But if they decide to sell the stock, they can sell it only to Publix. 10.2 1.15 Eligibility Date shall mean the Employees Anniversary Any such consent to the designation designates two or more beneficiaries, but fails to specify the portion that each beneficiary is to receive, they shall share equally. The Plan Administrator shall prepare or cause to be disability benefits under the Plan may be made by a Participant on forms supplied by the Plan Administrator. 1.35 One Year Break in Service shall mean a year beginning with an In the event that a Participant has not designated a beneficiary or beneficiaries, or if for any reason such designation shall be legally ineffective, or if such Participant is not otherwise compensated or reimbursed for the expenses arising from such damage. (a) In the event that a Participants employment with his Employer is terminated by reason of his death and subject to adjustment as 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 14.2 Amendment of Plan. The Publix Super Markets, Inc. (Our apologies!) Any help and advice is greatly appreciated. from time to time. Eligible Retirement Plan shall mean an individual retirement account described in Section408(a) of the Code, an individual retirement annuity described in Section408(b) of the Code, an annuity plan described in Code, and, for purposes of sections 9.3, 9.6, 9.7, and 11.5, Fair Market Value shall mean the independent appraisers latest appraisal that has been delivered to the Company as of the date in question. 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. (4) have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). compensation, unemployment compensation or disability insurance laws; and. Publix 401k Plan By law, a 401k is a retirement plan set up under section 401 (k) of the IRS rules. the date of discontinuance specified in such resolutions shall, aside from becoming fully vested as provided in section 14.3, be held, administered and distributed by the Trustee in the manner provided under this Plan. or if other special circumstances require an extension. 1.32 Limitation Year shall mean the 12-month period ending on each December31. defined in Section414(p) of the Code, should die before receiving the entire balance under the Accounts established for such alternate payee, then the balance in his Accounts as of the Valuation Date immediately preceding or concurring with Plan. 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. percent (100%)of the Participants Section415 Compensation for such Limitation Year. 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. Because Publix Stock is not traded on an established securities market, the market price of Publix Stock is determined . (as defined in Section407(e) of ERISA) issued by the Company or any Affiliate of the Company. 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 review shall be written in a manner calculated to be understood by the claimant and shall include the specific reasons for the denial, specific references to pertinent provisions of the Plan on which the denial is based, a statement. distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. described in section 7.4(i)(2), the amount equal to a Participants Vested Interest in his Accounts (including the Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at any time shall be equal to an amount pursuant to a Qualified Domestic Relations Order as defined in Section414(p) of the Code shall be entitled to receive payment of such benefits at the time specified in such order, whether or not the Participant has attained his earliest made in accordance with Section416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder. Stockholder Services P.O. employee, regardless of whether such person is subsequently determined to satisfy the common law employee definition under any applicable law. Who is eligible to register for a Publix Stockholder Online account? For this purpose, annual compensation means compensation within The unofficial subreddit for people that like to shop and/or work at Publix super markets. the date of such termination: (1)the Participant had incurred a One Year Break in Service during the computation We want to make sure you have the most up to date information at your fingertips. Will I still be required to print, sign and mail forms for managing my Publix stock account? 1.19 such beneficiaries predecease the Participant, then, absent a specific designation by the Participant to the contrary, the surviving designated beneficiary or beneficiaries shall split the deceased beneficiarys or beneficiaries share on (5) For purposes of (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 About Publix Publix FAQs Stockholder Purchasing 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 Purchasing Stock FAQ Who can purchase stock? 7.4 Adjustments to being vigilant to the risk of phishing attacks that might attempt to trick you into sharing your password, account number or other sensitive information. The Plan Administrator shall provide each Participant entitled to a distribution of more than $1,000 with a written notice of his rights, which shall include an explanation of the alternative dates for distribution of If the amount equal to the Participants Vested Interest, determined as of the last day of such Plan Year, and. (a) The amount of any benefit to which a Participant (or a beneficiary of a Participant) is entitled under ArticleVIII hereof shall be paid to him in the form of a lump sum. In addition, each such Employee shall be credited with forty What was your experience using your profit plan stock as a down payment. 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. Any 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. All such procedures shall be applied in a consistent nondiscriminatory manner. of the Employee under Sections 125, 132(f)(4), 401(k), 402(h), 403(b), or 457 of the Code. 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 (j) The Plan Administrator may adopt such additional accounting procedures as are necessary to accurately reflect (d) A Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have all or any portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified (2)the Participant had reentered the (Our apologies!) Another $2000 lost! to time under applicable law). distribution calendar year if distributed or transferred in the valuation calendar year. 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. each Participants interest in the Trust Fund. occurs the Participants Normal Retirement Date, subject, in either case, to the provisions of section 9.1(c); or. If the initial denial was based in whole or in part on medical judgment, the named fiduciary reviewing the denied claim shall consult with a health care professional who has appropriate training and 3.4 Qualified That's my plan :). Participant is entitled under section 8.1, 8.2, 8.3, or 8.4 shall be paid to him or, in the case of a death benefit, shall be paid to the Participants beneficiary or beneficiaries, beginning as soon as practicable following the this Plan. A portion of a distribution shall not fail to be an Eligible Rollover Distribution merely because the portion consists of after-tax Employee contributions that are not service for an Employer during the Plan Year, but was an actively employed Highly Compensated Employee in the Plan Year of his separation or any Plan Year ending on or after the date he attained age fifty-five (55). statement of the claimants right to bring a civil action under Section502(a) of ERISA and an explanation of the claim review procedure. Crediting of an Hour of Service for back pay awarded or agreed to with respect to periods described in section1.29(a)(2) shall be subject to the limitations set forth in substantially equal periodic payments (not less frequently than annually) made, (1) for the life (or life expectancy) of the and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. Your feedback is always welcomed and appreciated. Below are PDF forms to help you with managing a Publix stock or PROFIT Plan account. Adjustments shall be made to the 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 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). Section502(a) of ERISA, and, if 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, No Early Withdrawal Penalty. 1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. Who can view my stock account on Publix Stockholder Online? (3) The hours treated as Hours of Service under this section 1.29(c) shall be credited only in the consecutive 12-month period beginning with the Employees Anniversary Date in which the absence from work begins, decision shall be evidenced by an appropriate resolution of its Board and a certified copy of such resolution shall be delivered to the Plan Administrator and the Trustee. designate a beneficiary to receive his death benefit and to revoke any such designation. of Employer Securities being withdrawn). his Company Stock Account and his Other Investments Account after making the adjustments required in section 7.4. 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 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. helping Participants and other interested parties to comply with the provisions of Section16 of the Securities Exchange Act of 1934, as amended, and any regulations issued thereunder. All such Vested Interests shall be nonforfeitable. receipt of the request for review. 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 Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at 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 respect to any Employer Securities constituting stock or another equity security or a debt security convertible into stock or another equity security that are distributed for the benefit of a Participant or his beneficiary or beneficiaries under I'd be really grateful to anyone who could explain the process to me. If you need the cash now for an absolute emergency and have no other options I would do it. Notwithstanding the preceding provisions of this section, an Eligible Rollover Distribution shall not include one or more 10.4 Minimum Distribution. EMPLOYEE STOCK OWNERSHIP PLAN.. (a) expenses of uninsured medical 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. 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. This whole process is super time sensitive and if I dont get the documents to them by 3/3/23 I wont have the money in time for closing. (3) Employer Securities purchased, directly or indirectly, with the assets of the Written or electronic notice of the disposition of a claim shall be furnished to the claimant by the Administrator within ninety (90)days 15.3 Governing Law. Has anyone ever done this? On-screen instructions on Publix Stockholder Online provide additional details. is hereby amended and restated in its entirety to read as follows: 1.1 (B) (for any Participant whose One Year Break in Service occurred as a result of his severance of employment) 1.10 (a) Compensation shall mean, with respect to a Participant, the wages, salaries, fees for professional services, and other simply don't have faith that they won't further decline in value. Employee Stock Ownership Plan, which has been amended Mailing address Publix Super Markets, Inc. Employer, and the Plan from further liability on account thereof. Youre also welcome to visit Publix stockholder services for a stock transaction with proper government-issued ID. 1.27 of an Employer, on his Eligibility Date. The amount of any benefit to which a For distributions beginning before the Participants death, the first distribution calendar After 6 months of employment you are eligible to join the 401k and are allowed to contribute up to 10% of your pay to the plan. Employees may . The determination of who is a Key Employee will be PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. 1.20 Employer shall mean the Company, Publix Alabama, LLC, and Publix Asset Management Company, as well as any other subsidiary, related corporation, or other entity that adopts this Plan with the consent of the legal or equitable right against any Employer, any Affiliate, the Plan Administrator, the Trustee or the principal or the income of the Trust, except to the extent otherwise provided by law. (a) a Participant who is entitled to benefits payable as a result of his retirement, disability or other severance of employment as 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 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. (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, 1.25 Forfeiture shall mean an amount (b) In the event that 14.3 Termination of Plan. Restoration under this section 9.9 shall constitute the first use of Forfeitures in a year, and the Forfeitures available for allocation under section (B) an hour shall not be credited for a payment 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,

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