• john1828

Publix ESOP Retirement Guide

Updated: Jun 8

Start your financial plan today.

John Lawrence is a financial advisor and founder of J.A. Lawrence Wealth Management. Over 50% of John's client's are former Employee Stock Ownership Plan (ESOP) retirees from companies like Publix, WinCo Foods, Brookshire Brothers, and more.

All former and current Publix Employees are eligible for a $1,000 financial plan from J.A. Lawrence Wealth Management.

STEP 1: Notify the Publix Retirement Department 30-45 days prior to your last day of desired employment. The Publix retirement department will mail you distribution forms.

STEP 2: The distribution forms will have three choices to select.

Choice 1: DEFER is the first choice a separating employee can select. This is an available option until that employee turns 62. Upon turning 62 the employee will have to make a choice we'll cover in choices two and three.

Choice 2: Elect to do a lump sum distribution from the Employee Stock Ownership Plan (ESOP) to a non retirement account. This option can be quite complex in regards to tax advantages and disadvantages. If you are considering this option you must thoroughly read and understand the article I wrote concerning lump sum NUA distribution rules.

Choice 3: Roll the company stock in the Employee Stock Ownership Plan (ESOP) into an IRA. Due to the private company status of Publix- the stock can't be sent to just any institution to be held. Publix also isn't allowed to suggest any institutions to send the private stock due to legal ramifications. However, Charles Schwab, is a custodian that can hold the private Publix stock.

It is very important that a retiree understands the implications of this a IRA rollover vs. the lump sum distribution choice listed above. A full retirement analysis needs to be done by a professional to weigh the options against each other.

STEP 3: After deciding which of the three best options is best for you (possibly its a blended approach) then you need to mail the distribution package back to Publix Retirement at

Publix Super Markets, Inc.

Retirement Department

P.O. Box 32040

Lakeland, Florida 33802-2040

Publix retirement department states that it will take approximately two weeks for them to process the application.

STEP 4: Understand the exact date you are looking to retire. Employees must coordinate their schedules with the distribution schedule of Publix. See schedule here.

Distributions are typically made two weeks after your separation of service date. Distributions are processed and mailed each Friday during distribution periods. Employees can also pick up their distribution the following Monday after 1 p.m.

If you have any questions regarding an Employee Stock Ownership Plan from Publix please feel free to reach out to me here.

John Lawrence, Investment Advisor and founder/owner of J.A. Lawrence Wealth Management specializes in Employee Stock Ownership Plan's (ESOP).

217 views0 comments