Coming together as One Publix with One Purpose can help us be successful.
From the time the doors opened at his very first store, George Jenkins wanted his associates to share in the ownership of his business. You see, Mr. George knew that when you own something, you take better care of it and become invested in its success.
So, one way Mr. George decided to give associates ownership of Publix was through the Employee Stock Ownership Plan, a retirement plan we refer to as our PROFIT Plan. Associates with a PROFIT Plan balance own Publix stock and directly receive dividends on their stock.
Today, because of our PROFIT Plan, Publix is the largest employee-owned company in the nation. As owners, we know it takes all of us working together as a team to make Publix successful. And when Publix is successful, the value of Publix stock can grow and, in turn, our PROFIT Plan accounts can grow.
2018 PROFIT Plan results
For 2018, Publix contributed 8 percent of associates’ eligible wages to the PROFIT Plan. More than 134,000 full- and part-time associates shared in Publix’s contribution to the PROFIT Plan for 2018. The value of the average contribution was $2,550 per associate. This contribution was made by Publix at no cost to our associates.
You automatically participate in the PROFIT Plan after completing one year of employment during which you reach 1,000 or more work credit hours. As a participant, you shared in Publix’s contribution to the PROFIT Plan for 2018 if you reached 1,000 or more work credit hours during your anniversary year that ended in 2018. If you aren’t vested in your PROFIT Plan account, you also had to be employed with Publix as of Dec. 31, 2018.
In addition to the Publix contribution, the value of Publix stock increased 3.5 percent for the 2018 plan year, excluding dividends. This percentage is based on the $1.45 increase (from $41.40 per share to $42.85) in the value of Publix stock for the fiscal fourth quarter ended Dec. 30, 2017 (stock valuation effective March 1, 2018), through the fiscal fourth quarter ended Dec. 29, 2018 (stock valuation effective March 1, 2019).
Over the last 10 years, the growth of Publix stock has averaged 10.3 percent per year (excluding dividends and determined as of March 1, 2019). Please remember, past performance is no guarantee of future results.
Learn more about the PROFIT Plan on PASSport.
The 2018 Publix Retirement Benefit Summaries for eligible associates will be available on PASSport by the end of April (posted to the Retirement tab under My Documents). The summary shows the activity in your PROFIT Plan account for 2018 and your total retirement program balance with the 401(k) SMART Plan as of Dec. 31, 2018. Associates also can view their PROFIT Plan account balance by visiting Publix Stockholder Online or the SMART Plan website.
