Publix Super Markets 401(k) match, vesting and fees
What Publix Super Markets' 401(k) plan says about matching contributions
The Company may make a discretionary annual matching contribution to the accounts of eligible participants of the Plan as determined by the Company’s Board of Directors. During 2024 and 2023, the Company’s Board of Directors approved a match of 50% of an eligible participant’s annual contributions up to 3% of eligible annual compensation, not to exceed a maximum match of $750 per participant. The match is determined as of the last day of the Plan year and funded by the Company in the subsequent Plan year. The match was paid by the Company in cash and invested in accordance with eligible participants’ investment allocations at the time the match was funded.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 28 ↗ |
| Match vesting | Participants are immediately vested in their contributions and earnings thereon. Company matching contributions and earnings thereon are generally 100% vested upon completing three years of credited service, reaching age 60, total disability or death. Matching contributions cannot be withdrawn or distributed until vested. | Audit report, p. 29 ↗ |
| Loans | All actively employed participants with available account balances may apply for a loan from their Accounts. The minimum amount a participant may borrow is $1,000. The maximum amount a participant may borrow is the lesser of: 1) 50% of the balances in the participant’s Savings Contributions Account and vested Matching Contributions Account; or 2) $50,000, less the participant’s highest outstanding loan balance during the previous 12 month period. However, the value of any shares held by the participant in the Publix Stock component of the Publix Stock Fund cannot be borrowed. Participants may initiate one loan each year and may only have one outstanding loan at a time. All administration costs incurred as a result of a loan are paid by the participant. The interest rate is determined by Voya Institutional Plan Services, the third-party Plan Administrator, each month based on the United States (U.S.) prime interest rate as published in the Wall Street Journal as of the last business day of the prior calendar month. The interest rate on a loan is fixed for the term of the loan. Participant loans are classified as notes receivable from participants in the statements of net assets available for plan benefits and measured at their unpaid principal balance plus any unpaid accrued interest. | Audit report, p. 29 ↗ |
| Recordkeeper | Voya Institutional Plan Services | Schedule C ↗ |
| Independent auditor | KPMG, LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 22 defined-contribution plans in retail trade with 50,000 or more participants.
| Publix Super Markets: employer contribution per participant | $368 | |
| Peer median | $1,179 |
| Publix Super Markets: average balance | $59,365 | |
| Peer median | $58,043 |
| Publix Super Markets: admin expenses ÷ assets | 0.03% | |
| Peer median | 0.09% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $6.1B at the end of plan year 2021 to $8.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 239,138 | $8.1B | $49.9M | $368 | 0.03% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 225,961 | $6.6B | $47.7M | $368 | 0.04% | Not published | Form 5500 ↗ |
| 2022 | 212,580 | $6B | $45.8M | $368 | 0.04% | Not published | Form 5500 ↗ |
| 2021 | 201,897 | $6.1B | $43.6M | $359 | 0.03% | Not published | Form 5500 ↗ |
Other Publix Super Markets plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Publix Super Markets, Inc. Employee Stock Ownership Plan & Trust
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | KPMG LLC (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
Common questions
Does Publix Super Markets match 401(k) contributions?
The audit report attached to the Publix Super Markets, Inc. 401(k) Smart Plan's plan year 2024 Form 5500, page 28 says: “The Company may make a discretionary annual matching contribution to the accounts of eligible participants of the Plan as determined by the Company’s Board of Directors. During 2024 and 2023, the Company’s Board of Directors approved a match of 50% of an eligible participant’s annual contributions up to 3% of eligible annual compensation, not to exceed a maximum match of $750 per participant. The match is determined as of the last day of the Plan year and funded by the Company in the subsequent Plan year. The match was paid by the Company in cash and invested in accordance with eligible participants’ investment allocations at the time the match was funded.” Plan terms may have changed; check your current Summary Plan Description.
When is the Publix Super Markets 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Participants are immediately vested in their contributions and earnings thereon. Company matching contributions and earnings thereon are generally 100% vested upon completing three years of credited service, reaching age 60, total disability or death. Matching contributions cannot be withdrawn or distributed until vested.”
Who manages the Publix Super Markets 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Voya Institutional Plan Services. The plan administrator is Publix Super Markets, Inc..
I left Publix Super Markets. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Publix Super Markets, Inc., (863) 688-1188) or the recordkeeper, Voya Institutional Plan Services. The Publix Super Markets old 401(k) page lists the contacts from every plan filing. Find an old Publix Super Markets 401(k)
Data from the public Form 5500 annual reports Publix Super Markets filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Publix Super Markets. Not financial advice. Report a correction · Methodology