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. Dumb idea. 1988, service with such predecessor employer if such person was employed by such predecessor employer immediately before the acquisition; and. (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 (a) In the event that a Participants employment with his Employer is terminated by reason of his Payment of Benefits, Put Option and Right of First Refusal. Publix 401(k) SMART Plan Skip to Main Content Skip to Footer Publix 401(k) SMART Plan Session Timeout. (f) In the event that distribution to the Participant commences under section 9.1(b)(2), the minimum amount Period, to receive a distribution of shares of Employer Securities in an amount not exceeding twenty-five percent (25%)of the portion of the balance of his Company Stock Account attributable to Employer Securities, determined as of the last 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 9.7 Right of First Refusal. (1) Claims for benefits under the Plan may be made by a Participant, Then suddendly in 2 years I had lost $9000, current stock price $36! In the event of any conflict between the terms of this Plan and Trust as set forth in this Plan and in the Trust and as set forth in any explanatory booklet or other description, this Plan and the Trust shall control. 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 fastest and easiest way is to register for a Publix Stockholder Online account. this Plan. The Administrator shall determine Remember, as this is a retirement account you will pay a penalty to the IRS on top of any taxes due. Many financial solutions. Disclosure. Box 32040 Lakeland, Florida 33802-2040 Phone numbers Monday - Friday, 8:30 a.m. to 4:30 p.m., Eastern time Telephone: (863) 688-7407, ext. whole number of shares, to which such Participants requested Hardship withdrawal converts, and no fractional shares shall be issued. 7.7(a)(2). specifies otherwise) may be returned to the Employer if the deduction is disallowed and the contribution is returned (to the extent disallowed) within one year after the disallowance of the deduction. 1.42 Section 415 Suspense claims related to total and permanent disability under section 8.2, the following procedures shall apply: (1) Claims for 1.41 Section 415 Compensation shall include all wages within the meaning of Section3401(a) of the Code (for purposes of Has anyone ever done this? is hereby amended and restated in its entirety to read as follows: 1.1 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 Hours of operation Monday Friday, 8:30 a.m. to 4:30 p.m., Eastern time, Mailing address Publix Super Markets, Inc. The Other Investments Account of each eligible Participant (or, in the case of a Participant who has died, each eligible beneficiary) shall be credited 9.5 Distribution Elections Before January1, 1984. The identity of any medical or vocational experts who provided If you create a Publix Stockholder Online account or elect to be communicated with by email, you should consider the following, among other things: For some account changes, yes. Contact the Publix retirement department. Subject to the provisions of section 7.7, the Company Stock Account and the Other Investments Account of a Participant shall be adjusted from time to time as follows: (a) As of each Valuation Date, a Participants Company Stock Account shall be credited with any stock dividends for the Valuation the date of such termination: (1)the Participant had incurred a One Year Break in Service during the computation But it would be very stupid if you did. (h) In the event that a Participant elects to receive a diversification distribution from his Company Stock Account pursuant to Box 32040 Lakeland, Florida 33802-2040 Corporate address 3300 Publix Corporate Pkwy Lakeland, Florida 33811-3311 Phone numbers Telephone: (863) 688-7407, ext. 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? Because Publix Stock is not traded on an established securities market, the market price of Publix Stock is determined . Now, you didn't ask - but I will give my opinion. Plan Administrator. in unfairly benefiting one Participant or group of Participants at the expense of another or in improperly discriminating between Participants similarly situated or in the application of different rules to substantially similar sets of facts. 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. the date of his death, decreased by any distributions made to the alternate payee from his Accounts subsequent to such Valuation Date, shall be distributed to the beneficiary or beneficiaries of the alternate payee (as determined in accordance with You can contribute up to 10% if your salary, and Publix matches the contribution with $750 annually. 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). 4.3 Direction of Trustee. employee, regardless of whether such person is subsequently determined to satisfy the common law employee definition under any applicable law. Employer Securities distributed pursuant to this Article X shall be subject to the provisions of sections 9.6 and 9.7. Date if during such consecutive 12-month period, the Employee completes 1,000 Hours of Service for an Employer or an Affiliate thereof. That's my plan :). The Trust may from time to time be amended in the manner therein provided. day of such Plan Year. The establishment of this Plan shall not be considered as giving any Employee, or any other person, any (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 (4) The period during which a put option is exercisable shall not include any time when a distributee is unable to exercise it because the 15.7 Veterans Reemployment Rights. Employee Stock Ownership Plan as herein set forth, as it may be amended Publix Stockholder Resources | Tools for Publix Shareholders Current Stock Price $13.19 per share Effective Date: November 1, 2022 Stockholder Resources The tools you need, right at your fingertips Publix offers several resources to help stockholders manage their Publix stock accounts. Year shall be allocated, as of the Valuation Date, among Participants Company Stock Accounts and the Other Investments Accounts, as the case may be. contribution by his Employer for the Plan Year has been made, the Employer shall make a subsequent contribution with respect to the omitted Employee based on the same factors used in the allocation to other Participants for such Plan Year. benefits and the optional forms of benefit available to the Participant. Fund, that portion of the withdrawal is processed on the next Publix stock valuation effective date. allocated to an individual account on behalf of such Participant under Section419A(d)(2) of the Code; provided, however, that the contributions subject to this subsection shall not be subject to the limitation of section 7.7(a)(2); and. We are thankful for 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 any act, it shall be done and performed by or at the direction of the Board of Directors of the Company or such other Employer (or the Executive Committee as authorized by the Board) and shall be evidenced by proper resolution of such Board of (b) distributed as soon as practicable following the processing of a Participants request for distribution; provided, however, that Employer Securities cease to be so traded, the duration of the put option shall be extended by the number of days between such tenth (10th)day and the date on which notice is actually given. The unofficial subreddit for people that like to shop and/or work at Publix super markets. prepared a Summary Plan Description (if required by law) and such periodic and annual reports as are required by law. 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). 9.8 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 Employer, regardless of whether the Participant has incurred a One Year Break in Service on such date, upon such Participants Normal Retirement Date. 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). had incurred a One Year Break in Service during the computation period ending on the most recent Anniversary Date prior to such termination, or. provide the specified information. Distributees Eligible Rollover Distribution; provided, however, that effective January1, 2008, with respect to a nonspouse beneficiary, an Eligible Retirement Plan shall mean an individual retirement account described in For purposes of 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