Notwithstanding the foregoing, no distribution shall be made of the benefit to which a Participant or beneficiary is entitled if the Plan Administrator has actual knowledge that such Participant or beneficiary 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 6.1 Employer Contribution. 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 Participant who is a five percent (5%)owner (as defined in Section416 of the Code) shall begin receiving payment of his retirement benefit no later than April1 after the end of the calendar year in which he attains age 701/2 even if he has not actually retired from the employ of his Employer at the time, and the elections described in section day of January, 2008. 1.44 Trust shall mean the Publix Super Markets, Inc. decreased by distributions made in the valuation calendar year after the Valuation Date. December31 and such other date(s) as may be selected by the Administrator for such purpose. Employee Stock Ownership Plan, which has been amended (e) Notwithstanding the foregoing, benefit payments shall satisfy the incidental death is not made until after a contribution for the Plan Year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible person regardless of whether or not a deduction is allowable with respect to 1.25 Forfeiture shall mean an amount partially, at any time without any liability whatsoever for such permanent discontinuance or complete or partial termination. Such values shall 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. 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. simply don't have faith that they won't further decline in value. 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, and comments in writing. 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 Period ending with such current Valuation Date that are received on Employer Securities allocated to his Company Stock Account. (a) In the event an Employer decides to terminate this Plan and the Trust, such decision shall be evidenced by an appropriate resolution The extension shall not exceed an additional forty-five (45)days. 9.4 Periodic Adjustments. 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 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). Publix Stockholder Online. distribution of shares of Employer Securities in an amount equal to the difference between, (1) fifty percent (50%)of Then suddendly in 2 years I had lost $9000, current stock price $36! restricted consent (which may not be changed as to the beneficiary unless the Eligible Spouse consents to such change in the manner described herein). By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. all data necessary for the administration of the Plan. You also can visit Publix stockholder services at the corporate office to sell your Publix stock. 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. Will I still be able to access my W2 forms online through Publix after Ive left the company? In addition, each such Employee shall be credited with forty determined as of the last day of such Plan Year, and. 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 Any such eligible Employee shall enter the Plan as a Participant, if he is still an Employee (b) any former Employee who separated from service (or was deemed to have separated from service) prior to the Plan Year and performs no The Administrator shall determine 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. Adjustments shall then be made to this Plan, if necessary to comply with such limits, before any adjustments may Im super stressed. contribution is made to the Trust. Forms for Publix Stockholders: Direct Deposit, Address Change Publix Profit Plan (Types, Cash Out, Retire, Taxes) 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. than such Employer that is a member of an affiliated service group, within the meaning of Section414(m) of the Code, of which such Employer is a member; any other organization that is required to be aggregated with such Employer under beneficiary and shall receive the full amount of the death benefit attributable to the Participant unless the Eligible Spouse consents or has consented to the Participants designation of another beneficiary. References to a specific section of the Code shall include references to any successor provisions. In the event that the claim is wholly or partly denied, the Plan Administrator shall notify the claimant in written or electronic Publix Stockholder Tax FAQs | Publix Super Markets Home About Publix Publix FAQs Stockholder Tax Information Stockholder Address Changes Beneficiary/Transfer on Death (TOD) Dividends Medallion Signature Guarantee Publix Stockholder Online Purchasing Stock Selling Stock Stock Certificate Tax Information Transfer Agent Transferring/Gifting Stock Retirement Date. (c) Notwithstanding the provisions of section 15.2(a), the Plan Administrator shall direct the Trustee to comply with the lawful terms of for such Participant. Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. 10.5 Prior Rule. 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, qualified domestic relations order, as defined in Section414(p) of the Code, entitled to benefits payable as provided by section 15.2(b), and. Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in I am currently waiting on the actual transaction to take place, but taking a 60 day roll over option would avoid all the taxes and penalties. Does anyone have these documents or know where I can find them? (B) Earnings attributable to the Investment Fund for any Valuation Period shall be allocated to each Participant who has an Other 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 Notwithstanding the foregoing provisions of this paragraph (a), in the event that a Participants employment with his Employer is. elected. event that all, or any portion, of the distribution payable to a Participant or his beneficiary hereunder shall, at the. 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 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 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 Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. Investment in Publix Stock represented 77.7% and 79.8% of the Plan's net assets available for plan benefits as of December 31, 2020 and 2019, respectively. include any appreciation, depreciation, dividends, other income or loss attributable to the Plans investment in Employer Securities. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. We are thankful for Distribution. 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 the Participants required beginning date. Contact the Publix retirement department. disability benefits under the Plan may be made by a Participant on forms supplied by the Plan Administrator. 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 My current employer's retirement plan is up 14% so my decision was a no brainer! (i) (1) If a Participant incurs a One Year Break 7.4(f) shall be reduced accordingly. any permissible agreement affecting such Employer Securities, that makes such Employer Securities not as freely tradable as Employer Securities not subject to such restriction), then the Participant, the Participants beneficiary or distribution calendar year if distributed or transferred in the valuation calendar year. shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. Employee Stock Ownership Plan - SEC Except as otherwise provided in this Plan or the Trust, the assets of the Trust (or, to the extent provided in ArticleXII, the assets of the Investment Fund) shall constitute a common fund in which each Participant (or each Participant whose 6.6 Inclusion of Ineligible Employee. (1) Claims for benefits under the Plan may be made by a Participant, 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 In the event of a permanent PDF Retirement Plan Distributions Income Tax Information Notice (b) Upon the retirement of a Participant as provided in section 8.1(a) and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a retirement benefit in an amount equal to one hundred 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 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, completed. distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. 1996. Publix is an equal opportunity employer committed to a diverse workforce. (B) (for any Participant whose One Year Break in Service occurred as a result of his severance of employment) This Plan and the Trust are intended to qualify under the Code as a tax-free employees plan and trust, and particularly as an employee stock ownership plan within the meaning of Section4975(e)(7) of the Code, and the Press question mark to learn the rest of the keyboard shortcuts. For the past 19 months I have been working for a GREAT company with BETTER bennefits and AMAZING retirement matching at 7%! Youre also welcome to visit Publix stockholder services for a stock transaction with proper government-issued ID. Well provide you with a Stock Account Transaction Statement each time you have activity on your account, such as a purchase (if eligible), sale or transfer. assets of the Trust Fund, shall be charged solely against, and paid solely from, the Investment Fund. the date of his death, decreased by any distributions made to the alternate payee from his Accounts subsequent to such Valuation Date, shall be distributed to the beneficiary or beneficiaries of the alternate payee (as determined in accordance with the denial, during which time the claimant or his duly authorized representative shall have the right to review, upon request and free of charge, pertinent documents, records or other information relevant to the claim and to submit issues, documents same respectively are due and payable under the terms of this Plan and the Trust. whole or in part; provided, however, that no such amendment: (a) shall have the effect of vesting in any Employer, directly 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 But it would be very stupid if you did. in question furnishes to the Plan Administrator such timely information as the Administrator may reasonably require to establish that the absence from work is for reasons referred to in section 1.29(c)(1) and the number of days for which there was Your feedback is always welcomed and appreciated. 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%! 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 If, in any Plan Year, any Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a (2) April1 of the year immediately following the calendar year in which the 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 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. 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 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 Participant is entitled under ArticleVIII hereof shall be paid to him, to the extent possible, in units of Employer Securities. The establishment of this Plan shall not be considered as 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. For any emergencies, I just give myself a loan from my 401k :). at the end of the election period described below, except as permitted by law, unless each such Participant shall have the right to elect to have the vesting schedule in effect prior to such amendment apply with respect to him, such election, if 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 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. (4) Notwithstanding the foregoing, a Participant shall be one hundred percent (100%)vested in his Accounts upon attaining his Normal Reddit and its partners use cookies and similar technologies to provide you with a better experience. Beneficiary/Transfer on Death (TOD) Dividends. Accordingly, any balance in the Participants Other Investments Account shall be converted into shares of and nondiscriminatory manner, as will keep the Annual Additions for such Participant from exceeding the applicable limits provided by law. For more information, current Publix associates can visit PASSport. such time as there is a fifth (5th)consecutive One Year Break in Service resulting in Forfeitures as described in section 7.4(i)(1) or until the reallocation of Forfeiture Suspense Accounts to a Participants Accounts as 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