PROFIT Plan expands temporary hardship withdrawal to include associates affected by Tennessee severe weather

April 30, 2020

The PROFIT Plan, our employee stock ownership plan, has temporarily expanded its hardship withdrawal provision to assist Publix associates and/or their family members who were affected by the severe storms, flooding, straight-line winds and tornadoes in Bradley and Hamilton counties in Tennessee on April 12 – 13, 2020.

On April 24, 2020, these counties were declared major disaster areas by the Federal Emergency Management Agency (FEMA).

What it helps cover: Damages to the primary residence, personal vehicles or both for eligible associates and/or their family members as a result of the severe weather in these counties on April 12 – 13, 2020. The costs covered include insurance deductibles and uninsured repairs.
Eligibility: In order to receive a hardship withdrawal from the PROFIT Plan, you must be an active associate and vested in your PROFIT Plan account. In addition, you must not have any other means to satisfy the financial hardship. This includes money that is readily available through assets you own and financial assistance available through FEMA and individual insurance policies.
Expiration date: Sept. 24, 2021
Request form & information: Contact the retirement department at (863) 688-7407, ext. 52327. Supporting documentation for the amount requested to satisfy the financial hardship must be submitted with the form.
Distribution of funds: Approved distributions are made from the PROFIT Plan on Fridays during open periods, which are:

May 8 – June 26, 2020
Aug. 7 – Sept. 25, 2020
Nov. 6 – Dec. 18, 2020
March 12 – 26, 2021
May 7 – June 25, 2021
Aug. 6 – Sept. 24, 2021