Ownership, especially in a company with our history of success, is one of the greatest benefits a company can offer its associates. You own a part of Publix through our PROFIT Plan.
Company ownership is an essential part of our culture. Our founder, George Jenkins, passionately believed when you own something you tend to take better care of it.
The same is true today. As company owners, we have a responsibility to contribute to Publix’s success each and every day. And, when the value of Publix stock grows, our PROFIT Plan account balances grow too.
It takes all of us working together as a team to provide our customers with the great Publix service they expect. When our customers come back to shop with us again and again, our company continues to be successful. And when Publix is successful, you benefit.
Take a share of the PROFIT
30 percent growth
A SMART match
Retirement Benefits Summary
Dividends make it even sweeter
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Take a share of the PROFIT
Publix contributed 8.5 percent of participants’ eligible wages to the PROFIT Plan, our employee stock ownership plan, for the 2013 plan year. This means Publix gave each participant one share of Publix stock for every $354.78 of eligible wages. This contribution is made by Publix at no cost to you.
You automatically participate in the PROFIT Plan after completing one year of service in which you’re credited with at least 1,000 work credit hours. As a participant, you were eligible to share in Publix’s contribution to the PROFIT Plan if you worked at least 1,000 hours during your anniversary year that ended in 2013. If you weren’t vested in your PROFIT Plan account, you had to be employed with Publix as of Dec. 31, 2013, to share in the contribution.
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30 percent growth
In addition to Publix’s contribution to the PROFIT Plan, the value of Publix stock increased 30 percent for the 2013 plan year, excluding dividends. This percent is based on the $6.95 increase (from $23.20 per share to $30.15) in the Publix stock valuation for the fiscal fourth quarter ended Dec. 29, 2012 (stock valuation effective March 1, 2013), through the fiscal fourth quarter ended Dec. 28, 2013 (stock valuation effective March 1, 2014).
Over the last 10 years, the growth of Publix stock has averaged 11.3 percent per year (excluding dividends, determined as of March 1, 2014, and adjusted for the 5-for-1 stock split on July 1, 2006). Please remember, past performance is no guarantee of future results.
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A SMART match
Another way Publix helps you save for retirement is through the 401(k) SMART Plan. You can enroll in the SMART plan six months after your hire date if you’re at least 18 years old.
You were eligible to receive a matching contribution from Publix if you contributed to the SMART plan during 2013 and worked at least 1,000 hours during your anniversary year that ended in 2013. If you weren’t vested in your SMART plan matching contributions, you had to be employed with Publix as of Dec. 31, 2013, to receive a match.
For every dollar you contributed to the SMART plan in 2013, up to 3 percent of your eligible pay, Publix gave 50 cents in Publix stock to your account on March 1, 2014, up to a maximum match of $750. Your SMART plan match for 2013 will be reported on your first quarter 2014 statement from ING, the SMART plan’s recordkeeper.
You can view your SMART plan account at any time — visit www.publix.org > Financial Resources > 401(k) SMART Plan or use the ING Retire app on your smart phone. The ING Retire app is free and can be downloaded from the App Store to your iPhone or iPod Touch or from the Android Market to your Android phone with an operating system of 2.2 or above.
The SMART plan offers 12 investment fund options with a broad range of investment objectives and levels of risk. This can help you diversify your retirement savings if you choose to participate. While the match is made in Publix stock to the Publix Stock Fund, you can elect to transfer the match wherever you want among the other investment fund options. Please remember, sales of Publix stock are held and processed by the SMART plan only on Publix stock valuation effective dates, which are generally March 1, May 1, Aug. 1 and Nov. 1.
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Retirement Benefits Summary
If you had a PROFIT Plan account balance as of Dec. 31, 2012, or you shared in Publix’s PROFIT Plan contribution for 2013, your 2013 Retirement Benefits Summary will be posted on PASSport by the end of April.
You’ll also receive a printed benefits summary along with a Benefits Brief as part of your 2014 Associate Benefits Meeting to be held at your work location in June.
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Dividends make it even sweeter
Last month, Publix announced a semi-annual dividend of $0.37 per share to stockholders of record as of April 30, 2014.
PROFIT Plan: If you’re a PROFIT Plan participant, the dividend on the shares of Publix stock held in your account will be automatically deposited June 2, 2014, to your primary account as shown on PASSport, unless an alternate payment option was elected. You will not receive a printed statement for your direct deposited dividend as your PROFIT Plan dividend payment history is available on PASSport > Benefits > Retirement. If you opted out of direct deposit, your dividend check will be mailed June 2, 2014, to your work location.
If you need to update your financial institution information, visit PASSport > Pay > Direct Deposit to change your direct deposit election for your pay and PROFIT Plan dividends as soon as possible. If you wish to elect a different financial institution to direct deposit your dividends, complete, print and return to stockholder services the Direct Deposit Authorization for PROFIT Plan Dividend form available at PASSport > Benefits > Retirement > Resources > PROFIT Plan > Forms.
SMART Plan: If you’re a SMART Plan participant invested in Publix stock, the dividend on the shares of Publix stock held in your account will be automatically reinvested in the cash component of the Publix Stock Fund June 2, 2014.The dividend will purchase Publix stock on Aug. 1, 2014, unless you initiate a fund transfer on or before July 31, 2014.
Employee Stock Purchase Plan (ESPP):
If you own stock through the ESPP and elected dividend direct deposit for your stock account, your dividend will be automatically deposited June 2, 2014. A printed statement for your direct deposited dividend will be mailed to the address on file with stockholder services. If you’re not enrolled in dividend direct deposit, your dividend check will be mailed June 2, 2014, to the address on file with stockholder services.
If you need to update your financial institution information, or to enroll in dividend direct deposit, visit www.publixstockholder.com > Stockholder Services > Direct Deposit Authorization for Publix Stock Dividend Form. Download, complete, print and return the form to stockholder services as soon as possible.
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The group benefits stories in Publix News are published to assist associates in understanding Publix’s benefit plans. The information is in summary form only and does not replace the provisions in the benefit plan documents. If there is any conflict between the content of Publix News and the plans themselves, the terms of the plans will be the final authority.
