(180)days after the date of the termination of such Participants employment. 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 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 Back to Login this Plan. After payment of all expenses and proportional adjustments of individual accounts to reflect such expenses and other changes in the purchase must provide for adequate security, a reasonable interest rate and a payment schedule providing for cumulative payments at any time not less than the payments that would be made if made in substantially equal annual installments beginning (3) The earnings attributable to Participants Other Investments Accounts shall not We also provide online answers to common questions for your convenience. on account of a period during which no duties are performed shall not be credited under this section 1.29(a)(2) to the Employee if such payment is made or due under a plan maintained solely for the purpose of complying with applicable workers distribution of the Participants Vested Interest in the Accounts may be made; provided, however, that such distribution may commence less than thirty (30)days after the provision of the notice if the Plan Administrator clearly informs If the Administrator approves a Hardship Eligible Retirement Plan shall mean an individual retirement account described in Section408(a) of the Code, an individual retirement annuity described in Section408(b) of the Code, an annuity plan described in 1.40 Plan Year shall mean the 12-month period ending on each December31. the date of discontinuance specified in such resolutions shall, aside from becoming fully vested as provided in section 14.3, be held, administered and distributed by the Trustee in the manner provided under this Plan. the quotient obtained by dividing the amount of the Participants Account balance by the distribution period in the Uniform Lifetime Table set forth in Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants age as Cookie Notice (3) Employer Securities purchased, directly or indirectly, with the assets of the notice of extension is sent until the date of the claimants response to the request for additional information. 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 determined as of the last day of such Plan Year, and. 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 The Company Stock Account of a Participant shall be debited for any payments made with Period ending with such current Valuation Date that are received on Employer Securities allocated to his Company Stock Account. of an Employer, on his Eligibility Date. 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 Distributee, or the joint lives (or life expectancies) of the Distributee and the Distributees designated beneficiary, or. costs due at closing for the purchase of a Participants primary residence. 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 (b) once per Plan Year and once per purchase, payments (other than mortgage payments) up to a maximum of $10,000 directly related to the 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. It's a really bad idea to get in the habit of cashing out retirement accounts for a "quick cash infusion". (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as Except to the extent hereinafter provided in this section 9.6, except as provided in section 9.7, or except as otherwise required by applicable law, no such Employer Securities may be subject to a put, call or other option, or (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 being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. 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 Press question mark to learn the rest of the keyboard shortcuts. Plan. Shares held in a PROFIT Plan account cannot be sold through Publix Stockholder Online. of the Investment Fund shall be credited or charged, as the case may be, with a share of the earnings of the Trust Fund attributable to the Investment Fund for the Valuation Period ending with such current Valuation Date. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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 Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . him prior to his reemployment. time in the manner provided in the Trust. Regular contributions are then made by the Employer, the Participant, or both. permitted under the Employee Plans Compliance Resolution System maintained by the Internal Revenue Service. Stock Certificate. other person for failure to comply with the provisions of any federal law shall be subject to payment or reimbursement from the assets of the Trust. Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section 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 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. Commissioner. Such values shall death, but in no event later than December31 of the calendar year containing the fifth anniversary of the Participants death. Participants Accounts subsequent to such Valuation Date. 7.7 Limitation on Allocation of Contributions. The Administrator shall notify the claimant in writing or in electronic form of the And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. 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. 1.19 to the Publix Super Markets, Inc. 401(k) SMART Plan) would cause the limitations set forth in this section 7.7 to be exceeded, the excess amount shall be held unallocated in the Section415 Suspense Account for the Plan Year and reallocated (c) For Limitation Years beginning before Employer Securities from such Account for the purchase, directly or indirectly, of assets other than Employer Securities. 14.3 Termination of Plan. Then log in to Publix Stockholder Online > Account Tools > Sell Stock and follow the on-screen process to complete and print the required form. 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 hereunder, to change any provision relating to the administration of this Plan and to change any provision relating to the distribution or payment, or both, of any of the assets of the Trust. (b) In the event of the death of the Participant before distribution to the Participant has been made or commenced and the death benefit If the Participant Be sure to follow the instructions on the printed form. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Thank you for any help. Your feedback is always welcomed and appreciated. Then log in to Publix Stockholder Online > Account Tools > Beneficiary Change and follow the on-screen process to complete and print the required form. death, increased by the amount of contributions, if any, made by his Employer to, and decreased by any distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. 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 was in same boat a looong time ago.now its worth 7 figures.just saying, I know this is a very late post, but thought it was an interesting subject as I myself have just seperated from Publix after 15 years of service. (d) Notwithstanding the other provisions of this Plan, in the event that an alternate payee under a Qualified Domestic Relations Order, as ArticleX, the Participants Company Stock Account shall be charged with the amount of the Employer Securities that are distributed during the Valuation Period ending with the current Valuation Date. The extension shall not exceed an additional forty-five (45)days. in which the Participant was domiciled at the time of his death shall be deemed to be the beneficiary or beneficiaries to receive such death benefit. This Plan is made as a retirement plan, where the employees send 10% of their monthly salary to an investment account, and after their retirement, they get to withdraw the money. It is the present intention of the Company to maintain the Plan set forth herein indefinitely. For its services, any corporate Trustee shall be entitled to receive reasonable compensation in accordance with its rate schedule in effect from time to time for the handling of a retirement trust. Remember, as this is a retirement account you will pay a penalty to the IRS on top of any taxes due. 10.5 Prior Rule. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. 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 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 distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants and spouses attained ages as of the Participants and spouses birthdays in the distribution calendar year. The identity of any medical or vocational experts who provided portion of the balance to the credit of a Distributee, other than: (a) any distribution that is one of a series of Company or, when required by the context, the board of directors of an Employer other than the Company. Will I still have access to the stockholders site after Ive left Publix? Quoted active market prices are used to value shares of mutual funds. (2) If a claim is denied, a claimant or his duly authorized representative shall have sixty (60)days after the receipt of such denial to petition the Plan Administrator in writing for a full and fair review of Publix offers employees /associates ownership through a profit-sharing plan. It shall be the duty of the Administrator to direct the Trustee with regard to the distribution of the benefits 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. 1.17 Eligible Rollover Distribution shall mean any distribution of all or any Publix Stockholder Online. Participants Other Investments Account. (or alleged violation) of part 4 of subtitle B of title I of ERISA, or, (C) pursuant to a settlement agreement between the By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. 6.6 Inclusion of Ineligible Employee. You are going to blow through this money so fast. provided in this section 9.6, the holder of any such put option shall have the right to put such Employer Securities to a third party that has substantial net worth at the time the loan is made and whose net worth is reasonably expected to remain The put option shall provide that, for a period of fifteen (15)months after such shares are distributed, the Participant, the Participants What was your experience using your profit plan stock as a down payment. Has anyone ever done this? 1.14 Effective Date of this amended and restated Publix Super Markets, Inc. 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. (d) The determination of the Plan Administrator, or named fiduciary, under this section 4.10 of any factual matter relating to a claimant We are thankful for
with Hours of Service pro-rata based on 40 hours for a full payroll period (one week), and non-exempt, hourly-paid, part-time Employees shall be credited with Hours of Service pro-rata based on a full payroll period equal to the average hours worked Employer; (c) a nonresident alien who does not receive earned income from sources within the United States; and. 1.15 Eligibility Date shall mean the Employees Anniversary (1) Employer Securities attributable to contributions by his Employer; (2) Forfeitures of Notwithstanding the preceding, (A) an hour for which an Employee is directly or indirectly paid, or entitled to payment, Employee Stock Ownership Plan, commonly known as the Publix PROFIT Participants Company Stock Account and/or Other Investments Account established pursuant to section 7.2 with respect to Employer contributions made pursuant to ArticleVI, and shall include amounts credited to the account of a Participant 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). You will also receive notification of changes made to your online account, asking you to contact us if you did not request the change. 3.4 Qualified (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 11.1 Hardship Withdrawals In General. be determined for any Plan Year as of the last day of the immediately preceding Plan Year. 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 Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from The Administrator shall have complete control over the administration of the Plan herein embodied, with all powers in the Diversification Election Period, such a Participant may elect to receive a distribution of shares of Employer Securities in an amount equal to the difference between, (1) twenty-five percent (25%)of the portion of the balance of his Company Stock Account attributable to Employer Securities, Publix 401(k) SMART Plan. 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 and who are directly affected by the natural disaster to request Hardship withdrawals from their Vested Interests in their Accounts for the expenses to repair damages to their primary residences located in an area designated by the President of the The Administrator may appoint such accountants, counsel payment by the Company or an Employer shall not be deemed a contribution to this Plan. As you know, Publix is the largest employee owned supermarket in America. before a total distribution of his benefit occurs, the Participant shall not be entitled to any severance of employment benefits (or, in the case of installment distributions that have already commenced, any further severance of employment benefits) That chump change could be worth 100 grand 30 years from now. 10.1 Diversification Distributions. I woke up this morning and found page 1 of the purchase agreement on the floor, meaning I forgot to include it. The definition of significant natural disaster shall be determined at the discretion of the Administrator based on factors including, but in Service, then the Forfeitable Interests of the Participant in his Accounts, determined as of the Valuation Date immediately preceding the date of his One Year Break in Service, shall be placed in Forfeiture Suspense Accounts at the end of the Talk to any financial planner and they'll tell you this is a terrible idea. Do your research, think out your investments, and certainly don't trust someone who would unethically post under the impression that they work in finance and tell you anything to the contrary. 15.7 Veterans Reemployment Rights. with an amount that shall bear the same ratio to the earnings attributable to the Investment Fund as the average monthly balance in such Participants Other Investments Account during the Valuation Period ending with the current Valuation Date 1.43 Top Heavy Plan shall mean this Plan if the aggregate account balances (not including voluntary rollover contributions made by any Participant from an unrelated plan) of the Key Employees prevent a decision on the claim, and, where a claim is incomplete, the additional information needed to resolve those issues. 7.3 Interest of Participant. 14.1, the Company shall have the power to amend this Plan in any manner that it deems desirable, and, not in limitation but in amplification of the foregoing, it shall have the right to change or modify the method of allocation of contributions 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. by the Employee for an Employer or an Affiliate during the fifty-two (52). The establishment of this Plan shall not be considered as giving any Employee, or any other person, any (a) Notwithstanding anything contained in this Plan to the contrary, the aggregate Annual Additions to a Participants Accounts under To the extent permitted Notwithstanding the foregoing provisions of this paragraph (a), in the event that a Participants employment with his Employer is. EMPLOYEE STOCK OWNERSHIP PLAN.. We want to make sure you have the most up to date information at your fingertips. 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