by the Code and other applicable law, the provisions of Article VIII and this ArticleIX shall not apply. WHEREAS, the Company has determined that it is advisable and in the best interests of the Participants to amend 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 Each Employer may make a contribution to the Trust for each Plan Year. 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. But, it's you stock and life. (e) effective January1, 2008, contributions allocated pursuant to Code Section415(l)(1) to any individual However, such portion may be transferred only to an individual retirement account or annuity described in Section408(a) or (b)of the Code, or to a qualified defined contribution plan described in (Our apologies!) (5) By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. 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 401 (k) is pre-tax contribution to a deferred tax account. For more information, current Publix associates can visit PASSport. Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . 14.4 Method of Discontinuance. Mailing address Publix Super Markets, Inc. Participants Other Investments Account. Distribution. 1988, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; and. 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 (f) In the event that distribution to the Participant commences under section 9.1(b)(2), the minimum amount (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and (3))allocated to the Participant under any defined contribution plan maintained by an Employer or an Affiliate; (b) (c) For purposes of Article VIII and section 14.1(e), an Employees Years of Service 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? Subject to the provisions of section 7.7, the Company Stock Account and the Other Investments Account of a Participant shall be adjusted from time to time as follows: (a) As of each Valuation Date, a Participants Company Stock Account shall be credited with any stock dividends for the Valuation 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 distribution of shares of Employer Securities in an amount equal to the difference between, (1) fifty percent (50%)of 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 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. (2) If a claim for disability benefits is wholly or partly denied, a claimant or his authorized representative shall have one hundred eighty (180)days after the receipt of such denial to file a request with the NOW, THEREFORE, the Plan deference will be given to the initial denial. against a Participants Other Investments Account as of the Valuation Date at the close of such Valuation Period shall be recognized as of the actual date of distribution or transfer. contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under applicable provisions of the Code. 1.2 Administrator shall mean the Plan Administrator. Employer Securities distributed pursuant to this Article X shall be subject to the provisions of sections 9.6 and 9.7. Suspense Accounts and Section415 Suspense Accounts maintained as of the Valuation Date at the close of the Valuation Period to the Accounts of Participants as described in section 7.4(f). It is the present intention of the Company to maintain the Plan set forth herein indefinitely. (2) for a specified period of ten years or more; (b) any distribution to the extent such distribution is required The amount of any benefit to which a 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. Notwithstanding the preceding provisions of this section. 1.6 Board of Directors and Board shall mean the board of directors of the 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 Amounts displayed are adjusted for the 5-for-1 stock split, effective April 14, 2022. decreased by distributions made in the valuation calendar year after the Valuation Date. In order to protect your personal information, we automatically log you out of your account after a certain period of inactivity. under Section401(a)(9) of the Code; and. 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, Then log in to Publix Stockholder Online > Account Tools > Sell Stock and follow the on-screen process to complete and print the required form. 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. 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 Section408(a) of the Code or an individual retirement annuity described in Section408(b) of the Code. 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 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. bears to the sum of the average monthly balances in the Other Investments Accounts during the Valuation Period ending with the current Valuation Date of all Participants who are entitled to share in such earnings. maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. 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 Contact your financial institution or brokerage firm for information regarding medallion signature guarantee services. Ownership Plan shall mean January1, 2007. Except to the extent otherwise required by law, the decision of the Plan Administrator in matters within its jurisdiction shall be final, binding and conclusive upon each Employer and each Employee, Participant and beneficiary and every other interested or concerned person or party. The Administrator shall notify each Employee, in writing, as to the existence of the Plan and Trust and the basic Excess Annual Additions shall be disposed of as provided in section 7.7(c). I did incur the penalty, but again I had personal demands so I had to take the hit. An eligible Participants diversification election shall be made in writing on such forms as may be approved by the Plan Administrator, with the Participant designating the percentage or number of shares to be The amount, if any, contributed by an receipt of the request for review. 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 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 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 A Participant who ceases to be an. Code, and, for purposes of sections 9.3, 9.6, 9.7, and 11.5, Fair Market Value shall mean the independent appraisers latest appraisal that has been delivered to the Company as of the date in question. Date immediately preceding or concurring with the date of the termination of his employment, increased by the amount of contributions, if any, made by his Employer to, and decreased by any distributions made to the Participant from, the purposes of this definition, the aggregate account balances for any Plan Year shall include the account balances and accrued benefits of all retirement plans (i) (1) If a Participant incurs a One Year Break Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within forty-five If such Participant incurs five (5)consecutive One Year Breaks in Service, then upon the occurrence of such five (5)consecutive One Year January1, 1984, if such designation was accepted by the Administrator, and met the requirements of applicable law on December31, 1983. 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. (j) The Plan Administrator may adopt such additional accounting procedures as are necessary to accurately reflect (f) For purposes of sections7.4(c)(2), 7.4(d) and 7.4(e), Employer contributions, Forfeitures, and earnings attributable to 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 Trustees compensation, the compensation of any investment manager, the expense incurred by the Administrator in discharging its duties, all income or other taxes of any kind whatsoever that may be levied or assessed under existing or future 1.8 advice to the Plan in connection with the initial denial shall be provided to the claimant without regard to whether such advice was relied upon. accounting shall be used, and the Trust Fund, each separate portion of the Trust Fund and the assets thereof shall be valued at their fair market value as of each Valuation Date. substantially equal periodic payments (not less frequently than annually) made, (1) for the life (or life expectancy) of the For purposes of this section Employer; (c) a nonresident alien who does not receive earned income from sources within the United States; and. All Rights Reserved. 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, (2) such Participant has terminated his employment during the Plan Year (regardless of The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in (ii) that portion of the income earned or 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. The Administrator shall determine service for an Employer during the Plan Year, but was an actively employed Highly Compensated Employee in the Plan Year of his separation or any Plan Year ending on or after the date he attained age fifty-five (55). 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 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 Sections, which special rules are hereby incorporated in the definition of Hour of Service by this reference. The required minimum distribution for the Participants first distribution calendar year will be made on or before From the Publix website: Our stockholder services team is here to assist you with questions related to your stock accounts. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . 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). 52327 Toll-free: 1-800-741-4332 (outside of Lakeland) 1.48 Valuation (b) A person who has satisfied the eligibility requirements of this Article V to the Publix Super Markets, Inc. 401(k) SMART Plan) would cause the limitations set forth in this section 7.7 to be exceeded, the excess amount shall be held unallocated in the Section415 Suspense Account for the Plan Year and reallocated Any Employee who was a Participant in this Plan immediately prior to the Effective Date shall remain as a Participant in the Plan. (or alleged violation) of part 4 of subtitle B of title I of ERISA, or, (C) pursuant to a settlement agreement between the previously credited to one or more Participants Forfeiture Suspense Accounts that has been forfeited pursuant to the provisions of section 7.4(i), as well as any amount forfeited pursuant to sections 6.6 and 9.9. During the review period, the claimant may (1) Claims for benefits under the Plan may be made by a Participant, 7.5 be granted an option to put any of the units of such Employer Securities to the Company. The Company shall bear all percent (100%)of the Participants Section415 Compensation for such Limitation Year. My buddy cashed out many many years ago his 50k would be worth around 150k now and would still be getting dividend checks. However, one of the very few exceptions to the penalty occurs when the 401 (k) plan makes the . Reddit and its partners use cookies and similar technologies to provide you with a better experience. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. I was working partime at Publix buying stocks (as my only benefit left), until I noticed that my 401k was taking a major hit, down 8%! 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 Also not in limitation, but in amplification of the foregoing, the Administrator shall have the power and discretion to adopt and implement rules for the purpose of Participant reaches age 701/2 or retires, whichever is later; provided, however, that: (A) a Participant who attains age 701/2 prior to January1, 1999, shall receive his benefits in accordance with the minimum distribution requirements under Section401(a)(9) of the Code as in effect 7.4 Adjustments to (c) The following special rules shall apply to any put option granted with respect to any such Employer Securities: (1) At the time that any such put option is exercised, the Plan shall have an option to assume the rights and obligations of the Company adjustments thereto. 6.1 Employer Contribution. quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. 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 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 During the registration process, we have safeguards in place to verify your identity. 7.7(a)(2). 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 experience in the field of medicine involved in the medical judgment and who was not consulted in connection with the initial denial or subordinate to that health care professional. claim is expected to be made shall be furnished to the claimant prior to the end of the initial forty-five (45)day period. Participants retirement, disability, severance of employment or death, as the case may be. 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. Any such eligible Employee shall enter the Plan as a Participant, if he is still an Employee Im very eager for my move as its a location Ive always dreamed of moving to, but Im very nervous about leaving Publix. 15.6 Gender. 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. (B) Earnings attributable to the Investment Fund for any Valuation Period shall be allocated to each Participant who has an Other You can also complete a Stock Transfer Request Form and . The Administrator, by action of its Board of Directors, shall designate one or more of its his Anniversary Date occurring during the Plan Year and the Participant is employed by his Employer on the last day of the Plan Year, or. 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 resolution options, such as mediation. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . Manage your account online! benefits and the optional forms of benefit available to the Participant. paragraph (a), in the event that a Participants employment with his Employer is terminated by reason of his death, he shall not become fully The Administrator shall establish procedures consistent with Notwithstanding the foregoing, if the law of the applicable state permits distribution to a natural guardian of the child, then the Plan Administrator is authorized to If such notice is given after the tenth (10th)day after the date such Thanks for actually answering the question rather than giving me the corporate line. 3.2 Mistake of Fact. Now, you didn't ask - but I will give my opinion. 12.1 Employee Stock Ownership Trust. 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 (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. case where the designated beneficiary is the Participants surviving spouse, at the time the Participant would have reached age 701/2; and. The minimum amount of any hardship distribution shall be $100 (rounded up to the nearest whole number of shares Im looking to move to a state without Publix soon, so Ill have to retire from Publix and get a job somewhere else. the date of discontinuance specified in such resolutions shall, aside from becoming fully vested as provided in section 14.3, be held, administered and distributed by the Trustee in the manner provided under this Plan. How and when you can take from 401 (k) is determined by the IRS. 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. 1.41 Section 415 Compensation shall include all wages within the meaning of Section3401(a) of the Code (for purposes of 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 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. (b) At the election of the Participant, the Plan Administrator may transfer the amount of any Participants Eligible Rollover Employer Securities cease to be so traded, the duration of the put option shall be extended by the number of days between such tenth (10th)day and the date on which notice is actually given. 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 consents to the distribution. 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. Qualified Domestic Relations Order. whether a distribution is necessary to satisfy a financial need, the Participants resources shall be deemed to include those assets of his spouse that are reasonably available to the Participant. Either way the return on investment that the Publix cult likes to imply, without officially stating, is a pipe dream. Employee Stock Ownership Plan, commonly known as the Publix PROFIT Plan, originally adopted as of October 1, 1974, as a stock bonus plan with employee stock ownership plan features, is hereby amended and restated this 22 nd day of January, 2008, but is effective for all purposes as of January 1, 2007, except as may The small lump sum you'd recieve now, post-tax, is insignificant compared to the appreciation you'd recieve after stock splits and asset growth through the decades. Any and all expenses (including, of its Board and a certified copy of such resolution shall be delivered to the Plan Administrator and the Trustee. Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. the quotient obtained by dividing the amount of the Participants Account balance by the distribution period in the Uniform Lifetime Table set forth in Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants age as More or less, your Publix stock is like a retirement account that easier to access in an emergency. this Plan and under any other defined contribution plans maintained by an Employer or an Affiliate for any Limitation Year shall not exceed the lesser of (1)$40,000 (as adjusted from time to time under applicable law) or (2)one hundred 4.6 Conflict in Terms. (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 The Administrator may appoint such accountants, counsel Eligible Retirement Plan shall mean an individual retirement account described in Section408(a) of the Code, an individual retirement annuity described in Section408(b) of the Code, an annuity plan described in The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the Participants required percentage allocated to the accounts of any Key Employee. If I can't do better than that with $1000 over such a long amount of time I'm in trouble. Amounts attributable to the Investment Fund shall be invested by the Trustee in the manner Always remember that just because Publix stock is the easiest stock for you to get your hands on, it's by no means the only or best. This Plan is created for the sole purpose of providing benefits to the

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