim is wholly or partly denied, the Plan Administrator shall notify the claimant in written or electronic 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 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. 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 The extension shall not exceed an additional forty-five (45)days. 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. 8.4(c), a Participant shall not be required to obtain spousal consent to his designation of another beneficiary if the Participant is legally separated or (a) In the event that a Participants employment with his Employer is terminated by reason of his Amounts displayed are adjusted for the 5-for-1 stock split, effective April 14, 2022. Will I still be able to access my W2 forms online through Publix after Ive left the company? 4.11 Appointment of Advisors. (3) The earnings attributable to Participants Other Investments Accounts shall not The identity of any medical or vocational experts who provided 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 The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . The Administrator shall determine whether a distribution is necessary to How and when you can take from 401 (k) is determined by the IRS. For purposes of determining each Participants share of the Employer contribution, Forfeitures and additional contributions for the Plan Year ending 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 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 (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 Im looking to move to a state without Publix soon, so Ill have to retire from Publix and get a job somewhere else. 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 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 7.3 Interest of Participant. day of such Plan Year. (d) any individual categorized by his Employer as an independent contractor or leased This Plan and the Trust may not be merged or consolidated You can also fax or mail a letter of instruction to Publix stockholder services that includes the. Participants Company Stock Account and/or Other Investments Account established pursuant to section 7.2 with respect to Employer contributions made pursuant to ArticleVI, and shall include amounts credited to the account of a Participant shall not include any Year of Service prior to a One Year Break in Service, but only prior to such time as the Participant has completed a Year of Service after such One Year Break in Service. 1.4 Anniversary Date Heads up to anyone holding onto the $1000 or so worth of stock you're left with if you leave immediately after becoming vested and thinking they'll be a millionaire by retirement age. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in In the event that a Participant distribution calendar year if distributed or transferred in the valuation calendar year. 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, Except to the extent otherwise required by law, the decision of the www.publix.com. (B) Earnings attributable to the Investment Fund for any Valuation Period shall be allocated to each Participant who has an Other Privacy Policy. using a strong and unique password for your online account such as, using letters, numbers and special characters, avoiding common or easy-to-guess words and letters and numbers in a sequence, not using repeated or reused passwords from other online accounts or sites, monitoring your Plan information, including your online account, and Plan account correspondence for transactions you did not authorize, keeping your contact information and communication preferences up to-date to ensure that you receive all Plan notices, being careful when using free Wi-Fi networks that impose security risks and. For more information, current Publix associates can visit PASSport. references to pertinent provisions of the Plan on which the denial is based, a description of the material information, if any, necessary for the claimant to perfect the claim, an explanation of why such material information is necessary, a 1.35 One Year Break in Service shall mean a year beginning with an by Hoyt R. Barnett, as Trustee, or by a successor Trustee or Trustees, for use in accordance with the Plan under the Trust. 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 the meaning of Section415(c)(3) of the Code; and the determination date means the last day of the Plan Year immediately preceding the Plan Year for which top-heaviness is to be determined. the provisions of section 8.4) as soon as practicable following the death of the alternate payee, unless and to the extent that the Qualified Domestic Relations Order provides otherwise. make the distribution to a natural guardian where applicable (e.g., Florida Statute Section744.301). No Early Withdrawal Penalty. (a) Except as otherwise required in the Trust, for purposes of all computations required by this ArticleVII, the accrual method of (a) A Participant shall be entitled to retire from the employ of his 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 Participants Other Investments Account. beneficiary or 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 PROFIT Plan (employee stock ownership plan) account or 401 (k) SMART Plan account. the Participants Account shall be made in a single lump sum payment as soon as administratively practicable following the death of the Participant. (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as If you can't find it here, just let us know how we can help. (b) A person who has satisfied the eligibility requirements of this Article V in the Diversification Election Period, such a Participant may elect to receive a distribution of shares of Employer Securities in an amount equal to the difference between, (1) twenty-five percent (25%)of the portion of the balance of his Company Stock Account attributable to Employer Securities, period ending on the most recent Anniversary Date prior to such termination, or. Except as otherwise permitted by law, in no event shall any part of the principal or income of the Trust be paid to Any help and advice is greatly appreciated. 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 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 Distribution. 1.24 Forfeitable Interest shall mean, as of any date, the amount equal to the percentage of a Participants Account distribution is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Participant.