with, and the assets or liabilities of this Plan and the Trust may not be transferred to, any other plan or trust unless each Participant would receive a benefit immediately after the merger, consolidation or transfer, if the plan and trust then 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 any act, it shall be done and performed by or at the direction of the Board of Directors of the Company or such other Employer (or the Executive Committee as authorized by the Board) and shall be evidenced by proper resolution of such Board of 1.38 Plan shall mean the Publix Super Markets, Inc. 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. (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 The Administrator shall notify each Employee, in writing, as to the existence of the Plan and Trust and the basic described in section 7.4(i)(2), the amount equal to a Participants Vested Interest in his Accounts (including the Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at any time shall be equal to an amount 1.22 ERISA (e) Notwithstanding the foregoing, benefit payments shall satisfy the incidental death to the distribution of any portion of the balance of a Participants Accounts that is subject to a designation made by a Participant prior to Notwithstanding the foregoing, if the law of the applicable state permits distribution to a natural guardian of the child, then the Plan Administrator is authorized to Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. 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). Except as otherwise permitted by law, in no event shall any part of the principal or income of the Trust be paid to (Our apologies!) I just mailed the hardship forms over to Publix to start the withdrawal process out of a profit plan to cover some of the closing costs. payment by the Company or an Employer shall not be deemed a contribution to this Plan. The Plan the date of such termination: (1)the Participant had incurred a One Year Break in Service during the computation (b) A person who has satisfied the eligibility requirements of this Article V contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. 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 (c) Notwithstanding the foregoing, However, if the Employer contributions, Forfeitures, and additional contributions allocated to each Key Employees Account hereunder (as well as his Employer contribution accounts under any other defined contribution 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. 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. apply to any offset of a Participants benefits provided under the Plan against an amount that the Participant is ordered or required to pay to the Plan if: (1) the order or requirement to pay arises: (A) under a judgment of conviction for a crime involving the Plan, (B) under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection with a violation using a strong and unique password for your online account such as, using letters, numbers and special characters, avoiding common or easy-to-guess words and letters and numbers in a sequence, not using repeated or reused passwords from other online accounts or sites, monitoring your Plan information, including your online account, and Plan account correspondence for transactions you did not authorize, keeping your contact information and communication preferences up to-date to ensure that you receive all Plan notices, being careful when using free Wi-Fi networks that impose security risks and. Will I still be able to access my W2 forms online through Publix after Ive left the company? whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. Notwithstanding the foregoing, any beneficiary whose benefits are subject to this paragraph (b)may make an irrevocable election to receive the death benefit at any time before the date of distribution described above. 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 Ownership Plan shall mean January1, 2007. Publix is an equal opportunity employer committed to a diverse workforce. For any emergencies, I just give myself a loan from my 401k :). (e) As of each Valuation Date, the Other Investments Account of a Participant shall be credited with his allocable share of, (1) Contributions by his Employer in a form other than Employer Securities (except for Employer contributions used to promptly purchase Employer Securities); and. The review of the claim denial shall take into account all comments, documents, records, and other 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. 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 (f) For purposes of sections7.4(c)(2), 7.4(d) and 7.4(e), Employer contributions, Forfeitures, and earnings attributable to 1.27 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. Then log in to Publix Stockholder Online > Account Tools > Beneficiary Change and follow the on-screen process to complete and print the required form. Any 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 exceeds $5,000, payment of the benefit shall be made: (1) in the Employees Anniversary Date in which an Employee has 500 or fewer Hours of Service, and it shall be deemed to occur on the last day of any such year. contributions (including elective contributions made in accordance with Section401(k) of the Code, other than amounts distributed as excess deferrals in accordance with Treasury Regulation Section1.402(g)-1(e)(2) or 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. provisions thereof. earnings for each Valuation Period during which it is in existence. 1.6 Board of Directors and Board shall mean the board of directors of the 5.1 Current Participants. Period shall mean the period beginning with the first day after a Valuation Date and ending with the next Valuation Date. Has anyone ever done this? (b) Within ninety (90)days after the close of the second, third, fourth and fifth Plan Years 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. Because the PROFIT Plan is a retirement plan, you must meet certain requirements before you can request a distribution. 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 permitted under the Employee Plans Compliance Resolution System maintained by the Internal Revenue Service. expenses of implementing this Plan and the Trust. Thanks Publix for the awesome subs, soup, and blue collar work experience. (i)the Account balance is increased by the amount of any contributions made and allocated or Forfeitures allocated to the Account balance as of dates in the valuation calendar year after the Valuation Date; and (ii)the Account balance is 1988, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; and. 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 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 1.2 Administrator shall mean the Plan Administrator. Participants Accounts and Allocation of Contributions. Whenever the Company or another Employer under the terms of this Plan is permitted or required to do or perform Notwithstanding any other provision of this Article X, no diversification distribution shall be made to any To the extent permitted had incurred a One Year Break in Service during the computation period ending on the most recent Anniversary Date prior to such termination, or. 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 termination of his employment, as follows: (3) If at any time this Plan ceases to be a Top Heavy Plan after being a Top Heavy Plan 1.13 Diversification Election Period shall mean, for Plan Years beginning on or after the mortgage of such residence, or. (c) The following special rules shall apply to any put option granted with respect to any such Employer Securities: (1) At the time that any such put option is exercised, the Plan shall have an option to assume the rights and obligations of the Company Roughly when will I receive the check from my cash out? determines in its sole discretion that it is appropriate to hold a hearing, require an extension of time for processing, in which event a decision shall be rendered as soon as possible, but not later than one hundred twenty (120)days after the Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . Employee Stock Ownership Plan, which has been amended is adopted or the date the amendment is effective, except as permitted by law; (d) shall reduce the Accounts of any 1.15 Eligibility Date shall mean the Employees Anniversary Create an account to follow your favorite communities and start taking part in conversations. 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 9.10 Qualified Domestic Relations Order. Mailing address Publix Super Markets, Inc. Retirement Department P.O. 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 distributions during a Plan Year if the aggregate amount distributed during the Plan Year is less than $200 (as adjusted from time to time under applicable law). consents to the distribution. Dumb idea. attributable to the Plan Year ending September30, 1990. Such expenses shall be paid out of the assets of the Trust Fund unless paid or provided for by the Company or another Employer. If youre a current Publix associate, if you no longer work for Publix but have a PROFIT Plan account or if youre a stockholder with a Publix stock account, youre eligible to register for a Publix Stockholder Online account. (d) Effective August5, 1997, the provisions of section 15.2(a) shall not 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. For the record, I've already fully thought out taking the penalty for cashing out early, and not just holding onto the stocks. Date immediately preceding or concurring with the date of the termination of his employment, increased by the amount of contributions, if any, made by his Employer to, and decreased by any distributions made to the Participant from, the A Participant who ceases to be an. The minimum amount of any hardship distribution shall be $100 (rounded up to the nearest whole number of shares This Plan is created for the sole purpose of providing benefits to the among the Participants as of the end of the next Plan Year to all of the Participants in the Plan in the same manner as an Employer contribution under the terms of sections 7.4(d) and 7.4(e) before any further Employer contributions are allocated to. 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. 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. Shares held in a PROFIT Plan account cannot be sold through Publix Stockholder Online. include any appreciation, depreciation, dividends, other income or loss attributable to the Plans investment in Employer Securities. (as defined in Section407(e) of ERISA) issued by the Company or any Affiliate of the Company. 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 PROFIT Plan (employee stock ownership plan) account or 401 (k) SMART Plan account. of any further benefit under this Article. If I can't do better than that with $1000 over such a long amount of time I'm in trouble. Each Employer may make a contribution to the Trust for each Plan Year. while continuing his employment) the Valuation Date coincident with or next following the last day of the twelve consecutive month period beginning with the Participants Anniversary Date during which he again accrues more than 500 Hours of five-percent owner of an Employer or nonparticipating Affiliate, or a one-percent owner of an Employer or nonparticipating Affiliate having annual compensation of more than $150,000. If you have an individual or joint account, the fastest and easiest way is to register for a Publix Stockholder Online account.

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