4.11 Appointment of Advisors. 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 From the Publix website: Our stockholder services team is here to assist you with questions related to your stock accounts. 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 decision shall be evidenced by an appropriate resolution of its Board and a certified copy of such resolution shall be delivered to the Plan Administrator and the Trustee. Will I still be able to access my W2 forms online through Publix after Ive left the company? But it would be very stupid if you did. Employer-paid welfare benefits. pursuant to a Qualified Domestic Relations Order as defined in Section414(p) of the Code shall be entitled to receive payment of such benefits at the time specified in such order, whether or not the Participant has attained his earliest The Administrator shall determine For purposes of determining each Participants share of the Employer contribution, Forfeitures and additional contributions for the Plan Year ending (d) For all purposes of this Plan, an Employees Years of Service shall include the following: (1) for persons employed in stores acquired by the Company from Kroger Company on or after November7, 1988, and before Due to legal requirements that prevent us from accepting digital signatures, we often require the printed form with your original signature and date. Unless you need the money now (really, really, need it that is) let it sit to supplements your retirement. (a) In the event an Employer decides to terminate this Plan and the Trust, such decision shall be evidenced by an appropriate resolution 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. Notwithstanding the preceding provisions of this section. Investments Accounts in accordance with the terms of section 9.2 and the Trust. An Eligible Spouses consent shall be a For purposes of this section Right now Publix is poised to take on Wegmans in a region they're very much unprepared for. 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. 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. 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 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. The Plan Administrator shall not accept any Participant contributions. Plan. 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 for one or more Plan Years, the change from being a Top Heavy Plan shall be treated as if it were an amendment to the Plans vesting schedule for purposes of sections 14.1(c) and (e). 15.3 Governing Law. Payment of Dividends. Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section The Administrator shall establish procedures consistent with WHEREAS, the Company has previously adopted the Publix Super Markets, Inc. What was your experience using your profit plan stock as a down payment. percent (100%)of the Participants Section415 Compensation for such Limitation Year. Stock Certificate. (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 distribution calendar year if distributed or transferred in the valuation calendar year. Any such put option shall be exercised by the holder notifying the Company in writing that the put option 5.1 Current Participants. is practicable at the offices of the purchaser. mean, with respect to each Limitation Year beginning after December31, 1986, the sum of: (a) the amount of Employer 1996. 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. After 6 months of employment you are eligible to join the 401k and are allowed to contribute up to 10% of your pay to the plan. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in You also can elect to receive account statements electronically by managing your online delivery preferences on Publix Stockholder Online. Section415 Suspense Accounts) and the share of such earnings attributable to a Participants Other Investments Account shall be determined as follows: (A) The earnings attributable to the Investment Fund for any Valuation Period shall consist of, (i) the aggregate of the unrealized appreciation or depreciation accruing to the portion period occurs in a single Plan Year); and, provided further, that if the Employee, solely by virtue of receiving such long-term disability benefits, would otherwise be entitled to Hours of Service under section 1.29(a)(2) for such absence, the provided for by the Plan are to be paid or are to be funded. Amendment and Restatement and Name of the Plan, The Companys employee stock Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities 11.3 Availability. in the Plan. (B) an hour shall not be credited for a payment This Plan shall be administered, construed, and enforced according to the laws of the State of Florida, except to the extent such laws have been expressly preempted by federal law. (b) Unless the Participant shall mean the date on which an Employee first had an Hour of Service (or, except as otherwise provided in Department of Labor Regulation Section2530.200b-4(b), first had an Hour of Service following a One Year Break in Service which occurred What is the difference between the 401k Smart Plan and the Profit Plan 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 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. (a) a Participant who is entitled to benefits payable as a result of his retirement, disability or other severance of employment as You can access all stock accounts on Publix Stockholder Online except for IRA and Publix 401(k) SMART Plan accounts. (a) Notwithstanding anything contained in this Plan to the contrary, the aggregate Annual Additions to a Participants Accounts under alternate payee or a deceased beneficiary of a Participant on forms supplied by the Plan Administrator. 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 Throughout this Plan, and whenever appropriate, the masculine gender shall be deemed to include the feminine and neuter; the singular, the plural; and vice versa. (b) Within ninety (90)days after the close of the second, third, fourth and fifth Plan Years Talk to any financial planner and they'll tell you this is a terrible idea. whereabouts of such Participant or his beneficiary despite the reasonable effort of the Administrator to locate such Participant or his beneficiary, the amount so distributable shall be treated as a Forfeiture pursuant to the Plan. (a) expenses of uninsured medical Notwithstanding the foregoing provisions of this paragraph (a), in the event that a Participants employment with his Employer is. 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. All such procedures shall be applied in a consistent nondiscriminatory manner. (d) The determination of the Plan Administrator, or named fiduciary, under this section 4.10 of any factual matter relating to a claimant The Trustee may maintain an Investment Fund, which shall In the event that In determining You also can visit Publix stockholder services at the corporate office to sell your Publix stock. Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . Hardship withdrawals permitted pursuant to On-screen instructions on Publix Stockholder Online provide additional details. retirement age (within the meaning of Section414(p)(4)(B) of the Code). terms offered by the proposed purchaser (other than the Company or the Plan), making a good faith offer to purchase the security. to exercise the right of first refusal. For the record, I've already fully thought out taking the penalty for cashing out early, and not just holding onto the stocks. In the event an Employer decides to permanently discontinue making contributions, such 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. By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . 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 (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and I know you aren't here for advice on whether or not household do it. The amount, if any, contributed by an (b) a Participants surviving Eligible Spouse who is entitled to death benefits Notwithstanding the foregoing, in the Plan Year in which a (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 Account. Participant is entitled under ArticleVIII hereof shall be paid to him, to the extent possible, in units of Employer Securities. Forms for Publix Stockholders: Direct Deposit, Address Change (b) For purposes of ArticleV and section 7.4, a Year of Service is not completed until the end of each consecutive 12-month period without regard to when during the period that 1,000 Hours of Service are 1.31 Key Employee shall mean any Employee or former Employee (including any deceased Employee) of an Employer or an Affiliate Publix Profit Plan (Types, Cash Out, Retire, Taxes) 12.2 Investment Fund. Accordingly, any balance in the Participants Other Investments Account shall be converted into shares of provisions thereof. 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 claim is expected to be made shall be furnished to the claimant prior to the end of the initial forty-five (45)day period. 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 this Plan) and all plans of an Employer or an Affiliate in which a Key Employee participates; and such term may include (at the discretion of the Plan Administrator) any other retirement plan qualified under Section401(a) of the Code that is (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to 11.1 Hardship Withdrawals In General. The Other Investments Account of a Participant shall be debited for any payments made with the assets of such Account for the purchase, directly or indirectly, of Employer Securities, and such Account shall be 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). designated beneficiary in accordance with Section401(a)(9) of the Code and the applicable Treasury regulations issued with respect thereto. Payment of the purchase price shall be made by the Company, at the election of the Company, either in cash within thirty (30)days after the date of exercise or by an installment purchase. 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 or indirectly, any interest, ownership or control in any of the present or subsequent funds held subject to the terms of the Trust; (b) shall cause or permit any property held subject to the terms of the Trust to be diverted to purposes other than the exclusive benefit of the Participants and their beneficiaries or for the administrative expenses of the Plan (4) Notwithstanding the foregoing, a Participant shall be one hundred percent (100%)vested in his Accounts upon attaining his Normal Key Takeaways. Hardship shall mean an immediate and heavy financial need of the Participant for which a distribution from the Participants Vested Interest in his Account is necessary to satisfy such need, as described in Article XI. suspense accounts. Questions about Profit Plan : r/publix - reddit.com Employees may . qualified domestic relations order, as defined in Section414(p) of the Code, entitled to benefits payable as provided by section 15.2(b), and. Thank you for any help. 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 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 Reddit and its partners use cookies and similar technologies to provide you with a better experience. Mailing address Publix Super Markets, Inc. Retirement Department P.O. The initial forty-five (45)day period may be extended twice by thirty (30)days 401 (k) is pre-tax contribution to a deferred tax account. Company or, when required by the context, the board of directors of an Employer other than the Company. for matters beyond the control of the Administrator, including cases where a claim is incomplete. Any and all expenses (including, Participant is not otherwise compensated or reimbursed for the expenses arising from such damage. 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? is being exercised; the date of exercise shall be the date the Company receives such written notice (which, if received prior to the date of distribution, shall not be deemed to be received until such time as the date the stock is distributed to the If such notice is given after the tenth (10th)day after the date such Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in Either way the return on investment that the Publix cult likes to imply, without officially stating, is a pipe dream. 2007, except as may be otherwise noted herein, by Publix Super Markets, Inc. (the Company). 1.50 (a) Year of Service shall mean each of the consecutive 12-month periods beginning with the Employees Anniversary purposes of determining whether a One Year Break in Service has occurred for participation or vesting purposes; credit shall not be given hereunder for any other purposes (including, without limitation, benefit accrual). the distribution calendar year that includes the Participants date of death. 15.6 Gender. 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
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