PROFIT Plan hardship withdrawal for Alabama and Georgia severe weather
Jan. 23, 2023
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 severe storms, straight-line winds and tornadoes in 5 Alabama and 7 Georgia counties declared major disaster areas by President Biden.
Eligible counties
The following Alabama and Georgia counties were declared as major disaster areas beginning Jan. 12, 2023:
- Alabama: Autauga, Coosa, Dallas, Elmore and Hale
- Georgia: Butts, Henry, Jasper, Meriwether, Newton, Spalding and Troup.
Residents in these counties are eligible for the Federal Emergency Management Agency (FEMA) Individual Assistance Program. For additional information, visit FEMA.gov.
What the PROFIT Plan hardship withdrawal helps cover
The PROFIT Plan helps cover damages to the primary residences, personal vehicles or both for eligible associates and/or their eligible family members. The costs covered include insurance deductibles and uninsured repairs.
Eligibility
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
This provision will expire Sept. 27, 2024.
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
- March 10 – 31, 2023
- May 5 – June 30, 2023
- Aug. 11 – Sept. 29, 2023
- Nov. 10 – Dec. 22, 2023
- March 8 – 29, 2024
- May 10 – June 28, 2024
- Aug. 9 – Sept. 27, 2024