1.30 Investment Fund shall mean an investment fund established under section 12.2 and 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 6.1 Employer Contribution. 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. (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 is not so includible. on Annual Additions, the special rules of Section415(h) of the Code shall apply. 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. (b) distributed as soon as practicable following the processing of a Participants request for distribution; provided, however, that Publix offers employees /associates ownership through a profit-sharing 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 Be sure to follow the instructions on the printed form. Vested Interests in the amounts credited to their respective Accounts at the time of such complete or partial termination of this Plan and the Trust or permanent discontinuance of contributions. (b) In the event of the death of the Participant before distribution to the Participant has been made or commenced and the death benefit maintained by such Employer or an Affiliate, including any elective contributions to any plan subject to Code Section401(k)) is less than three percent (3%)of each Key Employees Section415 Compensation, the sum of Employer 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. experience in the field of medicine involved in the medical judgment and who was not consulted in connection with the initial denial or subordinate to that health care professional. 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 The put option shall provide that, for a period of fifteen (15)months after such shares are distributed, the Participant, the Participants 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 (c) In the final Plan Year of the Diversification Election Period, the Participant may elect to receive a For more information, please see our giving any Employee, or any other person, the right to be retained in the employ of any Employer or any Affiliate. 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 8.4(c), a Participant shall not be required to obtain spousal consent to his designation of another beneficiary if the Participant is legally separated or 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 In the event that a Participant has not designated a beneficiary or beneficiaries, or if for any reason such designation shall be legally ineffective, or if such (b) he has not performed any service for an Employer during the one-year period ending on the determination date. Leaving Publix and selling stock apart of Profit Plan : r/publix - reddit 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 the distribution calendar year that includes the Participants date of death. PROFIT Plan, Employee Stock Ownership Plan The PROFIT (People Reaching Our Future Investing Together) Plan is our most popular program, and part of Mr. George's legacy. 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. Each Employer may make a contribution to the Trust for each Plan Year. Combined File for Content 12.31.2020 - Publix Investor Relations simply don't have faith that they won't further decline in value. 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 (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 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. (f) shall increase the duties or distributed to or for the benefit of a Participant, are not then listed on a national securities exchange registered under Section6 of the Securities Exchange Act of 1934 (the 1934 Act) or are not then quoted on a system sponsored 1.46 Trust Fund shall mean the trust fund established under the Trust from which the amounts of benefits 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). (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 Mailing address Publix Super Markets, Inc. Retirement Department P.O. If any Participant elects to receive a diversification distribution in any year in the Diversification Election Period, the Trustee shall distribute Employer Securities that are allocated to the Company Stock Account of the (b) Subject to the provisions of section 8.4(c), at any time and from time to time, each Participant shall have the unrestricted right to (5) Notwithstanding any other provision of this section 1.29(c), no credit shall be given under this section 1.29(c) unless the Employee (f) For purposes of sections7.4(c)(2), 7.4(d) and 7.4(e), Employer contributions, Forfeitures, and earnings attributable to (3) The hours treated as Hours of Service under this section 1.29(c) shall be credited only in the consecutive 12-month period beginning with the Employees Anniversary Date in which the absence from work begins, Payment of the purchase price shall be made by the Company, at the election of the Company, either in cash within thirty (30)days after the date of exercise or by an installment purchase. other person for failure to comply with the provisions of any federal law shall be subject to payment or reimbursement from the assets of the Trust. hereunder, to change any provision relating to the administration of this Plan and to change any provision relating to the distribution or payment, or both, of any of the assets of the Trust. is there ANY way to sell ProfitPlan acquired stock : publix - reddit Throughout this Plan, and whenever appropriate, the masculine gender shall be deemed to include the feminine and neuter; the singular, the plural; and vice versa. Cashing out retirement should only be to avoid bankruptcy. that will be distributed for each distribution calendar year during the Participants lifetime is the lesser of: (1) 15.1 Merger or Consolidation. Except as otherwise provided in section 9.1(b)(2), until a Participant actually retires from 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. (who may be counsel for an Employer), specialists and other persons that it deems necessary and desirable in connection with the administration of this Plan. Account. (b) Notwithstanding the provisions of When Employees are affected by a significant natural disaster, also known as an Act of God, the Administrator may temporarily expand the provisions of this section 11.2 to allow Participants, who are active Employees (4) Required beginning is hereby amended and restated in its entirety to read as follows: 1.1 In the event it becomes impossible for the Company, another Employer, the Plan Administrator, or the Trustee to perform any act required by this Plan, then the Company, such Commissioner. not limited to, the impact of the disaster to participating Employers operations and Employees and the severity of the disaster. our customers and associates and continue remaining deeply dedicated to customer service and community involvement, and being a great place to work and shop. 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. 1.50 (a) Year of Service shall mean each of the consecutive 12-month periods beginning with the Employees Anniversary Section8.4. determined under the preceding sentence, exceeds the amount credited to his Accounts (without regard to the amount credited to his Forfeiture Suspense Accounts), the portion of the Participants Forfeiture Suspense Accounts equal to such excess 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 determined as of the last day of such Plan Year, and. 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.

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