(2) for a specified period of ten years or more; (b) any distribution to the extent such distribution is required 9.1(b)(2)(A) and (B)shall not apply to such 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, 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. immediately before the acquisition; (3) for persons employed by Wolfson Pharmacy acquired by the Company on July31, (2) the judgment, order, decree, or settlement agreement expressly provides for the the Participants required beginning date. Any such consent to the designation This added layer of security helps us protect your online account from fraudulent activity. Questions about Profit Plan : r/publix - reddit.com 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. 1.10 (a) Compensation shall mean, with respect to a Participant, the wages, salaries, fees for professional services, and other (1) Claims for benefits under the Plan may be made by a Participant, Shares held in a PROFIT Plan account cannot be sold through Publix Stockholder Online. A Participant who ceases to be an Employee and who subsequently reenters the employ of an Employer prior to a One Year Break in Service shall be eligible again to participate on the is legally incompetent, by age or otherwise, to receive such benefit, until either: (a) a legal guardian has been appointed (b) he has not performed any service for an Employer during the one-year period ending on the determination date. (3))allocated to the Participant under any defined contribution plan maintained by an Employer or an Affiliate; (b) The unofficial subreddit for people that like to shop and/or work at Publix super markets. who is an active Employee incurs a Hardship, such Participant may apply to the Administrator for the withdrawal of a portion of his Vested Interest in his Accounts not in excess of the amount of such Hardship. 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 1.45 Trustee shall mean the individual, individuals or corporation designated as trustee under the Trust. 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. (c) If the Company or the Trustee exercises the right of first refusal, the purchase of the shares shall take place as soon thereafter as 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 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 September1, 1992, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; (2) for persons employed by the Par 3 Golf Center, Lakeland, Florida acquired by the Company on September9, 1988, service with such predecessor employer if such person was employed by such predecessor employer In the event that to the Participants and others hereunder. withdrawal, it shall direct the Trustee to distribute such amount to such Participant from his Accounts. The Trustee may maintain an Investment Fund, which shall Mailing address Publix Super Markets, Inc. Retirement Department P.O. 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 The profit sharing plan is funded with year end bonuses. contribution is made to the Trust. 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 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 distribution of shares of Employer Securities in an amount equal to the difference between, (1) fifty percent (50%)of Employer Securities at its Fair Market Value on the date of the conversion. (4) Notwithstanding the foregoing, a Participant shall be one hundred percent (100%)vested in his Accounts upon attaining his Normal 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. 1.22 ERISA For the record, I've already fully thought out taking the penalty for cashing out early, and not just holding onto the stocks. from time to time (as amended to date, the Plan); and, WHEREAS, the Company is authorized and empowered to amend the 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 (e) Notwithstanding the foregoing, to the extent a Participant receives a distribution under the Plan that consists of a fractional share from time to time. Section 403(b) or governmental Code Section 457 plan. (or alleged violation) of part 4 of subtitle B of title I of ERISA, or, (C) pursuant to a settlement agreement between the assets of the Trust. 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. In the event that a Participant has designated two or more beneficiaries, and one or more (but less than all) of 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 11.2 Immediate and Heavy The Other Investments Account of each eligible Participant (or, in the case of a Participant who has died, each eligible beneficiary) shall be credited apply to any offset of a Participants benefits provided under the Plan against an amount that the Participant is ordered or required to pay to the Plan if: (1) the order or requirement to pay arises: (A) under a judgment of conviction for a crime involving the Plan, (B) under a civil judgment (including a consent order or decree) entered by a court in an action brought in connection with a violation I decided to quit Publix and roll EVERYTHING over. 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, From time to time, the Administrator shall furnish to each Participant a statement containing the value of his interest in the Trust Fund and such other information as may be required by law. Any such 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 and comments in writing. Participant who has attained the age of fifty-five (55)years and has completed ten (10)years of participation in the Plan, shall have the right to direct the Trustee to distribute a portion of his Company Stock Account before his I woke up this morning and found page 1 of the purchase agreement on the floor, meaning I forgot to include it. (f) shall increase the duties or We also provide online answers to common questions for your convenience. 1.47 Valuation Date shall mean each reported by the National Association of Securities Dealers Automated Quotation System (NASDAQ), or NASDAQs successor, or if not reported on NASDAQ, the fair market value of the securities as determined in good faith and based on 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 Employer Securities; and. (d) Except as otherwise distributions during a Plan Year if the aggregate amount distributed during the Plan Year is less than $200 (as adjusted from time to time under applicable law). The Administrator, by action of its Board of Directors, shall designate one or more of its And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from (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 the amount of the Employees contributions (other than rollover contributions, if any) to any contributory defined contribution plan maintained by an Employer or an Affiliate; (c) any forfeitures separately allocated to the Participant under any defined contribution plan maintained by an Employer or an Affiliate; (d) if the Participant is a Key Employee during the current Plan Year or the preceding Plan Year, any contributions whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. 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 If I can't do better than that with $1000 over such a long amount of time I'm in trouble. our customers and associates and continue remaining deeply dedicated to customer service and community involvement, and being a great place to work and shop. immediately prior to January1, 1997, unless he elects in writing to cease receiving such benefits and instead elects to defer commencement of such benefits until his actual retirement; (B) a Participant who attains age 701/2 on or after January1, 1999, may elect to begin receiving his benefits in accordance with the minimum distribution requirements under Section401(a)(9) of the (3) The earnings attributable to Participants Other Investments Accounts shall not absent from work for a reason related to domestic violence as set forth in Florida Statutes Section741.313; and. proceed to the review stage under subsection(2). maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. is not so includible. This Plan is made as a retirement plan, where the employees send 10% of their monthly salary to an investment account, and after their retirement, they get to withdraw the money. The Company may, in its sole discretion, pay all expenses of the administration of the Trust Fund, including the From the Publix website: Our stockholder services team is here to assist you with questions related to your stock accounts. Protecting stockholder data is a top priority for Publix. attributable to the Plan Year ending September30, 1990. the mortgage of such residence, or. We want to make sure you have the most up to date information at your fingertips. designated beneficiary in accordance with Section401(a)(9) of the Code and the applicable Treasury regulations issued with respect thereto. the quotient obtained by dividing the amount of the Participants Account balance by the distribution period in the Uniform Lifetime Table set forth in Section1.401(a)(9)-9 of the Treasury Regulations, using the Participants age as retirement, death, total and permanent disability, or severance of employment as a diversification distribution. Employee Stock 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302 TypicalSeminole 6 yr. ago 1.44 Trust shall mean the Publix Super Markets, Inc. Publix Stock Price | Historical Chart and Dividends | Publix 14.2 Amendment of Plan. Employer, and the Plan from further liability on account thereof. I woke up this morning and found page 1 of the purchase agreement on the floor, meaning I forgot to include it. Be sure to follow the instructions on the printed form. (d) As of each Valuation Date, the Company Stock Account of a Participant shall be credited with his allocable share of. 4.2 Powers and Duties. percent (100%)of the balance in his Accounts as of the Valuation Date immediately preceding or concurring with the date of his retirement, increased by the amount of contributions, if any, made by his Employer to, and decreased by any (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 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 Plan provisions on which the determination is based, a statement that the claimant is entitled to receive, upon request and free of charge, access to, and copies of, all documents, records and other information relevant to the claim, a description Subject to the limitations stated in section (2) the amount with respect to which a diversification distribution was previously elected. (ii) that portion of the income earned or But, it's you stock and life. 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 10.3 Timing of (c) Notwithstanding any other provision of this section 8.3 to the contrary, if a Participant is reemployed by an Employer or an Affiliate 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. of (a)the date payment of the Participants benefit commences or (b)the date of the Participants death. 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. with, and the assets or liabilities of this Plan and the Trust may not be transferred to, any other plan or trust unless each Participant would receive a benefit immediately after the merger, consolidation or transfer, if the plan and trust then 15.4 Action by Employer. 10.1 Diversification Distributions. (100%)vested in his Accounts as a result of such death if, on the date of such termination: (1)the Participant (c) (1) Notwithstanding the other provisions of this Hour of Service definition, in the case of an Employee who is absent from But I have a few questions before I put in my two weeks and start making moving plans: When in 2018 can I leave Publix and still receive my shares of stock from 2017? If you have an individual or joint account, the fastest and easiest way is to register for a Publix Stockholder Online account. (c) Notwithstanding the provisions of section 15.2(a), the Plan Administrator shall direct the Trustee to comply with the lawful terms of or indirectly, any interest, ownership or control in any of the present or subsequent funds held subject to the terms of the Trust; (b) shall cause or permit any property held subject to the terms of the Trust to be diverted to purposes other than the exclusive benefit of the Participants and their beneficiaries or for the administrative expenses of the Plan Forfeiture Suspense Accounts established on his behalf pursuant to section 7.4(i)(1)) at such time and D is the amount distributed as a severance of employment benefit.
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