PROFIT Plan hardship withdrawal for Alabama severe weather
May 06, 2021
The PROFIT Plan, our employee stock ownership plan, has temporarily expanded its hardship withdrawal provision to assist Publix associates and/or their family members affected by the severe storms, straight-line winds and tornadoes in Alabama on March 25 – 26, 2021.
On April 26, 2021, President Biden declared Bibb, Calhoun, Clay, Hale, Jefferson, Perry, Randolph and Shelby counties as major disaster areas. Additional counties may be added to this list should the Federal Emergency Management Agency (FEMA) expand the declaration.
- What it helps cover: Damages to the primary residences, personal vehicles or both for eligible associates and/or their family members as a result of the severe weather in Alabama on March 25 – 26, 2021. The costs covered include insurance deductibles and uninsured repairs.
- Eligibility: In order to receive a hardship withdrawal, you must be an active associate who
- is vested in your PROFIT Plan account and
- has no other means to satisfy your financial hardship, including
- money that is readily available through assets you own or
- financial assistance available through FEMA and/or individual insurance policies
- Expiration date for this temporary provision: Sept. 23, 2022
- Request form and information: Contact the retirement department at 863-688-7407, ext. 52327; outside the Lakeland calling area dial toll-free 1-800-741-4332. Supporting documentation for the amount requested to satisfy the financial hardship must be submitted with the form.
- Distribution of funds if approved: Approved distributions are made from the PROFIT Plan on Fridays during open periods, which are
- May 7 – June 25, 2021
- Aug. 6 – Sept. 24, 2021
- Nov. 5 – Dec. 17, 2021
- March 11 – 25, 2022
- May 6 – June 24, 2022
- Aug. 5 – Sept. 23, 2022