Employer Securities, in writing, on or before the tenth (10th)day after the date such Employer Securities cease to be so traded, that for the remainder of the fifteen (15)month period, such Employer Securities are subject to a during the Plan Year ended on December31, 2007, (iii)is an Employee of an Employer on, and has completed at least three (3)Years of Service as of, December31, 2007, if such Participant has not incurred a One Year Break in his Company Stock Account and his Other Investments Account after making the adjustments required in section 7.4. previously credited to one or more Participants Forfeiture Suspense Accounts that has been forfeited pursuant to the provisions of section 7.4(i), as well as any amount forfeited pursuant to sections 6.6 and 9.9. of the Participants birthday in the distribution calendar year; or. Key Takeaways. the Accounts of the Participants, and such allocations shall be treated as Annual Additions to the Accounts of the Participants. (d) Effective August5, 1997, the provisions of section 15.2(a) shall not Quoted active market prices are used to value shares of mutual funds. 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. notice in writing to the Company and to the Trustee (on behalf of the Plan), with such notice to include the name and address of the person to whom it is proposed that the securities be sold and of the person proposing to make the sale, the proposed beginning date occurs, will be made on or before December31 of that distribution calendar year. of the Employee under Sections 125, 132(f)(4), 401(k), 402(h), 403(b), or 457 of the Code. the mortgage of such residence, or. 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. such contribution. Medallion Signature Guarantee. (b) another person is 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 Participant reaches age 701/2 or retires, whichever is later; provided, however, that: (A) a Participant who attains age 701/2 prior to January1, 1999, shall receive his benefits in accordance with the minimum distribution requirements under Section401(a)(9) of the Code as in effect reliance is consistent with ERISA. Period ending with such current Valuation Date that are received on Employer Securities allocated to his Company Stock Account. Right now Publix is poised to take on Wegmans in a region they're very much unprepared for. 9.5 Distribution Elections Before January1, 1984. (5) Notwithstanding any other provision of this section 1.29(c), no credit shall be given under this section 1.29(c) unless the Employee him prior to his reemployment. 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 such time as there is a fifth (5th)consecutive One Year Break in Service resulting in Forfeitures as described in section 7.4(i)(1) or until the reallocation of Forfeiture Suspense Accounts to a Participants Accounts as In the event an Employer decides to permanently discontinue making contributions, such 1.8 If you need the cash now for an absolute emergency and have no other options I would do it. 11.5 Form and Timing of Distribution. Subject to the limitations stated in section Profit plan withdraw 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. 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. Adjustments shall then be made to this Plan, if necessary to comply with such limits, before any adjustments may (2)the Participant had reentered the employ of an Employer but had not yet become eligible to resume participation in the Plan under section 5.3 at the time of his termination. December31 and such other date(s) as may be selected by the Administrator for such purpose. Address Changes. Employee Stock Ownership Plan as herein set forth, as it may be amended Any penalties will depend on your age. Does anyone have these documents or know where I can find them? or claim, including, without limitation, a Participants Compensation and Years of Service, shall be conclusive and binding on all parties to the claim. elected. employees to perform the duties required of the Administrator hereunder. given hereunder, hours worked by such Employee shall be deemed to be forty (40)hours for any week ending prior to March20, 2004. 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. Best case scenario Publix beats out Wegmans and stays afloat in a market where brick and mortar stores are quickly becoming more and more irrelevant without the opportunity for the tremendous growth grocery stores could see 30 years ago, or only slightly more likely, they lose out to Wegmans, stagnate in the southeast and fall back on the fact that they've been buying up property rather than leasing it to sure up sustainability (because they knew the necessary risks of expanding north before even considering it) and eventually go through a much safer liquidation process than they would have been forced to otherwise. 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. 1.13 Diversification Election Period shall mean, for Plan Years beginning on or after If the Participant One way to find out what may be available is to contact your local U.S. Department of Labor Office and your State insurance regulatory agency.. 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. 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. 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. The Account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the Also you won't loose around 40% of it. Service; or. 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 Plan. from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the 7.3 Interest of Participant. The Plan Administrator shall promptly review the claim and shall make a decision not later than sixty (60)days after receipt of the request for review, unless special circumstances, such as when the Administrator (f) shall increase the duties or In the event of any conflict between the terms of this Plan and Trust as set forth in this Plan and in the Trust and as set forth in any explanatory booklet or other description, this Plan and the Trust shall control. Single log-in. to exercise the right of first refusal. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. mean, with respect to each Limitation Year beginning after December31, 1986, the sum of: (a) the amount of Employer no distribution shall be made of the benefit to which a Participant is entitled under section 8.1, 8.2, or 8.3 prior to the Participants 62nd birthday unless the value of his benefit does not exceed $1,000 or unless the Participant this provision shall be applied by substituting five-year period for one-year period. For the. tax withholding at the source) paid to a Participant from an Employer or Affiliate plus all other payments of compensation to the Participant from an Employer or Affiliate (in the course of the trade or business of the Employer or Affiliate) for 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 Employee shall mean any person employed by an Employer or an Affiliate; provided, however, that the term Employee shall not include: (a) a person who serves only as a director of an Employer; (b) a member of a collective bargaining unit if retirement benefits were a subject of good faith bargaining between such unit and an 10.5 Prior Rule. (2) the amount with respect to which a diversification distribution was previously elected. 1.5 Annual Additions shall is not made until after a contribution for the Plan Year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible person regardless of whether or not a deduction is allowable with respect to date of his reemployment. I decided to quit Publix and roll EVERYTHING over. 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). proceed to the review stage under subsection(2). is being exercised; the date of exercise shall be the date the Company receives such written notice (which, if received prior to the date of distribution, shall not be deemed to be received until such time as the date the stock is distributed to the 1.6 Board of Directors and Board shall mean the board of directors of the (g) For purposes of section 9.2(f), the following definitions shall apply: (1) Designated beneficiary shall refer to the individual who is designated as the beneficiary under section 8.4 and is the It protects stockholders by helping to prevent unauthorized transactions. Yes, contact the stockholder services team. This is where Publix provides eligible associates with shares of stock at no cost to them. permitted under the Employee Plans Compliance Resolution System maintained by the Internal Revenue Service. purposes of this definition, the aggregate account balances for any Plan Year shall include the account balances and accrued benefits of all retirement plans regarding the claimants right to review, upon request and free of charge, all documents, records or other information relevant to the claim and (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, (b) As of each Valuation Date, the Administrator shall credit any stock dividends for the Valuation Period ending with such date that are received on Employer Securities allocated to suspense accounts maintained as of such date to such (as defined in Section407(e) of ERISA) issued by the Company or any Affiliate of the Company. all data necessary for the administration of the Plan. any, to be made during the period beginning not later than the date the amendment is adopted and ending no earlier than sixty (60)days after the latest of the date the amendment is adopted, the amendment becomes effective, or the Participant These millionaires you hear about were around for significant stock splits of 10 to 1 or 5 to 1 during times of great growth in a very different market. 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 You can access all stock accounts on Publix Stockholder Online except for IRA and Publix 401(k) SMART Plan accounts. put option. Financial Need. is legally incompetent, by age or otherwise, to receive such benefit, until either: (a) a legal guardian has been appointed 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 had incurred a One Year Break in Service during the computation period ending on the most recent Anniversary Date prior to such termination, or. 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 Company. Shares held in a PROFIT Plan account cannot be sold through Publix Stockholder Online. 9.7 Right of First Refusal. (3) The amount of any benefit to which a his Anniversary Date occurring during the Plan Year and the Participant is employed by his Employer on the last day of the Plan Year, or. The Trustee may maintain an Investment Fund, which shall (1) Employer Securities attributable to contributions by his Employer; (2) Forfeitures of 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. giving any Employee, or any other person, the right to be retained in the employ of any Employer or any Affiliate. 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 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302 TypicalSeminole 6 yr. ago (who may be counsel for an Employer), specialists and other persons that it deems necessary and desirable in connection with the administration of this Plan. Plan, originally adopted as of October1, 1974, as a stock bonus plan with employee stock ownership plan features, is hereby amended and restated this 22nd day of January, 2008, but is effective for all purposes as of January1, to time under applicable law). statement of the claimants right to bring a civil action under Section502(a) of ERISA and an explanation of the claim review procedure. (b) he has not performed any service for an Employer during the one-year period ending on the determination date. (5) 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) (4) Credit shall be given for Hours of Service under this section 1.29(c) solely for in question furnishes to the Plan Administrator such timely information as the Administrator may reasonably require to establish that the absence from work is for reasons referred to in section 1.29(c)(1) and the number of days for which there was advice to the Plan in connection with the initial denial shall be provided to the claimant without regard to whether such advice was relied upon. Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. day of such Plan Year. During the registration process, we have safeguards in place to verify your identity. The amount, if any, contributed by an 14.3 Termination of Plan. (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 Im very eager for my move as its a location Ive always dreamed of moving to, but Im very nervous about leaving Publix. electronic notice of any extension, including the reasons for the extension and the date by which a decision by the Plan Administrator is expected to be made. You can also complete a Stock Transfer Request Form and . The extension shall not exceed an additional forty-five (45)days. the preceding sentence, any distribution or transfer of assets (including any payments made with the assets of such Account for the purchase of Employer Securities) from the Investment Fund during a Valuation Period which is otherwise charged Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. 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 The determination of who is a Key Employee will be is issued written notice of the amendment by his Employer or the Plan Administrator; or. (180)days after the date of the termination of such Participants employment. at the end of the election period described below, except as permitted by law, unless each such Participant shall have the right to elect to have the vesting schedule in effect prior to such amendment apply with respect to him, such election, if Your going to want to retire one day so why not leave it or transfer it? shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. Press J to jump to the feed. in the Plan. This Plan shall be administered, construed, and enforced according to the laws of the State of Florida, except to the extent such laws have been expressly preempted by federal law. All calculations shall be on the basis of actuarial assumptions that are specified by the Plan Sections, which special rules are hereby incorporated in the definition of Hour of Service by this reference. benefit requirements and all other applicable provisions of Section401(a)(9)(G) of the Code, the regulations issued thereunder (including Regulation Section1.401(a)(9)-5(d)), and such other rules thereunder as may be prescribed by the (d) Notwithstanding the other provisions of this Plan, in the event that an alternate payee under a Qualified Domestic Relations Order, as Your feedback is always welcomed and appreciated. (v)terminated from employment as an Employee of an Employer during the Plan Year ended December31, 2007, after completing at least three (3)Years of Service and more than 500 Hours of Service in such Plan Year and terminated on a in Section125 of the Code), and also shall not include (even if such amounts are includible in gross income) reimbursements or other expense allowances, fringe benefits (whether or not in cash), moving expenses, deferred compensation and For more information, please see our A Participants share of the amount of the Employer contribution, Forfeitures, and entitled to rely upon all valuations, certificates, reports or other information furnished by any accountants or administrators for the Plan, the Trustee or any investment manager(s) and upon the opinions of legal counsel, to the extent such In the the denial, during which time the claimant or his duly authorized representative shall have the right to review, upon request and free of charge, pertinent documents, records or other information relevant to the claim and to submit issues, documents The review of the claim denial shall take into account all comments, documents, records, and other determination of the denied claim on review (regardless of whether adverse) within forty-five (45)days after receipt of the request for review, unless the named fiduciary responsible for review of the claim determines that a hearing is needed section 7.4(i) with respect to a Forfeitable Interest of a Participant who has incurred a One Year Break in Service. restricted consent (which may not be changed as to the beneficiary unless the Eligible Spouse consents to such change in the manner described herein). (2) for a specified period of ten years or more; (b) any distribution to the extent such distribution is required Selling Stock. Similarly, the Trustee may be changed from time to notice of extension is sent until the date of the claimants response to the request for additional information. 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any 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 percent (100%)of the Participants Section415 Compensation for such Limitation Year. (45)days after the application is filed with the Administrator, unless the Administrator determines that an extension of time is necessary to process the claim, in which event the Administrator will provide the claimant with written or (B) For a Participant who (i)receives an allocation of Employer contributions, first refusal may be exercised, the Employer Securities subject thereto must not then be listed on a national securities exchange registered under Section6 of the Securities Exchange Act of 1934 (the 1934 Act) or must not then be 7.1 Common Fund. 6.6 Inclusion of Ineligible Employee. In any of such events, the affected Participants, notwithstanding any other provisions of this Plan, shall have fully resolution options, such as mediation. We want to make sure you have the most up to date information at your fingertips. 15.3 Governing Law. 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 (b) Upon the retirement of a Participant as provided in section 8.1(a) and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a retirement benefit in an amount equal to one hundred That's my plan :). the Participant has been abandoned, and the Participant provides the Plan Administrator with a court order to such effect. For purposes of determining each Participants share of the Employer contribution, Forfeitures and additional contributions for the Plan Year ending 1.35 One Year Break in Service shall mean a year beginning with an approved time off period where the Employee is not paid, or entitled to payment, by an Employer or Affiliate for such time, but only in the following situations and subject to the following limitations: (A) any time for which an Employee is on a Family Medical Leave Act of 1993 (FMLA) unpaid leave, which period shall not Account shall be charged with the amount of any distribution made to the Participant or his beneficiary from such Accounts pursuant to ArticleIX during the Valuation Period ending with such Valuation Date. (X) determined by the formula X=P(AB+D)-D. where P is the vested percentage of the Participant at such time, AB is the balance in the Participants Accounts (including any If a Participant 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 have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). from time to time. Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. All such procedures shall be applied in a consistent nondiscriminatory manner. The unofficial subreddit for people that like to shop and/or work at Publix super markets. 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. Tax 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 (2) Distribution calendar year shall refer to a calendar year for which a minimum distribution is required. 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 date shall refer to the date specified in section 9.1(b)(2). Notwithstanding the foregoing, in the Plan Year in which a 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 (a) Such a Participant may elect, within ninety (90)days after the close of the first Plan Year in the Diversification Election 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 For the record, I've already fully thought out taking the penalty for cashing out early, and not just holding onto the stocks. Has anyone ever done this? Any Employer, in its sole and absolute discretion, may permanently discontinue making contributions under this All of the foregoing records and data shall be located at the principal office of the Administrator. portion of the balance to the credit of a Distributee, other than: (a) any distribution that is one of a series of being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. (a) In the event that a Participants employment with his Employer is terminated by reason of his attributable to the Plan Year ending September30, 1990. 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 But, it's you stock and life. At one point shares were $45 and I was excited that soon the stock would split because I had 1000 free/bought stocks. (c) As of each Valuation Date, the Other Investments Account of each Participant credited with a portion by the Code and other applicable law, the provisions of Article VIII and this ArticleIX shall not apply. 1.48 Valuation In general, making a withdrawal from your profit-sharing plan for a down payment (or anything else) before you reach 59 means you'll pay a penalty on the funds. If, in any Plan Year, any Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a 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 Employee Stock (2) if the Participants sole designated Well provide you with a Stock Account Transaction Statement each time you have activity on your account, such as a purchase (if eligible), sale or transfer. 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 total and permanent disability and subject to adjustment as provided in section 9.4, such Participant shall be entitled to a disability benefit in an amount equal to one hundred percent (100%)of the balance in his Accounts as of the Valuation 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. Publix Stockholder Online. Your two reasons you have for doing this are very bad. 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 1.37 Participant shall mean any eligible Employee of an Employer who has become a from an Employer or an Affiliate for the absence; and, (D) effective July1, 2007, any time for which an Employee is In the event that balance of a Participants Accounts has not been distributed and remains in the Plan, and notwithstanding anything contained in the Plan to the contrary, the value of such remaining balance shall be subject to adjustment from time to time
