substantial, the identity of such third party to be selected by the Plan Administrator. All such Vested Interests shall be nonforfeitable. Section 403(b) or governmental Code Section 457 plan. have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). Publix Stockholder Online. In such event, the amount contributed with respect to the ineligible person shall constitute a Forfeiture for the Plan Year in which the discovery is made. 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 Does anyone have these documents or know where I can find them? 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. and additional contributions unless: (1) such Participant has been credited with a Year of Service as of the date preceding of the Employee under Sections 125, 132(f)(4), 401(k), 402(h), 403(b), or 457 of the Code. 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. Distribution under this section 14.5 to an Eligible Retirement Plan in accordance with the provisions of section 9.2(d) instead of distributing such amount to the Participant. 1996. Where the time period for the notice of denial of a claim is extended because additional information is needed, the period during which the Administrator must render a decision shall stop running from the time the Protecting stockholder data is a top priority for Publix. be made to any other plan maintained by any Employer or any Affiliate. purchase price therefor and the proposed terms of payment. Any penalties will depend on your age. 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 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. 9.10 Qualified Domestic Relations Order. (45)days after the application is filed with the Administrator, unless the Administrator determines that an extension of time is necessary to process the claim, in which event the Administrator will provide the claimant with written or Such payments may be made by a contributing Employer at any time, but payment of the contribution for any Plan Year shall be completed on or entitled to rely upon all valuations, certificates, reports or other information furnished by any accountants or administrators for the Plan, the Trustee or any investment manager(s) and upon the opinions of legal counsel, to the extent such If the value of the sale or transfer is less than $10,000, you can provide copies of government-issued IDs for all stockholders registered on the account instead of a medallion signature guarantee. Cash dividends paid with respect to units of Employer Securities that are credited to Participants Company Stock Accounts may be distributed to Participants or allocated to Participants Other Service or is eligible to resume participation in the Plan under section 5.3, (iv)terminated from employment as an Employee of an Employer during the Plan Year ended December31, 2007, after completing at least two (2)Years of Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). (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, (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to before the time prescribed by law, including extensions thereof, for filing such Employers federal income tax return for its taxable year with which or within which such Plan Year ends. Notwithstanding the foregoing provisions of this. (d) Except as otherwise balance or contribution that is not the Participants Vested Interest. Service; or. I'd be really grateful to anyone who could explain the process to me. 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. www.publix.com. 9.7 Right of First Refusal. 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? The review of the claim denial shall take into account all comments, documents, records, and other (c) If the Company or the Trustee exercises the right of first refusal, the purchase of the shares shall take place as soon thereafter as (whether or not incorporated) under common control, within the meaning of Section414(c) of the Code, with such Employer; any service organization other 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 The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . In the event of any conflict between the terms of this Plan and Trust as set forth in this Plan and in the Trust and as set forth in any explanatory booklet or other description, this Plan and the Trust shall control. (b) he has not performed any service for an Employer during the one-year period ending on the determination date. Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. 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 simply don't have faith that they won't further decline in value. Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from 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 Typically, when you cash out money from a 401 (k) plan before you turn 59 1/2 years old, the IRS imposes an extra 10 percent tax penalty -- on top of ordinary income taxes -- on the taxable portion of your withdrawal. If a Participant The profit sharing plan is funded with year end bonuses. 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. payable pursuant to section 8.4, (c) a Participants spouse or former spouse who is the alternate payee under a Employer; (c) a nonresident alien who does not receive earned income from sources within the United States; and. Cashing out retirement should only be to avoid bankruptcy. 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. 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. by the Distributee in a Direct Rollover. 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 Review of a denied claim for disability benefits shall be, conducted by an appropriate named fiduciary who is neither the party who made the initial adverse determination, nor the subordinate of such party, and no Who can view my stock account on Publix Stockholder Online? (b) Within ninety (90)days after the close of the second, third, fourth and fifth Plan Years purposes of this definition, the aggregate account balances for any Plan Year shall include the account balances and accrued benefits of all retirement plans reported by the National Association of Securities Dealers Automated Quotation System (NASDAQ), or NASDAQs successor, or if not reported on NASDAQ, the fair market value of the securities as determined in good faith and based on resolution options, such as mediation. An Eligible Spouses consent shall be a Contact your financial institution or brokerage firm for information regarding medallion signature guarantee services. deference will be given to the initial denial. helping Participants and other interested parties to comply with the provisions of Section16 of the Securities Exchange Act of 1934, as amended, and any regulations issued thereunder. In the event that a Distributee elects to have only a portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan, the portion must not be less than $500 (as adjusted from time time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), bereavement, lay-off, jury duty, military duty or leave of absence. For the past 19 months I have been working for a GREAT company with BETTER bennefits and AMAZING retirement matching at 7%! (i) (1) If a Participant incurs a One Year Break the Participant has been abandoned, and the Participant provides the Plan Administrator with a court order to such effect. By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. 14.1 Restrictions on Amendment and Termination of the paragraph (a), in the event that a Participants employment with his Employer is terminated by reason of his death, he shall not become fully distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. October1, 1987, the period of six (6)Plan Years beginning with the Plan Year after the first Plan Year during which the Participant has attained the age of fifty-five (55)years and has completed ten (10)years of participation 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. (a) Such a Participant may elect, within ninety (90)days after the close of the first Plan Year in the Diversification Election For distributions beginning before the Participants death, the first distribution calendar (5) Notwithstanding the foregoing, a Participant who was an Employee of the Company on December31, is legally incompetent, by age or otherwise, to receive such benefit, until either: (a) a legal guardian has been appointed In the event that a Participant does not consent to a distribution of a benefit in excess of $1,000 to which he is entitled under section 8.1, 8.2, or 8.3, the Many financial solutions. Then log in to Publix Stockholder Online > Account Tools > Sell Stock and follow the on-screen process to complete and print the required form. 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 Publix 401(k) SMART Plan Skip to Main Content Skip to Footer Publix 401(k) SMART Plan Session Timeout. 1.4 Anniversary Date In general, making a withdrawal from your profit-sharing plan for a down payment (or anything else) before you reach 59 means you'll pay a penalty on the funds. (b) any former Employee who separated from service (or was deemed to have separated from service) prior to the Plan Year and performs no receipt of the request for review. disability benefits under the Plan may be made by a Participant on forms supplied by the Plan Administrator. 4.1 Administration of the Plan. Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the 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 Participant; (e) shall amend any vesting schedule with respect to any Participant who has at least three Years of Service Notwithstanding the preceding, in with respect to any Plan Year, no Compensation paid by an Employer with respect to an Employee prior to the Employees first day of participation in the Plan shall be taken into account. PROFIT Plan (employee stock ownership plan) account or 401 (k) SMART Plan account. 4.11 Appointment of Advisors. This Plan is created for the sole purpose of providing benefits to the Will I still have access to the stockholders site after Ive left Publix? date shall refer to the date specified in section 9.1(b)(2). Nevertheless, it is your own financial future. In addition, each such Employee shall be credited with forty The Profit Plan is a qualified retirement plan under IRS rules and you must follow those rules. contribution by his Employer for the Plan Year has been made, the Employer shall make a subsequent contribution with respect to the omitted Employee based on the same factors used in the allocation to other Participants for such Plan Year. 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 The Company and/or the Trustee shall have fourteen (14)days from the giving of such notice within which to give notice in writing to the person proposing to make the sale of the desire while employed by an Affiliate and who becomes an Employee of an Employer shall enter the Plan as a Participant on the date of his employment with such Employer. 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 (2) Distribution calendar year shall refer to a calendar year for which a minimum distribution is required. Plan or may terminate this Plan and the. Eligible Retirement Plan specified by the Distributee. 1.5 Annual Additions shall is unable to determine Hours of Service for a non-exempt, hourly-paid, part-time Employee, such Employee shall be credited with Hours of Service pro-rata based on forty (40)hours for a full payroll period. Thanks Publix for the awesome subs, soup, and blue collar work experience. for such Participant. whether such termination is the result of retirement, death, disability or severance of employment) and the Participant has a Vested Interest in the balance of his Account as of his date of termination. Press question mark to learn the rest of the keyboard shortcuts. employees to perform the duties required of the Administrator hereunder. 1.22 ERISA 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. 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 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, 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. (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 the portion of the balance of his Company Stock Account attributable to Employer Securities, determined as of the last day of such Plan Year, and. I worked at my store for 3 years as well and cashed out. This additional tax is commonly referred to as a penalty tax on ESOP . (d) any individual categorized by his Employer as an independent contractor or leased The fastest and easiest way is to register for a Publix Stockholder Online account. portion of the balance to the credit of a Distributee, other than: (a) any distribution that is one of a series of 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. Publix offers employees /associates ownership through a profit-sharing plan. applicable, a copy of any internal rule, guideline, protocol, or similar criterion that was relied upon in making the adverse determination on the claim, or a statement that an internal rule, guideline, protocol or similar criterion was relied upon Plan. (c) If a claimant fails to file a claim or request a review in the manner and in The establishment of this Plan shall not be considered as giving any Employee, or any other person, any under the put option. Due to legal requirements that prevent us from accepting digital signatures, we often require the printed form with your original signature and date. 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 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 3.3 Participants Rights. 1.34 Normal Retirement Date shall mean the date on which a Participant attains the age of sixty (60)years. (3) If any such Employer Securities are publicly traded without restriction when distributed, but cease to be so traded within fifteen (15)months after distribution, the Company shall notify each holder of such Fill it out and agree to sell all esop. (b) Subject to the provisions of section 8.4(c), at any time and from time to time, each Participant shall have the unrestricted right to 401 (k) is pre-tax contribution to a deferred tax account. being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. You'll be prompted to create your Publix Stockholder Online account with a user ID and password and choose your preferred security verification method text or voice call to log in to your Publix Stockholder Online account. by a national securities association registered under Section15A(b) of the 1934 Act, or, if so listed or quoted, are then subject to a trading limitation (a restriction under any federal or state securities law, any regulation thereunder or 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 immediately prior to January1, 1997, unless he elects in writing to cease receiving such benefits and instead elects to defer commencement of such benefits until his actual retirement; (B) a Participant who attains age 701/2 on or after January1, 1999, may elect to begin receiving his benefits in accordance with the minimum distribution requirements under Section401(a)(9) of the 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 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 Best case scenario Publix beats out Wegmans and stays afloat in a market where brick and mortar stores are quickly becoming more and more irrelevant without the opportunity for the tremendous growth grocery stores could see 30 years ago, or only slightly more likely, they lose out to Wegmans, stagnate in the southeast and fall back on the fact that they've been buying up property rather than leasing it to sure up sustainability (because they knew the necessary risks of expanding north before even considering it) and eventually go through a much safer liquidation process than they would have been forced to otherwise. 1.50 (a) Year of Service shall mean each of the consecutive 12-month periods beginning with the Employees Anniversary I woke up this morning and found page 1 of the purchase agreement on the floor, meaning I forgot to include it. Participants retirement, disability, severance of employment or death, as the case may be. 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. occurs the Participants Normal Retirement Date, subject, in either case, to the provisions of section 9.1(c); or. 1.2 Administrator shall mean the Plan Administrator. Then suddendly in 2 years I had lost $9000, current stock price $36! The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . Employer-paid welfare benefits. Forfeitures and additional contributions for any Plan Year beginning after December31, 2006, (ii)is an Employee of an Employer on December31, 2007, had completed two (2)Years of Service and at least 1,000 Hours of Service 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. 1.10 (a) Compensation shall mean, with respect to a Participant, the wages, salaries, fees for professional services, and other The Publix 401k is administered by an outside investment company, Voya. As with any online account involving financial or personal information, its critical you take steps to ensure the security of your stock account and personal information to reduce the risk of fraud and loss. Publix is an equal opportunity employer committed to a diverse workforce. as a result of his prior termination of employment; provided, however, that nothing contained herein shall require or permit the Participant to return or otherwise have restored to his Accounts any Employer Securities or other funds distributed to 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
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