(b) Within ninety (90)days after the close of the second, third, fourth and fifth Plan Years PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within forty-five Section 403(b) or governmental Code Section 457 plan. date when the Participant either had not incurred a One Year Break in Service or was eligible to resume participation in the Plan under section 5.3, the Vested Interest in the Accounts of the Participant shall be a percentage of the balance of such substantially equal periodic payments (not less frequently than annually) made, (1) for the life (or life expectancy) of the 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 in making the adverse determination and will be provided to the claimant free of charge upon request, if the adverse determination is based on a medical necessity or experimental treatment or similar exclusion or limit, an explanation of the 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 12.1 Employee Stock Ownership Trust. 14.3 Termination of Plan. Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities 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. 1.19 (3) The hours treated as Hours of Service under this section 1.29(c) shall be credited only in the consecutive 12-month period beginning with the Employees Anniversary Date in which the absence from work begins, 1.8 Any such put option shall be exercised by the holder notifying the Company in writing that the put option The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in Selling Stock. cornell application graduate; conflict of nations: world war 3 unblocked; stone's throw farm shelbyville, ky; words to describe a supermodel; navy board schedule fy22 by the Employee for an Employer or an Affiliate during the fifty-two (52). Section403(a) of the Code, a qualified trust described in Section401(a) of the Code, an annuity contract described in Section403(b) of the Code, or an eligible plan under Section457(b) of the Code that is maintained by a If the amount equal to the Participants Vested Interest, (2) in any other case, approximately five years from the date of the Participants 4.5 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 The Trust may from time to time be amended in the manner therein provided. of Employer Securities being withdrawn). 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. contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. end of the Plan Year coincident with or immediately following the date such fifth (5th)consecutive One Year Break in Service occurs. By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. Expenses of Administration of the Plan and the Trust Fund. Any extension notice must provide that the claimant has forty-five (45)days from receipt of the notice in which to 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. As you know, Publix is the largest employee owned supermarket in America. case may be, shall have the right to have the Company purchase such units at their Fair Market Value on the date the put option is exercised. Employer-paid welfare benefits. Be sure to follow the instructions on the printed form. 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 (4) Credit shall be given for Hours of Service under this section 1.29(c) solely for is legally incompetent, by age or otherwise, to receive such benefit, until either: (a) a legal guardian has been appointed The extension shall not exceed an additional forty-five (45)days. 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. For purposes of satisfying the three percent (3%)minimum contribution required under this section 7.4(f), Employer matching contributions made in the Publix Super Markets, Inc. 401(k) (ii) that portion of the income earned or (b) a Participants surviving Eligible Spouse who is entitled to death benefits year is the calendar year immediately preceding the calendar year which contains the Participants required beginning date. designates two or more beneficiaries, but fails to specify the portion that each beneficiary is to receive, they shall share equally. In addition, each such Employee shall be credited with forty Such notice shall also inform the holder of the terms of such put option (which terms shall be consistent with the provisions of this section 9.6). pursuant to the provisions of Article VII. 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. 15.4 Action by Employer. Notwithstanding the provisions of section 3.1, any contribution made by an Employer to this Plan by a mistake of fact may be returned to the Employer within one year after the (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to Forfeiture Suspense Accounts and Section415 Suspense Accounts described in section 7.4(c)(2) (for purposes of this section 7.4(f), such earnings shall be referred to as additional contributions), if any, with respect to the Plan But, the next time you travel to Florida, Georgia, Alabama, South Carolina, North Carolina, Tennessee, or Virginiamake sure you visit the store where shopping is a pleasure during your stay. 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. Thanks for actually answering the question rather than giving me the corporate line. A Participant who ceases to be an. 1.11 Direct Rollover shall mean a payment of an Eligible Rollover Distribution by the Plan to an Section8.4. (b) A person who has satisfied the eligibility requirements of this Article V 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. Create an account to follow your favorite communities and start taking part in conversations. include amounts realized from the exercise of a nonstatutory stock option (an option other than a statutory stock option as defined in Treasury Regulation Section1.421-1(b)) or when restricted stock or other property either becomes freely 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 substantial, the identity of such third party to be selected by the Plan Administrator. Amounts displayed are adjusted for the 5-for-1 stock split, effective April 14, 2022. Press J to jump to the feed. (c) For Limitation Years beginning before the employ of his Employer, no retirement benefits shall be payable to him, and he shall continue to be treated in all respects as a Participant. Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. 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). beneficiary for the distribution calendar year is the Participants surviving spouse, the quotient obtained by dividing the amount of the Participants Account balance by the number in the Joint and Last Survivor Table set forth in 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 I decided to quit Publix and roll EVERYTHING over. For purposes of Notwithstanding the foregoing sentence, Employer matching contributions that are used to satisfy the minimum contribution (2) Distribution calendar year shall refer to a calendar year for which a minimum distribution is required. This Plan and the Trust may not be merged or consolidated successor regulation or statute. maintained by such Employer or an Affiliate, including any elective contributions to any plan subject to Code Section401(k)) is less than three percent (3%)of each Key Employees Section415 Compensation, the sum of Employer Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at such time and D is the amount distributed as a severance of employment benefit. claim is expected to be made shall be furnished to the claimant prior to the end of the initial forty-five (45)day period. (B) an hour shall not be credited for a payment 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 In the event that the limits (c) Notwithstanding the foregoing, if the Participant is married for not less than one year as of the date of his death, the Participants surviving Eligible Spouse shall be deemed to be his designated 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 I worked at my store for 3 years as well and cashed out. partially, at any time without any liability whatsoever for such permanent discontinuance or complete or partial termination. Press J to jump to the feed. 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. 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. include any appreciation, depreciation, dividends, other income or loss attributable to the Plans investment in Employer Securities. Box 32040 Lakeland, Florida 33802-2040 Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311 Phone numbers Telephone: (863) 688-7407, ext. Employer or any Affiliate and the aggregate Annual Additions to such plans, under the normal administration of such plans, would otherwise exceed the limits provided by law, then the Plan Administrator shall take such actions, applied in a uniform 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 About Publix Publix FAQs Stockholder Selling Stock 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 Selling Stock FAQ How do I sell stock? and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. 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 The definition of significant natural disaster shall be determined at the discretion of the Administrator based on factors including, but The fastest and easiest way is to register for a Publix Stockholder Online account. 1.4 Anniversary Date 1.6 Board of Directors and Board shall mean the board of directors of the United States as a federal disaster area (the area) and/or to their personal vehicles that were damaged while in the area, in each case to the extent that such damage is not covered by individual insurance policies, and for which the References to a specific section of the Code shall include references to any successor provisions. 1.16 Accounts. satisfy a financial need if the Administrator reasonably relies upon the Participants representation that the need cannot be relieved, (a) through reimbursement or compensation by insurance or otherwise; or. 12.2 Investment Fund. That chump change could be worth 100 grand 30 years from now. Box 32040 Lakeland, Florida 33802-2040, Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311, Phone numbers Telephone: (863) 688-7407, ext. attributable to the Plan Year ending September30, 1990. Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from 4.4 Summary Plan Description. 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 Then suddendly in 2 years I had lost $9000, current stock price $36! Any I think they will withhold 20% for the IRS and the rest of the calculation/amount owed will need to be included in your next tax return. How and when you can take from 401 (k) is determined by the IRS. distribution. is adopted or the date the amendment is effective, except as permitted by law; (d) shall reduce the Accounts of any Employer, regardless of whether the Participant has incurred a One Year Break in Service on such date, upon such Participants Normal Retirement Date. We would like to show you a description here but the site won't allow us. hundred eighty (180)days after the application is filed with the Administrator; and, in the event that no action has been taken within such ninety (90)or one hundred eighty (180)day period, the claimant shall be permitted to Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at
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. and additional contributions unless: (1) such Participant has been credited with a Year of Service as of the date preceding Remember, as this is a retirement account you will pay a penalty to the IRS on top of any taxes due. Cashing out retirement should only be to avoid bankruptcy. Section408(a) of the Code or an individual retirement annuity described in Section408(b) of the Code. under the put option. Medallion Signature Guarantee. After payment of all expenses and proportional adjustments of individual accounts to reflect such expenses and other changes in the Back to Login Publix is an equal opportunity employer committed to a diverse workforce. (d) effective January1, 2008, an individual other than an Eligible Spouse who is the designated beneficiary of a deceased Participant and who is thus entitled to death benefits payable pursuant to this ArticleXI shall be: (a) converted to and payable in units of Employer Securities, rounded up to the nearest The Publix Super Markets, Inc. Employee Stock Ownership Trust, as it may be amended from time to time. Reddit and its partners use cookies and similar technologies to provide you with a better experience. WHEREAS, the Company has determined that it is advisable and in the best interests of the Participants to amend 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 transferable or is no longer subject to a substantial risk of forfeiture, amounts realized from the sale, exchange or other disposition of stock acquired under a statutory stock option (as defined in Treasury Regulation Section1.421-1(b)), and 1.15 Eligibility Date shall mean the Employees Anniversary (1) Employer Securities attributable to contributions by his Employer; (2) Forfeitures of Distribution. work for any period by reason of her pregnancy, by reason of the birth of a child of the Employee, by reason of the placement of a child with the Employee in connection with the adoption of such child by the Employee or for purposes of caring for 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 the Participant that the Participant has a right to a period of at least thirty (30)days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and 1.9 Company Stock 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 If such an extension is required because of special circumstances, written or electronic notice of the extension shall be furnished to the claimant prior to the commencement of the extension. 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 make the distribution to a natural guardian where applicable (e.g., Florida Statute Section744.301). under the terms of the Publix Super Markets, Inc. Profit Sharing Plan at the time of the merger of that plan with this Plan effective as of the close of business on December31, 1999. Another $2000 lost! Participants for that period who are entitled to share in the Employer contribution, Forfeitures, and additional contributions for such Plan Year; provided that a Participant shall not be entitled to share in the Employer contribution, Forfeitures, paragraph (a), in the event that a Participants employment with his Employer is terminated by reason of his death, he shall not become fully www.publix.com. 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. (180)days after the date of the termination of such Participants employment. Will I still have access to the stockholders site after Ive left Publix? 6.4 No Duty to Inquire. compensation, unemployment compensation or disability insurance laws; and. is hereby amended and restated in its entirety to read as follows: 1.1 NOW, THEREFORE, the Plan Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at
up to the entire amount of his Hardship request, to Employer Securities at its Fair Market Value on the date of the conversion as provided in this section, and then from his Company Stock Account; and. Be sure to follow the instructions on the form. (c) As of each Valuation Date, the Other Investments Account of each Participant credited with a portion The Administrator shall establish procedures consistent with 1.29(a)(5), as the case may be, and under this section1.29(a)(3). (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and adjustments thereto. maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. percentage allocated to the accounts of any Key Employee.