Eligible associates can view their Retirement Benefits Summary and Lifetime Income Disclosure, which come out each March, on PASSport by visiting the My Documents page and then selecting the Retirement tab. There, you’ll also find an explanation of your summary, which covers the details of the document.
What is a Retirement Benefits Summary and Lifetime Income Disclosure?
The Retirement Benefits Summary and Lifetime Income Disclosure is your annual PROFIT Plan account statement. You receive a Retirement Benefits Summary and Lifetime Income Disclosure every year you receive a PROFIT Plan contribution or have a balance in your PROFIT Plan account.
Your Retirement Benefits Summary shows your beginning balance in the PROFIT Plan, Publix’s contribution to the PROFIT Plan, investment earnings or losses and your PROFIT Plan balance at the end of the plan year. It also shows the eligible wages your PROFIT Plan contribution was based on, your vesting status, your 401(k) year-ending balance and your overall retirement program balance.
The Lifetime Income Disclosure shows you the monthly income you could collect at retirement based on your current account balance in the PROFIT Plan.
What’s new this year?
Your Retirement Benefits Summary includes your primary and contingent beneficiaries for both the PROFIT Plan and 401(k) SMART Plan.
Your Lifetime Income Disclosure is being combined with your Retirement Benefits Summary.
What if I’m not eligible?
If you aren’t eligible for a Retirement Benefits Summary, you will have an opportunity to learn more about all of the great benefits Publix offers our associates in June at the Annual Benefits Meeting.
If you have questions about your updated Retirement Benefits Summary and Lifetime Income Disclosure, talk to your manager or call retirement at (863) 688-7407, ext. 52327. For those outside the Lakeland calling area, dial 1-800-741-4332 (toll-free).
What’s in a summary?
Your Retirement Benefits Summary includes the following information about your PROFIT Plan and 401(k) SMART Plan for the 2023 plan year, Jan. 1 to Dec. 31.
PROFIT Plan
- beginning balance
- Publix contribution
- investment earnings or losses
- ending balance and
- vested status in the PROFIT Plan.
401(k) SMART Plan
- account balance and
- vested status in your 401(k) match (if any).
Be sure to carefully review your summary’s information.
If you have questions about your updated summary, talk to your manager or call retirement.
