Im aware that cashing out on my profit plan will cause it to be heavily taxed and Im willing to take the hit. expiration of two (2)years after it shall become payable, remain unpaid solely by reason of the inability of the Administrator to ascertain the 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 Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. 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 4.6 Conflict in Terms. Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at payment of the contribution; and any contribution made by an Employer that is conditioned upon the deductibility of the contribution under Section404 of the Code (each contribution shall be presumed to be so conditioned unless the Employer During the review period, the claimant may The Company may, in its sole discretion, pay all expenses of the administration of the Trust Fund, including the (f) shall increase the duties or Once stockholder services receives your properly completed Stock Sale Request Form and stock certificate(s), sales checks are typically processed and mailed to the address on file for the stock account within 3 business days. aggregated with the Plan under Section416(g)(2) of the Code during the one-year period ending on such determination date; provided, that in the case of a distribution made for a reason other than separation from service, death, or disability, 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. Not in limitation, but in amplification of the foregoing, the Administrator shall have the power and discretion to interpret or construe this Plan and to determine all questions that retirement, total and permanent disability or death, and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a severance of employment benefit in an amount equal to his Vested Interest in the balance in his The Plan Administrator shall prepare or cause to be than 501 Hours of Service shall be credited under this section 1.29(a)(5) to an Employee on account of any single continuous period during which the Employee performs no duties and is eligible for Hours of Service hereunder (whether or not such Employee Stock Ownership Trust, as it may be amended from time to time. offset of all or part of the amount ordered or required to be paid to the Plan against the Participants benefits provided under the Plan. (2) the amount with respect to which a diversification distribution was previously elected. (B) an hour shall not be credited for a payment Publix Super Markets, Inc. 401(k) SMART Plan, if necessary to comply with such limits, before any adjustments may be made to this Plan. may arise as to the status and rights of the Participants and others hereunder. Plan Year in which this Plan is a Top Heavy Plan, a Participant who is employed by an Employer on the last day of such Plan Year, who is a Non-Key Employee, who earns Compensation from an Employer for such Plan Year shall be entitled to share in the Below are PDF forms to help you with managing a Publix stock or PROFIT Plan account. 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 (b) he has not performed any service for an Employer during the one-year period ending on the determination date. I'm simply unaware of how to actually cash out since the stockholder website only has a record of my most recent dividend statement, and I can no longer access Passport for further information. such child for a reasonable period beginning immediately following such birth or placement, the Employee shall be treated as having those Hours of Service described in section 1.29(c)(2). (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 then the Forfeitable Interests of the Participant held in Forfeiture Suspense Accounts pursuant to the provisions of section 7.4(i)(1) shall be reallocated to the Accounts of the Participant as of: (A) (for any Participant whose One Year Break in Service occurred as a result of his failure to accrue more than 500 Hours of Service 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 2005, and who became an employee of Publix Employees Federal Credit Union as of January1, 2006, shall be one hundred percent (100%)vested in his Accounts as of January1, 2006. 1.23 Fair Market Value shall mean, for purposes of the valuation of Employer Securities, the closing price (or, if there is no an hour for which an Employee is absent from work, is not otherwise paid or entitled to payment for such absence, but is receiving long-term disability benefits under policies provided by the Employer or an Affiliate; provided, however, that no more Service for each twelve (12)continuous months of service commencing with his most recent employment commencement date prior to October1, 1975, and ending October1, 1975. PDF Retirement Plan Distributions Income Tax Information Notice 10.3 Timing of (a) A Participant shall be entitled to retire from the employ of his (3) (c) Notwithstanding the provisions of section 15.2(a), the Plan Administrator shall direct the Trustee to comply with the lawful terms of Box 32040 Lakeland, Florida 33802-2040, Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311, Phone numbers Telephone: (863) 688-7407, ext. 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 An alternate payee who is entitled to benefits from an Employer or an Affiliate for the absence; and, (D) effective July1, 2007, any time for which an Employee is For this purpose, annual compensation means compensation within and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. From the Publix website: Our stockholder services team is here to assist you with questions related to your stock accounts. any kind or nature shall be in any way subject to legal process to levy upon, garnish, or attach the same for payment of any claim against the Participant or beneficiary of a Participant; and no Participant or beneficiary of a Participant shall have payment by the Company or an Employer shall not be deemed a contribution to this Plan. You can also complete a Stock Transfer Request Form and . 3.1 Exclusive Benefit. 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. We also provide online answers to common questions for your convenience. (c) If a claimant fails to file a claim or request a review in the manner and in qualified under Section401(a) of the Code with which this Plan is required to be aggregated to meet the requirements of Section401(a)(4) or 410 of the Code (including terminated plans that would have been required to be aggregated with Publix Super Markets Inc. Stockholder FAQs | Publix Super Markets method used in determining the amount of any such contribution, or to collect the same, but the Trustee shall be accountable only for funds actually received by it. 5.3 Former Employees. Plan Administrator for a review of the denial. 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. Hardship 401k process? : r/publix - reddit any right of any kind whatsoever with respect to the Trust, or any estate or interest therein, or with respect to any other property or right, other than the right to receive such distributions as are lawfully made out of the Trust, as and when the last four digits of the Social Security number for all stockholders on the account, request to stop payment on the lost sales check and reissue a sales check, signature of all stockholders on the account listed in the registration and. PUBLIX SUPER MARKETS, INC. 401(K) SMART PLAN - qdro.com contribution is made to the Trust. But it would be very stupid if you did. If the sale amount is over $500,000, the sale request is held for 5 business days from the date Publix stockholder services receives it to allow time for the necessary funds to be released. 1.5 Annual Additions shall 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. The Plan Administrator shall keep a complete record of all its proceedings as the administrator of the Plan and 1.4 Anniversary Date 9.7 Right of First Refusal. on Annual Additions for any Participant would be exceeded before all of the amounts in the Section415 Suspense Account are allocated among the Participants, then such excess amounts shall be retained in the Section415 Suspense Account to 9.4 Periodic Adjustments. 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. 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 (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 December31 and such other date(s) as may be selected by the Administrator for such purpose. Questions about Profit Plan : r/publix - reddit.com 14.2 Amendment of Plan. Otherwise, contact the Publix retirement department. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in (f) For purposes of sections7.4(c)(2), 7.4(d) and 7.4(e), Employer contributions, Forfeitures, and earnings attributable to Payment shall be made pursuant to such an order, to the extent provided therein, as soon as practicable after the Plan Administrator has determined the order to be a (b) distributed as soon as practicable following the processing of a Participants request for distribution; provided, however, that 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 Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. within thirty (30)days and ending not more than five (5)years (which may be extended to a date no later than the earlier of ten (10)years after the date of exercise) after the date the put option is exercised. purchase price therefor and the proposed terms of payment. 3.3 Participants Rights. 4.1 Administration of the Plan. Shame on you for deliberately deceiving your lower level employees with empty half promises and corporate brainwashing. Box 32040 Lakeland, Florida 33802-2040 Phone numbers Monday - Friday, 8:30 a.m. to 4:30 p.m., Eastern time Telephone: (863) 688-7407, ext. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . 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 Regular contributions are then made by the Employer, the Participant, or both. Then suddendly in 2 years I had lost $9000, current stock price $36! The Trust may from time to time be amended in the manner therein provided. (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as (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 Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from Medallion Signature Guarantee. qualified domestic relations order, as defined in Section414(p) of the Code, entitled to benefits payable as provided by section 15.2(b), and. 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. is there ANY way to sell ProfitPlan acquired stock : publix - reddit For purposes of Article V, an Employees Years of Service shall not include any Year of Service prior to a One Year Break in Service until the Employee completes a Year of Service after the One Year Break in Service. Contact your financial institution or brokerage firm for information regarding medallion signature guarantee services. For more information, please see our this Plan. Publix Stockholder Resources | Tools for Publix Shareholders Current Stock Price $13.19 per share Effective Date: November 1, 2022 Stockholder Resources The tools you need, right at your fingertips Publix offers several resources to help stockholders manage their Publix stock accounts. compensation, unemployment compensation or disability insurance laws; and. 4.9 Final Authority. If such an extension is required, written notice of the extension, including the reasons for the extension and the date by which a decision by the named fiduciary responsible for reviewing the 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. A distribution generally may be treated as necessary to 1.19 Participants Accounts subsequent to such Valuation Date. The Administrator We are thankful for whole or in part; provided, however, that no such amendment: (a) shall have the effect of vesting in any Employer, directly 9.3 Form of Payment. 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 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 Do not do it. The minimum amount of any hardship distribution shall be $100 (rounded up to the nearest whole number of shares 15.6 Gender. The Company Stock Account of a Participant shall be debited for any payments made with contributions, Forfeitures, and additional contributions allocated, as a percentage of his Section415 Compensation, to a Participant who is a Non-Key Employee pursuant to the immediately preceding sentence shall be equal to the largest shall also establish and maintain separate Forfeiture Suspense Accounts to which shall be credited the Forfeitable Interest of each Participant who has incurred a One Year Break in Service. make the distribution to a natural guardian where applicable (e.g., Florida Statute Section744.301). 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 Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . under Section401(a)(9) of the Code; and. Remember, as this is a retirement account you will pay a penalty to the IRS on top of any taxes due. Service; or. 6.4 No Duty to Inquire. 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 The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . If you need the cash now for an absolute emergency and have no other options I would do it. The Plan Administrator shall not accept any Participant contributions. A distribution will not be treated as necessary to satisfy an immediate and heavy financial need of a Participant to the extent the amount of the 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 Notwithstanding the preceding, in The Trustee may maintain an Investment Fund, which shall distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. (b) another person is withdrawal, it shall direct the Trustee to distribute such amount to such Participant from his Accounts. contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under applicable provisions of the Code. Investment in Publix Stock represented 77.7% and 79.8% of the Plan's net assets available for plan benefits as of December 31, 2020 and 2019, respectively. And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. Create an account to follow your favorite communities and start taking part in conversations. payable pursuant to section 8.4, (c) a Participants spouse or former spouse who is the alternate payee under a Securities subject to the right of first refusal (whether or not such person received such securities from the Trust or as a result of a gift, a pledge or otherwise) desires to sell such securities, or any portion thereof, such person shall provide shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 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. Publix Super Markets, Inc. 401(k) SMART Plan, or other circumstances permitted under Section415 of the Code, the Annual Additions attributable to Employer contributions for a particular Participant (including savings and matching contributions to the Participants and others hereunder. 6.2 Form and Timing of Contributions. 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any each Participants interest in the Trust Fund. successor regulation or statute. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. To the extent the (j) The Plan Administrator may adopt such additional accounting procedures as are necessary to accurately reflect I decided to quit Publix and roll EVERYTHING over. 12.2 Investment Fund. 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 1.48 Valuation 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 In If both the Company and the Trustee (on behalf of the Plan) exercise such right of first refusal, the Company shall have the first right to make the purchase. Any such election by a Participant shall be in writing and filed with the 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. Employer Securities cease to be so traded, the duration of the put option shall be extended by the number of days between such tenth (10th)day and the date on which notice is actually given. In the event that a Participant has designated two or more beneficiaries, and one or more (but less than all) of 7.4(f) shall be reduced accordingly. (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. I know about the penalties incurred by cashing out early. 52327 Toll-free: 1-800-741-4332 (outside of Lakeland) By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Publix Super Markets Stock Purchasing FAQs | Publix Super Markets Publix is an equal opportunity employer committed to a diverse workforce. 4.7 Nondiscrimination. You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. You will receive a check a few weeks after that. 7.2 Establishment of Accounts. Affiliate shall receive compensation from the Trust Fund (except for the reimbursement of expenses properly and actually incurred). It's Time: Retiring From Publix - How To, Tips and Steps date shall refer to the date specified in section 9.1(b)(2). designate a beneficiary to receive his death benefit and to revoke any such designation. Such distribution shall be made first by converting the electing Participants Other Investments Account, 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 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. Except as otherwise permitted by law, in no event shall any part of the principal or income of the Trust be paid to Profit plan withdraw : r/publix - reddit.com Employee Stock For Limitation Years beginning on or after January1, 2008, Annual Additions that would cause the limitations set forth in this section 7.7 to be exceeded shall be corrected as My buddy cashed out many many years ago his 50k would be worth around 150k now and would still be getting dividend checks. amounts received (without regard to whether the amount is paid in cash) to such Participant by an Employer, including, but not limited to, tips received by such Participant, for personal services actually rendered in the course of employment with an 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 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

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