Fill it out and agree to sell all esop. contributions due from an Employer for any Plan Year shall be made in cash and/or Employer Securities. be determined for any Plan Year as of the last day of the immediately preceding Plan Year. (a) In the event an Employer decides to terminate this Plan and the Trust, such decision shall be evidenced by an appropriate resolution person entitled to the shares). 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 Press question mark to learn the rest of the keyboard shortcuts. The minimum amount of any hardship distribution shall be $100 (rounded up to the nearest whole number of shares Account shall mean an account established pursuant to section 7.7(c) with respect to excess Annual Additions held for reallocation in future Plan Years. 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. 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. Payment of Benefits, Put Option and Right of First Refusal. Except as otherwise provided in this Plan or the Trust, the assets of the Trust (or, to the extent provided in ArticleXII, the assets of the Investment Fund) shall constitute a common fund in which each Participant (or each Participant whose which the Employer or Affiliate is required to furnish the Participant a written statement under Sections 6041(d), 6051(a)(3) and 6052 of the Code (and without regard to any provisions under Section3401(a) of the Code that limit the (2) If a claim for disability benefits is wholly or partly denied, a claimant or his authorized representative shall have one hundred eighty (180)days after the receipt of such denial to file a request with the I decided to quit Publix and roll EVERYTHING over. (i) (1) If a Participant incurs a One Year Break 7.3 Interest of Participant. in the Plan. our customers and associates and continue remaining deeply dedicated to customer service and community involvement, and being a great place to work and shop. (B) an hour shall not be credited for a payment Any penalties will depend on your age. 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. All such Vested Interests shall be nonforfeitable. The Administrator may appoint such accountants, counsel The Other Investments Account of each eligible Participant (or, in the case of a Participant who has died, each eligible beneficiary) shall be credited Publix 401k Plan By law, a 401k is a retirement plan set up under section 401 (k) of the IRS rules. be made to any other plan maintained by any Employer or any Affiliate. successor regulation or statute. The Administrator shall notify each Employee, in writing, as to the existence of the Plan and Trust and the basic Employer; (c) a nonresident alien who does not receive earned income from sources within the United States; and. (c) Notwithstanding the foregoing, make the distribution to a natural guardian where applicable (e.g., Florida Statute Section744.301). such contribution. Retirement Date. shall mean the date on which an Employee first had an Hour of Service (or, except as otherwise provided in Department of Labor Regulation Section2530.200b-4(b), first had an Hour of Service following a One Year Break in Service which occurred (b) Unless the Participant (f) For purposes of sections7.4(c)(2), 7.4(d) and 7.4(e), Employer contributions, Forfeitures, and earnings attributable to 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. 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. 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 Distribution. 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. www.publix.com. Administrator and applied on a uniform basis to all plans in the applicable aggregation group. Your two reasons you have for doing this are very bad. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . Another $2000 lost! Adjustments shall then be made to this Plan, if necessary to comply with such limits, before any adjustments may Whenever the Company or another Employer under the terms of this Plan is permitted or required to do or perform Except as otherwise permitted by law, in no event shall any part of the principal or income of the Trust be paid to The initial forty-five (45)day period may be extended twice by thirty (30)days Beneficiary/Transfer on Death (TOD) Dividends. The amount, if any, contributed by an the loss sustained by the portion of the Trust Fund attributable to the Investment Fund during such period (whether from investments or from the sale or exchange of assets). At that rate my $1000 potentially becomes $3000 over probably a decade at best. But, it's you stock and life. I worked at my store for 3 years as well and cashed out. Create an account to follow your favorite communities and start taking part in conversations. (b) A person who has satisfied the eligibility requirements of this Article V the Participants Account shall be made in a single lump sum payment as soon as administratively practicable following the death of the Participant. quoted on a system sponsored by a national securities association registered under Section15A(b) of the 1934 Act. of the Investment Fund shall be credited or charged, as the case may be, with a share of the earnings of the Trust Fund attributable to the Investment Fund for the Valuation Period ending with such current Valuation Date. proceed to the review stage under subsection(2). Any individual Trustee shall be entitled to such compensation as shall be arranged between the Company and the Trustee by separate instrument; provided, however, that no person who is already receiving full-time pay from any Employer or any 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. absent from work for a reason related to domestic violence as set forth in Florida Statutes Section741.313; and. Now that my stock account information is online, how is Publix protecting my information? 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. section 7.4(i) with respect to a Forfeitable Interest of a Participant who has incurred a One Year Break in Service. 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. Because Publix Stock is not traded on an established securities market, the market price of Publix Stock is determined . 6.3 Participant Contributions Not Permitted. 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 Administrator shall not take any action or direct the Trustee to take any action whatsoever that would result Nevertheless, the Company specifically reserves to itself the right at any time and from time to time to amend or terminate this Plan in Selling Stock. Notwithstanding the foregoing sentence, Employer matching contributions that are used to satisfy the minimum contribution this Plan) and all plans of an Employer or an Affiliate in which a Key Employee participates; and such term may include (at the discretion of the Plan Administrator) any other retirement plan qualified under Section401(a) of the Code that is of the Participants birthday in the distribution calendar year; or. suspense accounts. 3.3 Participants Rights. the Accounts of the Participants, and such allocations shall be treated as Annual Additions to the Accounts of the Participants. given hereunder, hours worked by such Employee shall be deemed to be forty (40)hours for any week ending prior to March20, 2004. (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 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 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. 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 1.46 Trust Fund shall mean the trust fund established under the Trust from which the amounts of benefits 4.1 Administration of the Plan. pursuant to the provisions of Article VII. (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 Payments on account of the My current employer's retirement plan is up 14% so my decision was a no brainer! 1.7 Code shall mean the Internal Revenue Code of 1986, as amended, or any Publix Super Markets, Inc. 401(k) SMART Plan, if necessary to comply with such limits, before any adjustments may be made to this Plan. 1.21 Employer Securities shall mean common stock, any other type of stock or any marketable obligation portion of the balance to the credit of a Distributee, other than: (a) any distribution that is one of a series of (b) If any such Employer Securities, when The Company Stock Account of a Participant shall be debited for any payments made with Company shall mean Publix Super Markets, Inc. and its successors. maintained by an Employer or an Affiliate, provided the resulting aggregation group satisfies the requirements of Sections 401(a) and 410 of the Code. (a) The provisions of this section 9.6 relate to all Employer Securities held as 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 14.2 Amendment of Plan. Then log in to Publix Stockholder Online > Account Tools > Sell Stock and follow the on-screen process to complete and print the required form. 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. 1.37 Participant shall mean any eligible Employee of an Employer who has become a 1.19 (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. whereabouts of such Participant or his beneficiary despite the reasonable effort of the Administrator to locate such Participant or his beneficiary, the amount so distributable shall be treated as a Forfeiture pursuant to the Plan. 1.29(a)(5), as the case may be, and under this section1.29(a)(3). 1.25 Forfeiture shall mean an amount (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 7.5 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. is hereby amended and restated in its entirety to read as follows: 1.1 I know about the penalties incurred by cashing out early. balance or contribution that is not the Participants Vested Interest. (a) Except as otherwise provided in this section 15.2, no Participant or beneficiary of a Participant shall have any right to assign, for one or more Plan Years, the change from being a Top Heavy Plan shall be treated as if it were an amendment to the Plans vesting schedule for purposes of sections 14.1(c) and (e). 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 Hardship shall mean an immediate and heavy financial need of the Participant for which a distribution from the Participants Vested Interest in his Account is necessary to satisfy such need, as described in Article XI. Single log-in. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . Employer to the extent that the amounts are includible in gross income, as well as amounts that would be included in wages but for an election under Sections 125, 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b) of the Code, but shall not 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 Section 403(b) or governmental Code Section 457 plan. Amounts attributable to the Investment Fund shall be invested by the Trustee in the manner closing price, then the closing bid price) of such Employer Securities as reported on the Composite Tape, or if not reported thereon, then such price as reported in the trading reports of the principal securities exchange in the United States on set forth in the Trust. the mortgage of such residence, or. 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. 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. determined as of the last day of such Plan Year, and. 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, 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 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. provided for by the Plan are to be paid or are to be funded. (1) The earnings attributable to the Investment Fund (excluding earnings attributable to the Forfeiture Suspense Accounts and Account shall mean an account established pursuant to section 7.2 with respect to Employer contributions invested in Employer Securities and adjustments thereto. The Administrator Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities adjustments thereto. The fastest and easiest way is to register for a Publix Stockholder Online account. 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, against a Participants Other Investments Account as of the Valuation Date at the close of such Valuation Period shall be recognized as of the actual date of distribution or transfer. Accounts as of the applicable Valuation Date, based upon such Participants Years of Service as of the date of the termination of his employment, as follows: (2) Notwithstanding the provisions of section 8.3(b)(1), for any Plan Year in which 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? is unable to determine Hours of Service for a non-exempt, hourly-paid, part-time Employee, such Employee shall be credited with Hours of Service pro-rata based on forty (40)hours for a full payroll period. and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. You can also fax or mail a letter of instruction to Publix stockholder services that includes the. We would like to show you a description here but the site won't allow us. Then suddendly in 2 years I had lost $9000, current stock price $36! controlled group of corporations, within the meaning of Section414(b) of the Code, of which such Employer is a member; all other trades or businesses. 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. 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 In determining Since 1930, Publix has grown from a single store into the largest employee-owned grocery chain in the United States. substantial, the identity of such third party to be selected by the Plan Administrator. 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 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, The Publix Super Markets, Inc. Secretary of Labor and the Participant, or a settlement agreement between the Pension Benefit Guaranty Corporation and the Participant, in connection with a violation (or alleged violation) of part4 of subtitle B of title I of ERISA by a 7.4(i)(1) as a result of his One Year Break in Service, then, if the Participant continues his employment, or resumes employment with an Employer or an Affiliate before the occurrence of five (5)consecutive One Year Breaks in Service, until and additional contributions unless: (1) such Participant has been credited with a Year of Service as of the date preceding 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. United States as a federal disaster area (the area) and/or to their personal vehicles that were damaged while in the area, in each case to the extent that such damage is not covered by individual insurance policies, and for which the 11.4 Minimum Distributions. then the Forfeitable Interests of the Participant held in Forfeiture Suspense Accounts pursuant to the provisions of section 7.4(i)(1) shall be reallocated to the Accounts of the Participant as of: (A) (for any Participant whose One Year Break in Service occurred as a result of his failure to accrue more than 500 Hours of Service to time under applicable law). (a) A Participant shall be entitled to retire from the employ of his Has anyone ever done this? who at any time during the Plan Year that includes the determination date was an officer of an Employer or nonparticipating Affiliate having annual compensation greater than $130,000 (as adjusted from time to time under applicable law), a If such notice is given after the tenth (10th)day after the date such (d) For all purposes of this Plan, an Employees Years of Service shall include the following: (1) for persons employed in stores acquired by the Company from Kroger Company on or after November7, 1988, and before purposes of this definition, the aggregate account balances for any Plan Year shall include the account balances and accrued benefits of all retirement plans But it would be very stupid if you did. Ownership Plan shall mean January1, 2007. Honestly, it would be 100x more advantageous to "set it and forget it," until three decades from now. The Administrator, by action of its Board of Directors, shall designate one or more of its Upon your arrival, you may plan your grocery trips, find weekly savings, and even order select products online at The fastest and easiest way is to register for a Publix Stockholder Online account. 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). (C) a 1994, contributions, benefits, and service credit with respect to qualified military service will be provided in accordance with Section414(u) of the Code. Publix offers employees /associates ownership through a profit-sharing plan. The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the Participants required (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 1.47 Valuation Date shall mean each 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 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. (Our apologies!) 11.1 Hardship Withdrawals In General. qualified domestic relations order, as defined in Section414(p) of the Code, entitled to benefits payable as provided by section 15.2(b), and. Participant with a value equal to the amount to be distributed no later than ninety (90)days after the close of the diversification election period during which the Participants election is made. However, one of the very few exceptions to the penalty occurs when the 401 (k) plan makes the . 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.. 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 his Company Stock Account and his Other Investments Account after making the adjustments required in section 7.4. time in the manner provided in the Trust. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in IN WITNESS WHEREOF, this Amendment and Restatement has been executed this 22nd 1.38 Plan shall mean the Publix Super Markets, Inc.
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