Withdrawals & Distributions

Hardship withdrawal

You can request a distribution from the PROFIT Plan prior to retirement if you have a financial hardship.

Permitted hardship withdrawal situations

• Medical expenses not covered by insurance for you, your spouse or children
• Closing costs for the purchase of your primary residence, up to a maximum of $20,000, limited to once per plan year (Jan. 1 – Dec. 31)
• Educational expenses for tuition or other related educational fees including on-campus room and board expenses for up to 12 months of post-secondary education for you, your spouse or children
• Eviction or foreclosure; payments to prevent eviction from or foreclosure on the mortgage of your primary residence, limited to once per plan year (Jan. 1 – Dec. 31)
• Funeral expenses for your spouse, child, parent (or parent-in-law), grandparent (or grandparent-in-law) or any other family member who resides in your household preceding such family member's death
• Disaster expenses to repair your or your family member's primary residence or  personal vehicle damaged as a result of and while in an area designated by the federal government as a disaster area, when determined and authorized by Publix

Distributions

You're eligible to take a distribution from the PROFIT Plan if you're vested when you separate from employment with Publix.

If your plan balance is

• more than $1,000, you must take distribution prior to the April closed period following the calendar year in which you reach age 62  
• less than $1,000, you must take a distribution

Distribution options

Distributions are made in the form of Publix stock. The distribution options are:

• Lump sum – distribute the Publix stock in your account to an individual stock account in your name to
  • sell in the future or  
  • sell some or all of it immediately — referred to as a “put option”
• IRA rollover – distribute the Publix stock in your account to an IRA account held with an IRA custodian who has agreed to hold Publix stock

Distribution calendars

To find the PROFIT Plan distribution dates, reference the or 2024 distribution calendar  to see 

• when forms are due
• when distributions occur and
• the closed periods schedule.

Tax consequences

For more information on hardship withdrawal, distribution and rollover options and the associated tax consequences, review the

• Summary Plan Description in your Associate Benefits Book, Volume Two or
• PROFIT Plan Special Tax Notice.

The tax rules that apply to your individual circumstances can be complex. Please consult a qualified financial planner or tax adviser for advice.