(2) in any other case, approximately five years from the date of the Participants 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 You will receive a check a few weeks after that. Any such consent to the designation beneficiary or all such beneficiaries shall predecease the Participant, then the Participants surviving Eligible Spouse, and if none, then the estate of such Participant shall be deemed to be the beneficiary designated to receive such death Plan Administrator. 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 The PROFIT (People Reaching Our Future Investing Together) Plan is our most popular program, and part of Mr. George's legacy. 12.2 Investment Fund. 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 This additional tax is commonly referred to as a penalty tax on ESOP . 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. 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 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. (e) effective January1, 2008, contributions allocated pursuant to Code Section415(l)(1) to any individual (c) For purposes of Article VIII and section 14.1(e), an Employees Years of Service 1.23 Fair Market Value shall mean, for purposes of the valuation of Employer Securities, the closing price (or, if there is no 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 What was your experience using your profit plan stock as a down payment. 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. January1, 2008, if as a result of the allocation of Forfeitures, a reasonable error in estimating a Participants Section415 Compensation, a reasonable error in determining the amount of elective deferrals that may be made to the of (a)the date payment of the Participants benefit commences or (b)the date of the Participants death. from time to time. 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 (f) shall increase the duties or 6.3 Participant Contributions Not Permitted. 1.34 Normal Retirement Date shall mean the date on which a Participant attains the age of sixty (60)years. 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 The Administrator shall have complete control over the administration of the Plan herein embodied, with all powers If you have reached retirement age you just pay normal taxes, but if you cash out before retirement age you will pay both taxes and penalties. or if other special circumstances require an extension. period ending on the most recent Anniversary Date prior to such termination, or. 4.2 Powers and Duties. (2) if the Participants sole designated 1.48 Valuation be determined for any Plan Year as of the last day of the immediately preceding Plan Year. shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. 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. costs due at closing for the purchase of a Participants primary residence. (c) payment of tuition, related In the event it becomes impossible for the Company, another Employer, the Plan Administrator, or the Trustee to perform any act required by this Plan, then the Company, such Employer, and the Plan from further liability on account thereof. permitted under the Employee Plans Compliance Resolution System maintained by the Internal Revenue Service. legally entitled to receive such benefit on behalf of the Participant or beneficiary and payment to such person will discharge the Plans obligation to the Participant or beneficiary. Publix Stockholder Resources | Tools for Publix Shareholders 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. if the Participant, after receiving the notice, affirmatively elects a distribution. Plan Administrator in matters within its jurisdiction shall be final, binding and conclusive upon each Employer and each Employee, Participant and beneficiary and every other interested or concerned person or party. 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 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 1.30 Investment Fund shall mean an investment fund established under section 12.2 and Such 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. of the Trust Fund attributable to the Investment Fund during such period; and. beneficiary and shall receive the full amount of the death benefit attributable to the Participant unless the Eligible Spouse consents or has consented to the Participants designation of another beneficiary. You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. Publix Profit Plan (Types, Cash Out, Retire, Taxes) amount of his benefit shall commence to be paid to the Participant not later than sixty (60)days after the last day of the Plan Year in which the Participant reaches his 62nd birthday. Yes, contact the stockholder services team. The definition set forth in the foregoing sections 1.29(a)(1) through (3)is subject to the special rules contained in Department of Labor Regulations Sections 2530.200b-2(b) and (c), and any regulations amending or superseding such For more information, please see our 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. The Trustee shall have no right or duty to inquire into the amount of any contribution made by an Employer or the 10.5 Prior Rule. Create an account to follow your favorite communities and start taking part in conversations. Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. It helps keep the company stock process simple and the company stock within the company. 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 section 15.2(a), the Plan Administrator shall direct the Trustee to make payments pursuant to a Qualified Domestic Relations Order as defined in Section414(p) of the Code. Regular contributions are then made by the Employer, the Participant, or both. Section415 Suspense Accounts) and the share of such earnings attributable to a Participants Other Investments Account shall be determined as follows: (A) The earnings attributable to the Investment Fund for any Valuation Period shall consist of, (i) the aggregate of the unrealized appreciation or depreciation accruing to the portion 10.4 Minimum Distribution. Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section 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. 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. by the Employee for an Employer or an Affiliate during the fifty-two (52). Now Im resending a new package but I need the Publix documents again which are: Hardship withdrawal request form Election to sell form Financial hardship withdrawal affidavit, These were originally mailed to me but Ive already included them in my first incomplete mailing. (e) Notwithstanding the foregoing, benefit payments shall satisfy the incidental death (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and (a) a Participant who is entitled to benefits payable as a result of his retirement, disability or other severance of employment as (2) Distribution calendar year shall refer to a calendar year for which a minimum distribution is required. PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. 1.14 Effective Date of this amended and restated Publix Super Markets, Inc. 11.1 Hardship Withdrawals In General. of Employer Securities, the recipient of such distribution shall be deemed to have exercised the put option with respect to such fractional share at its Fair Market Value on the date the Participant is entitled to such distribution. quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. of its Board and a certified copy of such resolution shall be delivered to the Plan Administrator and the Trustee. In addition, each such Employee shall be credited with forty is there ANY way to sell ProfitPlan acquired stock : publix - reddit (c) In the event of the death of the Participant after distribution to the Participant has commenced, payment of the remaining amount of (b) If at any time the person owning or otherwise having the right to sell such Employer Fill it out and agree to sell all esop. (a) Except as otherwise required in the Trust, for purposes of all computations required by this ArticleVII, the accrual method of The fastest and easiest way is to register for a Publix Stockholder Online account. The Administrator shall determine whether a distribution is necessary to whole or in part; provided, however, that no such amendment: (a) shall have the effect of vesting in any Employer, directly 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. determining the average hours worked by a non-exempt, hourly-paid, part-time Employee for an Employer or an Affiliate during the fifty-two (52)week payroll period immediately preceding the unpaid period for which Hours of Service are being We also provide online answers to common questions for your convenience. The Company Stock Account of a Participant shall be debited for any payments made with For distributions beginning before the Participants death, the first distribution calendar 1.21 Employer Securities shall mean common stock, any other type of stock or any marketable obligation being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. 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. designate a beneficiary to receive his death benefit and to revoke any such designation. explanation of why such material or information is necessary, a description of the Plans claim review procedures, the time limits under those procedures, and a statement of the claimants right to bring a civil action under which such Employer Securities are listed, or if the Employer Securities are not listed on a securities exchange in the United States, the mean between the dealer closing bid and ask prices on the over-the-counter market as PROFIT Plan (employee stock ownership plan) account or 401 (k) SMART Plan account.