Has anyone ever done this? Notwithstanding any other provision of this Article X, no diversification distribution shall be made to any employees to perform the duties required of the Administrator hereunder. Payment of the purchase price shall be made by the Company, at the election of the Company, either in cash within thirty (30)days after the date of exercise or by an installment purchase. 15.1 Merger or Consolidation. 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. If the Participant In the event an Employer decides to permanently discontinue making contributions, such distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. The Profit Plan is a qualified retirement plan under IRS rules and you must follow those rules. (b) by reasonable 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. (2) if the Participants sole designated 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 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. 9.4 Periodic Adjustments. 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 You can access all stock accounts on Publix Stockholder Online except for IRA and Publix 401(k) SMART Plan accounts. Plan Administrator for a review of the denial. maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. (e) Notwithstanding the foregoing, to the extent a Participant receives a distribution under the Plan that consists of a fractional share 15.4 Action by Employer. such contribution. Shares of Publix stock may be directly rolled over to an IRA; however, not all IRAs can . assets of the Trust. 4.1 Administration of the Plan. Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. If the value of the sale or transfer is less than $10,000, you can provide copies of government-issued IDs for all stockholders registered on the account instead of a medallion signature guarantee. provide the specified information. claims related to total and permanent disability under section 8.2, the following procedures shall apply: (1) Claims for decreased by distributions made in the valuation calendar year after the Valuation Date. (whether or not incorporated) under common control, within the meaning of Section414(c) of the Code, with such Employer; any service organization other the Participant that the Participant has a right to a period of at least thirty (30)days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and 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 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. The Publix 401k is administered by an outside investment company, Voya. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. 15.7 Veterans Reemployment Rights. liabilities of the Trustee without its written consent. Press J to jump to the feed. Employer contribution, Forfeitures, and additional contributions to the extent such allocation does not exceed at least three percent (3%)of his Section415 Compensation regardless of whether such Plan Year constitutes a Year of Service 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. References to a specific section of the Code shall include references to any successor provisions. 4.2 Powers and Duties. (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 As with any online account involving financial or personal information, its critical you take steps to ensure the security of your stock account and personal information to reduce the risk of fraud and loss. 1.30 Investment Fund shall mean an investment fund established under section 12.2 and Then suddendly in 2 years I had lost $9000, current stock price $36! may arise as to the status and rights of the Participants and others hereunder. a levy of the Internal Revenue Service. fiduciary or any other person; and. requirement hereunder shall be treated as matching contributions for purposes of the actual contribution percentage test under the Publix Super Markets, Inc. 401(k) SMART Plan. Plan further; and. by the Employee for an Employer or an Affiliate during the fifty-two (52). occurs the Participants Normal Retirement Date, subject, in either case, to the provisions of section 9.1(c); or. Notwithstanding any provision of this Plan to the contrary, effective as of December12, (180)days after the date of the termination of such Participants employment. All Rights Reserved. In addition, each such Employee shall be credited with forty I guess we'll just both have to hope I don't "loose" it. (b) If any such Employer Securities, when (2) the amount with respect to which a diversification distribution was previously elected. (2) If a Participant whose Forfeitable Interests were placed in Forfeiture Suspense Accounts under section 7.4(i)(1) does not incur five (5)consecutive One Year Breaks in Service, successor statute. You can manage your PROFIT Plan dividend payment preference (if you want to use an account other than your primary account as shown in PASSport), manage online document delivery preferences and view tax documents in Publix Stockholder Online. EMPLOYEE STOCK OWNERSHIP PLAN.. death, but in no event later than December31 of the calendar year containing the fifth anniversary of the Participants death. payment by the Company or an Employer shall not be deemed a contribution to this Plan. Hardship withdrawals permitted pursuant to 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. Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within forty-five Notwithstanding anything contained herein to the contrary, no excise tax or other liability imposed upon the Trustee, the Plan Administrator or any simply don't have faith that they won't further decline in value. But it would be very stupid if you did. 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 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. 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. Regular contributions are then made by the Employer, the Participant, or both. 4.6 Conflict in Terms. Employer-paid welfare benefits. section 7.4(i) with respect to a Forfeitable Interest of a Participant who has incurred a One Year Break in Service. from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the 4.8 Records. Press J to jump to the feed. (5) of any further benefit under this Article. 1.50 (a) Year of Service shall mean each of the consecutive 12-month periods beginning with the Employees Anniversary and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. 1.6 Board of Directors and Board shall mean the board of directors of the (4) Required beginning Section 403(b) or governmental Code Section 457 plan. For this purpose, annual compensation means compensation within 1.19 Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at The Trust Fund shall be held notice of extension is sent until the date of the claimants response to the request for additional information. beneficiaries, the persons to whom such shares are transferred by gift from the Participant, or any person to whom such Employer Securities pass by reason of the death of the Participant or a beneficiary of the Participant, as the case may be, shall distributed from his Company Stock Account that is available for distribution as described in section 10.1. About Publix Publix FAQs Stockholder Selling Stock Stockholder Address Changes Beneficiary/Transfer on Death (TOD) Dividends Medallion Signature Guarantee Publix Stockholder Online Purchasing Stock Selling Stock Stock Certificate Tax Information Transfer Agent Transferring/Gifting Stock Selling Stock FAQ How do I sell stock? The Trustee shall have no right or duty to inquire into the amount of any contribution made by an Employer or the 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any 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, Company shall mean Publix Super Markets, Inc. and its successors. You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. 1.2 Administrator shall mean the Plan Administrator. 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. made in accordance with Section416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder. 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. 7.2 Establishment of Accounts. 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 Any notice of extension must explain to the claimant the standards on which entitlement to a disability benefit is based, the unresolved issues that Eligible Retirement Plan specified by the Distributee. of hours treated as Hours of Service under this section 1.29(c) by reason of any such pregnancy or placement shall not exceed 501 hours. 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. (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. Section401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution that is includible in gross income and the portion of such distribution that the first day of the Plan Year in which he completes a Year of Service after a One Year Break in Service. references to pertinent provisions of the Plan on which the denial is based, a description of the material information, if any, necessary for the claimant to perfect the claim, an explanation of why such material information is necessary, a Yes, youll receive an account statement when you sell stock. 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 7.4(c)(1)(B), each Participants average monthly balance in his Other Investments Account shall be equal to the portion of the Investment Fund credited to his Other Investments Account at the commencement of each calendar month. date of his reemployment. (ii) that portion of the income earned or Thanks Publix for the awesome subs, soup, and blue collar work experience. In determining The amount, if any, contributed by an 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 Section408(a) of the Code or an individual retirement annuity described in Section408(b) of the Code. (b) Notwithstanding the provisions of case may be, shall have the right to have the Company purchase such units at their Fair Market Value on the date the put option is exercised. 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 The Company and/or the Trustee shall have fourteen (14)days from the giving of such notice within which to give notice in writing to the person proposing to make the sale of the desire Throughout this Plan, and whenever appropriate, the masculine gender shall be deemed to include the feminine and neuter; the singular, the plural; and vice versa. be determined for any Plan Year as of the last day of the immediately preceding Plan Year. 4.11 Appointment of Advisors. Service; or. In the event that a Participant or beneficiary are located subsequent to the reallocation of the amount of the Forfeiture, the amount forfeited (without earnings or other adjustment) shall be immediately restored to the Accounts of the Participant or beneficiary, Section403(a) of the Code, a qualified trust described in Section401(a) of the Code, an annuity contract described in Section403(b) of the Code, or an eligible plan under Section457(b) of the Code that is maintained by a Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in 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. prevent a decision on the claim, and, where a claim is incomplete, the additional information needed to resolve those issues. 7.7 Limitation on Allocation of Contributions. 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 Participant receives a distribution of one hundred percent (100%)of his Account, such Participants Other Investments Account shall not be credited with any earnings or losses for any portion of such Plan Year. A distribution generally may be treated as necessary to 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 1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. 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 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. 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 dies after the termination of his employment, his beneficiary shall be entitled to a death benefit equal to the amount provided under section 8.1, 8.2 or 8.3, as the case may be, provided that any such death benefit shall be in lieu of the payment For more information, current Publix associates can visit PASSport. decision and a statement of the claimants right to bring a civil action under Section502(a) of ERISA. All Rights Reserved. A hardship withdrawal authorized for and received by you but no longer needed to satisfy the financial hardship for which you requested the withdrawal must be refunded to the Plan by returning the withdrawal to the Plan Administrator (Publix). 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 Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities Manage your account online! Administrator and applied on a uniform basis to all plans in the applicable aggregation group. exceed twelve (12)weeks reduced by any time for which the Employee receives sick pay from an Employer or an Affiliate for the FMLA leave; (B) any time for which an Employee is on an unpaid military leave, which period shall not exceed twelve (12)weeks; (C) any time for which an Employee is absent from work due to a workers compensation injury, which period shall not exceed fifty-two (52)weeks reduced by any time for which the Employee receives sick pay Employee and who subsequently reenters the employ of an Employer after a One Year Break in Service shall be required to complete one Year of Service before 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 Account. Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at A medallion signature guarantee is a guarantee by your financial institution that the signature(s) is genuine. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. 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. benefit, or if no personal representative is appointed for the estate of such Participant or no court order authorizes a distribution pursuant to applicable state law, then his next of kin under the statute of descent and distribution of the state week payroll period immediately preceding the unpaid period for which Hours of Service are being given hereunder; or in any case in which the Administrator (2) The Hours of Service to be credited to an Employee under the provisions of section 1.29(c)(1) are the Hours of Service that otherwise contribution is made to the Trust. Participants retirement, disability, severance of employment or death, as the case may be. necessary to enable it to carry out its duties in that respect. by the Distributee in a Direct Rollover. Now, you didn't ask - but I will give my opinion. Date if during such consecutive 12-month period, the Employee completes 1,000 Hours of Service for an Employer or an Affiliate thereof. (2) the judgment, order, decree, or settlement agreement expressly provides for the 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302 TypicalSeminole 6 yr. ago 6.3 Participant Contributions Not Permitted. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. (or parent-in-law), grandparent (or grandparent-in-law), or any other family member who resides in the Participants household preceding such persons death. from time to time. 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. 1.47 Valuation Date shall mean each 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.. (a) In the event a Participants employment with his Employer is terminated for reasons other than Also you won't loose around 40% of it. The profit sharing plan is funded with year end bonuses. If any Participant elects to receive a diversification distribution in any year in the Diversification Election Period, the Trustee shall distribute Employer Securities that are allocated to the Company Stock Account of the The amount of any benefit to which a Distribution under this section 14.5 to an Eligible Retirement Plan in accordance with the provisions of section 9.2(d) instead of distributing such amount to the Participant. Participants for that period who are entitled to share in the Employer contribution, Forfeitures, and additional contributions for such Plan Year; provided that a Participant shall not be entitled to share in the Employer contribution, Forfeitures, Such expenses shall be paid out of the assets of the Trust Fund unless paid or provided for by the Company or another Employer. Any Employer, in its sole and absolute discretion, may permanently discontinue making contributions under this have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). Publix offers employees /associates ownership through a profit-sharing plan. 1.4 Anniversary Date 7.4 Adjustments to If the Administrator approves a Hardship (3) If a Participant is less than one hundred percent (100%)vested in his Accounts and his Forfeitable Interests have been placed in Forfeiture Suspense Accounts pursuant to section 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 (40)Hours of Service for each week of employment during the period beginning on his most recent Anniversary Date prior to October1, 1975, and ending on October1, 1975. The Administrator shall not take any action or direct the Trustee to take any action whatsoever that would result Because Publix Stock is not traded on an established securities market, the market price of Publix Stock is determined . deference will be given to the initial denial. The Company or, if the Company does not exercise such right, the Plan, shall have a right of first refusal with Each Employer may make a contribution to the Trust for each Plan Year. Does anyone have these documents or know where I can find them? In the event that a Distributee elects to have only a portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan, the portion must not be less than $500 (as adjusted from time 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 The Plan Administrator shall not accept any Participant contributions. (4) Credit shall be given for Hours of Service under this section 1.29(c) solely for 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 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 attributable to Participants Other Investments Accounts, the combined assets of which shall consist of the common investments (other than Employer Securities) of all Participants other than those Participants who have terminated employment and person entitled to the shares). Any extension notice must provide that the claimant has forty-five (45)days from receipt of the notice in which to www.publix.com. The Administrator shall notify the claimant in writing or in electronic form of the this Plan and under any other defined contribution plans maintained by an Employer or an Affiliate for any Limitation Year shall not exceed the lesser of (1)$40,000 (as adjusted from time to time under applicable law) or (2)one hundred (b) A person who has satisfied the eligibility requirements of this Article V (3) for matters beyond the control of the Administrator, including cases where a claim is incomplete. scientific or clinical judgment used for the determination or a statement that such explanation will be provided free of charge upon request, and the following statement: You and your plan may have other voluntary alternative dispute to the Participants and others hereunder. Account or Accounts shall mean, as required by the context, the entire amount held from time to time for the benefit of any one Participant, or the portion thereof attributable to a 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 successor regulation or statute. My buddy cashed out many many years ago his 50k would be worth around 150k now and would still be getting dividend checks. alternate payee or a deceased beneficiary of a Participant on forms supplied by the Plan Administrator. (a) expenses of uninsured medical 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,
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