1.34 Normal Retirement Date shall mean the date on which a Participant attains the age of sixty (60)years. claims related to total and permanent disability under section 8.2, the following procedures shall apply: (1) Claims for entitled to rely upon all valuations, certificates, reports or other information furnished by any accountants or administrators for the Plan, the Trustee or any investment manager(s) and upon the opinions of legal counsel, to the extent such Payments on account of the payment by the Company or an Employer shall not be deemed a contribution to this Plan. 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. About Publix Publix FAQs Stockholder Selling 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 Selling Stock FAQ How do I sell stock? If, in any Plan Year, any Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a Distributee, or the joint lives (or life expectancies) of the Distributee and the Distributees designated beneficiary, or. For more information, please see our 1.29(a)(5), as the case may be, and under this section1.29(a)(3). 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, The Administrator shall have complete control over the administration of the Plan herein embodied, with all powers 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. Has anyone ever done this? include any appreciation, depreciation, dividends, other income or loss attributable to the Plans investment in Employer Securities. 14.2 Amendment of Plan. Account or Accounts shall mean, as required by the context, the entire amount held from time to time for the benefit of any one Participant, or the portion thereof attributable to a Investments Accounts in accordance with the terms of section 9.2 and the Trust. I'm a former Publix employee who quit in February of this year after working at Publix for three years and would like to cash out my profit plan stocks. distribution is in excess of the amount required to relieve the financial need or to the extent such need may be satisfied from other resources that are reasonably available to the Participant. Register for a Publix Stockholder Online account. The Trust may from time to time be amended in the manner therein provided. fiduciary or any other person; and. The definition of significant natural disaster shall be determined at the discretion of the Administrator based on factors including, but (2)the Participant had reentered the 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. assets of the Trust. provided in section 9.4, his beneficiary shall be entitled to a death benefit in an amount equal to one hundred percent (100%)of the balance in his Accounts as of the Valuation Date immediately preceding or concurring with the date of his Code as in effect prior to January1, 1997; and. a levy of the Internal Revenue Service. satisfy an immediate and heavy financial need on the basis of all relevant facts and circumstances. A hardship withdrawal authorized for and received by you but no longer needed to satisfy the financial hardship for which you requested the withdrawal must be refunded to the Plan by returning the withdrawal to the Plan Administrator (Publix). The required minimum distribution for the Participants first distribution calendar year will be made on or before Ownership Plan shall mean January1, 2007. Cookie Notice The fastest and easiest way is to register for a Publix Stockholder Online account. 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. Publix Asset Management Company 2023. Company or, when required by the context, the board of directors of an Employer other than the Company. 7.4 Adjustments to 3.1 Exclusive Benefit. 10.4 Minimum Distribution. distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. 10.1 Diversification Distributions. 4.3 Direction of Trustee. retirement, death, total and permanent disability, or severance of employment as a diversification distribution. 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302 TypicalSeminole 6 yr. ago 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. 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 distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. 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 of any voluntary appeal procedures offered under the Plan, the claimants right to obtain information about such procedures, a statement regarding the claimants right to bring a civil action under Section502(a) of ERISA, if Publix Super Markets, Inc. 401(k) SMART Plan, or other circumstances permitted under Section415 of the Code, the Annual Additions attributable to Employer contributions for a particular Participant (including savings and matching contributions 1.44 Trust shall mean the Publix Super Markets, Inc. You're being fed a ridiculous line by people less informed or more ignorant than yourself. Notwithstanding the foregoing provisions of this. Notwithstanding the preceding, (A) an hour for which an Employee is directly or indirectly paid, or entitled to payment, Talk to any financial planner and they'll tell you this is a terrible idea. (b) If any such Employer Securities, when provided in section 8.1, 8.2 or 8.3. Participants Accounts and Allocation of Contributions. Employer or any Affiliate and the aggregate Annual Additions to such plans, under the normal administration of such plans, would otherwise exceed the limits provided by law, then the Plan Administrator shall take such actions, applied in a uniform In determining Hours of Service under the foregoing section 1.29(a)(4) and section 1.29(a)(5), Employees determined to be exempt by an Employer or an by a national securities association registered under Section15A(b) of the 1934 Act, or, if so listed or quoted, are then subject to a trading limitation (a restriction under any federal or state securities law, any regulation thereunder or (b) by reasonable Date immediately following the completion of the Employees first Year of Service (as defined for purposes of Article V). Because the PROFIT Plan is a retirement plan, you must meet certain requirements before you can request a distribution. 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. 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. Publix Super Markets, Inc. 401(k) SMART Plan, if necessary to comply with such limits, before any adjustments may be made to this Plan. If you have an individual or joint account, the fastest and easiest way is to register for a Publix Stockholder Online account. 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 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 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? time in the manner provided in the Trust. week payroll period immediately preceding the unpaid period for which Hours of Service are being given hereunder; or in any case in which the Administrator 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. beneficiary and shall receive the full amount of the death benefit attributable to the Participant unless the Eligible Spouse consents or has consented to the Participants designation of another beneficiary. 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 Any Employer, in its sole and absolute discretion, may permanently discontinue making contributions under this care that are not elective cosmetic in nature incurred by the Participant or his spouse or children or necessary for such persons to obtain such uninsured medical care. 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 4.9 Final Authority. It is the present intention of the Company to maintain the Plan set forth herein indefinitely. For purposes of this section Where the time period for the notice of denial of a claim is extended because additional information is needed, the period during which the Administrator must render a decision shall stop running from the time the 6.6 Inclusion of Ineligible Employee. have elected to receive their distributable benefits in the form of installment payments (as such payment optionpreviously existed in the Planprior to November1, 2005). successor statute. 1.22 ERISA All such Vested Interests shall be nonforfeitable. while continuing his employment) the Valuation Date coincident with or next following the last day of the twelve consecutive month period beginning with the Participants Anniversary Date during which he again accrues more than 500 Hours of