5.1 Current Participants. 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 includible in gross income. 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. partially, at any time without any liability whatsoever for such permanent discontinuance or complete or partial termination. Section8.4. By registering for a secure and confidential Publix Stockholder Online account, you can access and manage your Publix stock and PROFIT Plan accounts online. References to a specific section of ERISA shall include references to any successor provisions. 6.4 No Duty to Inquire. our customers and associates and continue remaining deeply dedicated to customer service and community involvement, and being a great place to work and shop. bears to the sum of the average monthly balances in the Other Investments Accounts during the Valuation Period ending with the current Valuation Date of all Participants who are entitled to share in such earnings. Due to legal requirements that prevent us from accepting digital signatures, we often require the printed form with your original signature and date. Any Employer, in its sole and absolute discretion, may permanently discontinue making contributions under this offset of all or part of the amount ordered or required to be paid to the Plan against the Participants benefits provided under the Plan. 1.21 Employer Securities shall mean common stock, any other type of stock or any marketable obligation Administrator shall establish and maintain with respect to each Participant two accounts, designated as a Company Stock Account and an Other Investments Account, that shall reflect the Participants interest in the Trust Fund. person entitled to the shares). on Annual Additions, the special rules of Section415(h) of the Code shall apply. 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 (2) the amount with respect to which a diversification distribution was previously But if they decide to sell the stock, they can sell it only to Publix. Excess Annual Additions shall be disposed of as provided in section 7.7(c). 7.5 4.11 Appointment of Advisors. 52323 Toll-free: 1-800-741-4332 Fax: (863) 284-3302. accounting shall be used, and the Trust Fund, each separate portion of the Trust Fund and the assets thereof shall be valued at their fair market value as of each Valuation Date. Another $2000 lost! Im aware that cashing out on my profit plan will cause it to be heavily taxed and Im willing to take the hit. Not in limitation, but in amplification of the foregoing, the Administrator shall have the power and discretion to interpret or construe this Plan and to determine all questions that In the 1.40 Plan Year shall mean the 12-month period ending on each December31. 1.42 Section 415 Suspense 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 Im super stressed. (B) For a Participant who (i)receives an allocation of Employer contributions, Will I still have access to the stockholders site after Ive left Publix? Administrator and applied on a uniform basis to all plans in the applicable aggregation group. The Plan Administrator shall provide each Participant entitled to a distribution of more than $1,000 with a written notice of his rights, which shall include an explanation of the alternative dates for distribution of Employees may . and additional contributions unless: (1) such Participant has been credited with a Year of Service as of the date preceding 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 PUBLIX SUPER MARKETS, INC. 401 (K) SMART PLAN is a DEFINED CONTRIBUTION PLAN. The Plan Administrator shall prepare or cause to be Currently, we are not able to service customers outside of the United States, and our site is not fully available internationally. if the crediting is necessary to prevent a One Year Break in Service in such 12-month period or, in any other case, in the immediately following 12-month period. The Administrator 14.3 Termination of Plan. liabilities of the Trustee without its written consent. This Plan and the Trust are intended to qualify under the Code as a tax-free employees plan and trust, and particularly as an employee stock ownership plan within the meaning of Section4975(e)(7) of the Code, and the simply don't have faith that they won't further decline in value. (2) April1 of the year immediately following the calendar year in which the not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. (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 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 Heads up to anyone holding onto the $1000 or so worth of stock you're left with if you leave immediately after becoming vested and thinking they'll be a millionaire by retirement age. Service or is eligible to resume participation in the Plan under section 5.3, (iv)terminated from employment as an Employee of an Employer during the Plan Year ended December31, 2007, after completing at least two (2)Years of 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 After payment of all expenses and proportional adjustments of individual accounts to reflect such expenses and other changes in the percent (100%)of the Participants Section415 Compensation for such Limitation Year. of the Participants birthday in the distribution calendar year; or. Amounts attributable to the Investment Fund shall be invested by the Trustee in the manner medical benefit account that is part of a pension or annuity plan established pursuant to Section401(h) of the Code; provided, however, that the contributions subject to this subsection shall not be subject to the limitation of section For more information, current Publix associates can visit PASSport. the distribution calendar year that includes the Participants date of death. 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. 3.1 Exclusive Benefit. Employee Stock Ownership Plan, commonly known as the Publix PROFIT (1) Claims for benefits under the Plan may be made by a Participant, 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 You can also fax or mail a letter of instruction to Publix stockholder services that includes the. the employ of his Employer, no retirement benefits shall be payable to him, and he shall continue to be treated in all respects as a Participant. 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. 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. Participant is entitled under section 8.1, 8.2, 8.3, or 8.4 shall be paid to him or, in the case of a death benefit, shall be paid to the Participants beneficiary or beneficiaries, beginning as soon as practicable following the 6.6 Inclusion of Ineligible Employee. 7.4 Adjustments to any, to be made during the period beginning not later than the date the amendment is adopted and ending no earlier than sixty (60)days after the latest of the date the amendment is adopted, the amendment becomes effective, or the Participant designate a beneficiary to receive his death benefit and to revoke any such designation. The definition of significant natural disaster shall be determined at the discretion of the Administrator based on factors including, but 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 death, increased by the amount of contributions, if any, made by his Employer to, and decreased by any distributions made to the Participant from, the Participants Accounts subsequent to such Valuation Date. To the extent permitted satisfy a financial need if the Administrator reasonably relies upon the Participants representation that the need cannot be relieved, (a) through reimbursement or compensation by insurance or otherwise; or. 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. WHEREAS, the Company has determined that it is advisable and in the best interests of the Participants to amend is not made until after a contribution for the Plan Year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible person regardless of whether or not a deduction is allowable with respect to contribution shall be made regardless of whether or not it is deductible in whole or in part in any taxable year under applicable provisions of the Code. determining the average hours worked by a non-exempt, hourly-paid, part-time Employee for an Employer or an Affiliate during the fifty-two (52)week payroll period immediately preceding the unpaid period for which Hours of Service are being Such right of first refusal shall be subject to the following terms and conditions: (a) At the time the right of Retirement Date. to the Publix Super Markets, Inc. 401(k) SMART Plan) would cause the limitations set forth in this section 7.7 to be exceeded, the excess amount shall be held unallocated in the Section415 Suspense Account for the Plan Year and reallocated Yes, youll receive an account statement when you sell stock. determines in its sole discretion that it is appropriate to hold a hearing, require an extension of time for processing, in which event a decision shall be rendered as soon as possible, but not later than one hundred twenty (120)days after the