this ArticleXI shall be: (a) converted to and payable in units of Employer Securities, rounded up to the nearest Dumb idea. 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 Service and at least 1,000 Hours of Service in such Plan Year and terminated on a date when the Participant either had not incurred a One Year Break in Service or was eligible to resume participation in the Plan under section 5.3, or 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. distribution of shares of Employer Securities in an amount equal to the difference between, (1) fifty percent (50%)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 However, such portion may be transferred only to an individual retirement account or annuity described in Section408(a) or (b)of the Code, or to a qualified defined contribution plan described in (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 I simply don't have faith that they won't further decline in value and as someone fresh out of college I could use the quick cash infusion. My buddy cashed out many many years ago his 50k would be worth around 150k now and would still be getting dividend checks. (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 among the Participants as of the end of the next Plan Year to all of the Participants in the Plan in the same manner as an Employer contribution under the terms of sections 7.4(d) and 7.4(e) before any further Employer contributions are allocated to. 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 Notwithstanding the preceding provisions of this section. notice of extension is sent until the date of the claimants response to the request for additional information. 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. (a) a Participant who is entitled to benefits payable as a result of his retirement, disability or other severance of employment as 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. the provisions of section 8.4) as soon as practicable following the death of the alternate payee, unless and to the extent that the Qualified Domestic Relations Order provides otherwise. 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. Period ending with such current Valuation Date that are received on Employer Securities allocated to his Company Stock Account. 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 Plan. Mailing address Publix Super Markets, Inc. Retirement Department P.O. PROFIT Plan (employee stock ownership plan) account or 401 (k) SMART Plan account. 4.2 Powers and Duties. 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 the meaning of Section415(c)(3) of the Code; and the determination date means the last day of the Plan Year immediately preceding the Plan Year for which top-heaviness is to be determined. 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 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 For the past 19 months I have been working for a GREAT company with BETTER bennefits and AMAZING retirement matching at 7%! (b) For purposes of ArticleV and section 7.4, a Year of Service is not completed until the end of each consecutive 12-month period without regard to when during the period that 1,000 Hours of Service are If such notice is given after the tenth (10th)day after the date such 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, (a) In the event a Participants employment with his Employer is terminated for reasons other than other amounts that receive special tax benefits (such as premiums for group-term life insurance, but only to the extent that the premiums are not includible in the gross income of the Employee and are not salary reduction amounts that are described his Company Stock Account and his Other Investments Account after making the adjustments required in section 7.4. Investments Accounts in accordance with the terms of section 9.2 and the Trust. (a) Except as otherwise provided under this ArticleIX, the amount of the benefit to which a 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 ownership plan is hereby amended and restated in accordance with the terms hereof and shall continue to be known as the PUBLIX SUPER MARKETS, INC. (c) In the event of the death of the Participant after distribution to the Participant has commenced, payment of the remaining amount of (5) Notwithstanding the foregoing, any beneficiary whose benefits are subject to this paragraph (b)may make an irrevocable election to receive the death benefit at any time before the date of distribution described above. 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) Forfeitures of assets other than Employer Securities. I dont want to leave and end up getting nothing from my stocks, being shafted by management and losing access to my W2s. 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 Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. Plan Year coincident with or immediately following the date such One Year Break in Service occurs. Notwithstanding the foregoing, in the Plan Year in which a (f) shall increase the duties or 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. 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 Any installment 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 1.19 (4) Required beginning Single log-in. 1.25 Forfeiture shall mean an amount event that all, or any portion, of the distribution payable to a Participant or his beneficiary hereunder shall, at the. receipt of the request for review. Medallion Signature Guarantee. (2) the amount with respect to which a diversification distribution was previously elected. Notwithstanding the provisions of section 3.1, any contribution made by an Employer to this Plan by a mistake of fact may be returned to the Employer within one year after the transferable or is no longer subject to a substantial risk of forfeiture, amounts realized from the sale, exchange or other disposition of stock acquired under a statutory stock option (as defined in Treasury Regulation Section1.421-1(b)), and The Administrator shall determine whether a distribution is necessary to 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 and restate the Plan to reflect statutory and regulatory modifications and to make other desired changes. You also can visit Publix stockholder services at the corporate office to sell your Publix stock. All such Vested Interests shall be nonforfeitable. 11.4 Minimum Distributions. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Such Prior to January1, 2000, this Article X of the Plan applied only to Employer Securities 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. (2) If a claim is denied, a claimant or his duly authorized representative shall have sixty (60)days after the receipt of such denial to petition the Plan Administrator in writing for a full and fair review of (b) For purposes of making allocations of Employer contributions pursuant to section 7.4 (b) Within ninety (90)days after the close of the second, third, fourth and fifth Plan Years whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. Trust (with respect to all Employers if it is the Company, or with respect to itself alone if it is an Employer other than the Company), completely or 15.5 Alternative Actions. 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 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. 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 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 (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 Accounts of the Participants, and such allocations shall be treated as Annual Additions to the Accounts of the Participants. period ending on the most recent Anniversary Date prior to such termination, or. (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to 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 Forfeiture Suspense Accounts and Section415 Suspense Accounts described in section 7.4(c)(2) (for purposes of this section 7.4(f), such earnings shall be referred to as additional contributions), if any, with respect to the Plan (b) Notwithstanding the provisions of withdrawal, it shall direct the Trustee to distribute such amount to such Participant from his Accounts. (b) once per Plan Year and once per purchase, payments (other than mortgage payments) up to a maximum of $10,000 directly related to the Notwithstanding anything contained herein to the contrary, no excise tax or other liability imposed upon the Trustee, the Plan Administrator or any 7.3 Interest of Participant. (B) Earnings attributable to the Investment Fund for any Valuation Period shall be allocated to each Participant who has an Other 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 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. Such expenses shall be paid out of the assets of the Trust Fund unless paid or provided for by the Company or another Employer. employee, regardless of whether such person is subsequently determined to satisfy the common law employee definition under any applicable law. 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 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 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 Who can view my stock account on Publix Stockholder Online? mean, with respect to each Limitation Year beginning after December31, 1986, the sum of: (a) the amount of Employer attributable to the Plan Year ending September30, 1990. The interest of a Participant in the Trust Fund shall be the combined balances remaining from time to time in 12.2 Investment Fund. earnings for each Valuation Period during which it is in existence. (j) The Plan Administrator may adopt such additional accounting procedures as are necessary to accurately reflect distribution calendar year if distributed or transferred in the valuation calendar year. and comments in writing. substantial, the identity of such third party to be selected by the Plan Administrator. And I'm not saying this from a Publix cult following standpoint, but a financial standpoint. (a) Such a Participant may elect, within ninety (90)days after the close of the first Plan Year in the Diversification Election under Section401(a)(9) of the Code; and. Reddit and its partners use cookies and similar technologies to provide you with a better experience. time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), bereavement, lay-off, jury duty, military duty or leave of absence. remuneration included in wages based on the nature or location of the employment or the services performed), together with any amount that is contributed by an Employer at the election of the Employee and that is not includible in the gross income The unofficial subreddit for people that like to shop and/or work at Publix super markets. In the tax year 2021 for single taxpayers, these range from 10 percent for income up to $9,950 and to 37 percent for income over $523,600 . purposes of determining whether a One Year Break in Service has occurred for participation or vesting purposes; credit shall not be given hereunder for any other purposes (including, without limitation, benefit accrual). stock account number . 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 Election. terms offered by the proposed purchaser (other than the Company or the Plan), making a good faith offer to purchase the security. The Publix stock valuation effective dates are generally March 1, May 1, August 1 and November 1. . 1.33 Non-Key Employee shall mean, with respect to any Plan Year, an Employee or former Employee who is not a Key Employee (including any such Employee who formerly was a Key Employee). which solely reimburses an Employee for medical or medically related expenses incurred by the Employee; (3) an hour for Plan Administrator for a review of the denial. 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 The initial forty-five (45)day period may be extended twice by thirty (30)days For more information, current Publix associates can visit PASSport. Participants Other Investments Account. 1.44 Trust shall mean the Publix Super Markets, Inc. value of the Trust Fund as of the date of termination, each affected Participant or the beneficiary or beneficiaries of any such Participant shall be entitled to receive, in a lump sum, any amount then credited to his Accounts. 1988, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; and. person entitled to the shares). elects otherwise, any distribution paid to a Participant (or, in the case of a death benefit, to his beneficiary or beneficiaries) pursuant to section 9.1(a) shall commence not later than the earlier of: (1) the 60th day after the last day of the Plan Year in which the Participants employment is terminated or, if later, in which using a strong and unique password for your online account such as, using letters, numbers and special characters, avoiding common or easy-to-guess words and letters and numbers in a sequence, not using repeated or reused passwords from other online accounts or sites, monitoring your Plan information, including your online account, and Plan account correspondence for transactions you did not authorize, keeping your contact information and communication preferences up to-date to ensure that you receive all Plan notices, being careful when using free Wi-Fi networks that impose security risks and. 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302 TypicalSeminole 6 yr. ago (2) the amount with respect to which a diversification distribution was previously That's my plan :). any permissible agreement affecting such Employer Securities, that makes such Employer Securities not as freely tradable as Employer Securities not subject to such restriction), then the Participant, the Participants beneficiary or 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
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