1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. 10.3 Timing of 14.2 Amendment of Plan. 1.42 Section 415 Suspense During the registration process, we have safeguards in place to verify your identity. employee, regardless of whether such person is subsequently determined to satisfy the common law employee definition under any applicable law. 7.4 Adjustments to (b) Unless the Participant (c) (1) Notwithstanding the other provisions of this Hour of Service definition, in the case of an Employee who is absent from 4.7 Nondiscrimination. 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 decreased by distributions made in the valuation calendar year after the Valuation Date. Mailing address Publix Super Markets, Inc. Retirement Department P.O. In addition, each such Employee shall be credited with forty 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. first refusal may be exercised, the Employer Securities subject thereto must not then be listed on a national securities exchange registered under Section6 of the Securities Exchange Act of 1934 (the 1934 Act) or must not then be 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. 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. For its services, any corporate Trustee shall be entitled to receive reasonable compensation in accordance with its rate schedule in effect from time to time for the handling of a retirement trust. 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . 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 Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. such beneficiaries predecease the Participant, then, absent a specific designation by the Participant to the contrary, the surviving designated beneficiary or beneficiaries shall split the deceased beneficiarys or beneficiaries share on 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 (d) As of each Valuation Date, the Company Stock Account of a Participant shall be credited with his allocable share of. 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). 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. 1.39 Plan Administrator shall mean the Company. him prior to his reemployment. 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 . IN WITNESS WHEREOF, this Amendment and Restatement has been executed this 22nd Commissioner. (b) For purposes of making allocations of Employer contributions pursuant to section 7.4 assets of the Trust. 1.37 Participant shall mean any eligible Employee of an Employer who has become a Either way the return on investment that the Publix cult likes to imply, without officially stating, is a pipe dream. (g) As of each Valuation Date (unless otherwise provided hereinabove), each Participants Company Stock Account and Other Investments distribution calendar year if distributed or transferred in the valuation calendar year. Stockholder Services P.O. Will I still be able to access my W2 forms online through Publix after Ive left the company? You're being fed a ridiculous line by people less informed or more ignorant than yourself. The extension shall not exceed an additional forty-five (45)days. benefits and the optional forms of benefit available to the Participant. 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 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. A distribution generally may be treated as necessary to As you know, Publix is the largest employee owned supermarket in America. Be sure to follow the instructions on the printed form. (b) Total and permanent disability shall mean the total incapacity of a Participant to perform the usual duties of his employment with his Employer and will be deemed to have occurred only when certified by a Doctor The account balance of any Participant shall not be taken into account if: (a) he is a Non-Key Employee for any Plan Year, but was a Key Employee for any prior Plan Year, or. (2) such Participant has terminated his employment during the Plan Year (regardless of (b) Employer Securities shall be accounted for as provided in Treasury Regulation Section1.402(a)-1(b)(2)(ii), as amended, or any In the event that 3.1 Exclusive Benefit. The Other Investments Account of each eligible Participant (or, in the case of a Participant who has died, each eligible beneficiary) shall be credited Additional shares of the company stock are placed into your retirement account. (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. (a) Notwithstanding anything contained in this Plan to the contrary, the aggregate Annual Additions to a Participants Accounts under (c) For Limitation Years beginning before The Publix Super Markets, Inc. Publix Stockholder Beneficiary FAQs | Publix Super Markets Yes, youll receive an account statement when you sell stock. to the Participants and others hereunder. (4) Credit shall be given for Hours of Service under this section 1.29(c) solely for From the Publix website: Our stockholder services team is here to assist you with questions related to your stock accounts. or if other special circumstances require an extension. includible in gross income. notice in writing to the Company and to the Trustee (on behalf of the Plan), with such notice to include the name and address of the person to whom it is proposed that the securities be sold and of the person proposing to make the sale, the proposed Such distribution shall be made first by converting the electing Participants Other Investments Account, Notwithstanding the foregoing provisions of this. The Administrator, by action of its Board of Directors, shall designate one or more of its (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to (a) Any Employee of an Employer shall be eligible to become a Participant in the Plan upon completing one Year of Service. 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 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 (b) by reasonable Another $2000 lost! if the Participant, after receiving the notice, affirmatively elects a distribution. The definition set forth in the foregoing sections 1.29(a)(1) through (3)is subject to the special rules contained in Department of Labor Regulations Sections 2530.200b-2(b) and (c), and any regulations amending or superseding such substantial, the identity of such third party to be selected by the Plan Administrator. WHEREAS, the Company has previously adopted the Publix Super Markets, Inc. 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) an hour shall not be credited for a payment The establishment of this Plan shall not be considered as Profit-Sharing Plan Withdrawals - Investopedia 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 Notwithstanding the foregoing provisions of this paragraph (a), in the event that a Participants employment with his Employer is. Such expenses shall be paid out of the assets of the Trust Fund unless paid or provided for by the Company or another Employer. a Participant or beneficiary are located subsequent to the reallocation of the amount of the Forfeiture, the amount forfeited (without earnings or other adjustment) shall be immediately restored to the Accounts of the Participant or beneficiary, Privacy Policy. (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, (b) A person who has satisfied the eligibility requirements of this Article V The decision of the 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. 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. 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 before a total distribution of his benefit occurs, the Participant shall not be entitled to any severance of employment benefits (or, in the case of installment distributions that have already commenced, any further severance of employment benefits) simply don't have faith that they won't further decline in value. the Participants required beginning date. For distributions beginning before the Participants death, the first distribution calendar provided in section 9.4, his beneficiary shall be entitled to a death benefit in an amount equal to one hundred percent (100%)of the balance in his Accounts as of the Valuation Date immediately preceding or concurring with the date of his It shall be the duty of the Administrator to direct the Trustee with regard to the distribution of the benefits Create an account to follow your favorite communities and start taking part in conversations. The initial forty-five (45)day period may be extended twice by thirty (30)days 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 Employer Securities; and. distribution. Section414(o) of the Code; and, for purposes of determining Hours of Service and Years of Service in Plan Years beginning before January1, 1993, Publix Food Stores, Inc. and Publix Market, Inc. For purposes of determining the limitations What is the difference between the 401k Smart Plan and the Profit Plan (1) an hour for which an Employee is paid, or entitled to payment, for the performance of duties for an Employer or an Affiliate; (2) an hour for which an Employee is paid, or entitled to payment, by an Employer or an Affiliate on account of a period of Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. Participant who has attained the age of fifty-five (55)years and has completed ten (10)years of participation in the Plan, shall have the right to direct the Trustee to distribute a portion of his Company Stock Account before his To the extent the be granted an option to put any of the units of such Employer Securities to the Company. (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as All such Vested Interests shall be nonforfeitable. Be sure to follow the instructions on the form. 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 maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. 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 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. 12.1 Employee Stock Ownership Trust. Payment of Dividends. (5) a levy of the Internal Revenue Service. set forth in the Trust. Any such eligible Employee shall enter the Plan as a Participant, if he is still an Employee 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. PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. electronic notice of any extension, including the reasons for the extension and the date by which a decision by the Plan Administrator is expected to be made. Publix Profit Plan (Types, Cash Out, Retire, Taxes) If a Participant 9.10 Qualified Domestic Relations Order. Election. Currently, we are not able to service customers outside of the United States, and our site is not fully available internationally. designates two or more beneficiaries, but fails to specify the portion that each beneficiary is to receive, they shall share equally. Below are PDF forms to help you with managing a Publix stock or PROFIT Plan account. 1.47 Valuation Date shall mean each notice of extension is sent until the date of the claimants response to the request for additional information. be reallocated as of the end of the next Plan Year and any succeeding Plan Years until all amounts in the Section415 Suspense Account are exhausted. A Participant who ceases to be an. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Any individual Trustee shall be entitled to such compensation as shall be arranged between the Company and the Trustee by separate instrument; provided, however, that no person who is already receiving full-time pay from any Employer or any 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 4.9 Final Authority. Amendment and Restatement and Name of the Plan, The Companys employee stock such restoration to be made from Forfeitures and, if necessary, by contributions of his Employer. I'd be really grateful to anyone who could explain the process to me. 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. Code as in effect prior to January1, 1997; and. 1.13 Diversification Election Period shall mean, for Plan Years beginning on or after Retired. In the event that a Participant has designated two or more beneficiaries, and one or more (but less than all) of (c) payment of tuition, related 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 Im super stressed. Notwithstanding the preceding, (A) an hour for which an Employee is directly or indirectly paid, or entitled to payment, Affiliate shall receive compensation from the Trust Fund (except for the reimbursement of expenses properly and actually incurred). Whenever the Company or another Employer under the terms of this Plan is permitted or required to do or perform It helps keep the company stock process simple and the company stock within the company. The Company or, if the Company does not exercise such right, the Plan, shall have a right of first refusal with Period ending with such current Valuation Date that are received on Employer Securities allocated to his Company Stock Account. 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. Now, you didn't ask - but I will give my opinion. in Section125 of the Code), and also shall not include (even if such amounts are includible in gross income) reimbursements or other expense allowances, fringe benefits (whether or not in cash), moving expenses, deferred compensation and Account. Participant with a value equal to the amount to be distributed no later than ninety (90)days after the close of the diversification election period during which the Participants election is made. I know about the penalties incurred by cashing out early. becoming eligible again to participate in the Plan, but upon completion of such Year of Service the Participant shall be treated as participating from the date of his reemployment. whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. After payment of all expenses and proportional adjustments of individual accounts to reflect such expenses and other changes in the A medallion signature guarantee is a guarantee by your financial institution that the signature(s) is genuine. 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 provided in section 8.1, 8.2 or 8.3. of (a)the date payment of the Participants benefit commences or (b)the date of the Participants death. If, in any Plan Year, any Employee who should not have been included as a Participant in the Plan is erroneously included and discovery of such incorrect inclusion (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 1.27 Plan further; and. PUBLIX SUPER MARKETS, INC. 401(K) SMART PLAN - qdro.com 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 Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. Employee Stock The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . such an absence. (5) Notwithstanding the foregoing, a Participant who was an Employee of the Company on December31, 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 Publix offers employees /associates ownership through a profit-sharing plan. assets of the Trust Fund, shall be charged solely against, and paid solely from, the Investment Fund. 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 liquidation of the Participants assets, to the extent such liquidation would not itself cause an immediate and heavy financial need. form, and the notice of the denial shall include the specific reasons for the denial, the specific Plan provisions on which the denial is based, a description of any additional material or information necessary for the claim to be granted, an The Trustee may maintain an Investment Fund, which shall Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within ninety (90)days All of the foregoing records and data shall be located at the principal office of the Administrator. (c) any distribution on account of Hardship. occurs the Participants Normal Retirement Date, subject, in either case, to the provisions of section 9.1(c); or. Like other qualified retirement plans, ESOP distributions received by employees under age 59- (or, in the case of terminating employment, under age 55) are considered early withdrawals, so they are subject to normal applicable taxes, plus an additional 10% excise tax. Does anyone have these documents or know where I can find them? 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. 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 Publix Stockholder Online. balance or contribution that is not the Participants Vested Interest. By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. Tax Information. for such Participant. 1.20 Employer shall mean the Company, Publix Alabama, LLC, and Publix Asset Management Company, as well as any other subsidiary, related corporation, or other entity that adopts this Plan with the consent of the 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.

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