Thus, the REA places an increased burden of antiselection on qualified retirement plans when one considers the decision to take or pass up the default joint and survivor annuity
For example, the participant may have irrevocably elected a qualified joint and survivor annuity
First, could Dorothy, Isaac's first wife, make a testamentary transfer of her community property interest in Isaac's qualified joint and survivor annuity
The normal form of benefit for a married individual is a joint and survivor annuity
of not less than 50% nor greater than 100%.
The ex-husband remarried while still working; when he retired, he became eligible for a qualified joint and survivor annuity
(QJSA) under his employer's retirement plan that paid a fixed income for life and paid a surviving spouse half that amount.
401(a)(11) and 417 (relating to participant and spousal consent, joint and survivor annuity
requirements, and related matters).
an affirmative election as to the form of distribution, to which the spouse consents, if necessary), the employee (with spousal consent) can waive the 30-day waiting period; distributions can begin no less than seven days after the qualified joint and survivor annuity
(QJSA) notice was given to the participant.
As a component of its continued enforcement initiatives for qualified plans, the IRS has released final guidelines for use by employee plans examiners when examining plans for qualified joint and survivor annuity
and single-sum distribution issues.
Plan B includes all the optional forms of benefit available under Plan A (including the joint and survivor annuity
option) but (unlike A) also permits in-service distributions of vested benefits that have been in the participant's account for at least two years.
The value of the remaining payments under the joint and survivor annuity
as of A's date of death is $2,000,000.
401(a)(11), 411(a)(11) and 417: Correction is made by giving affected employees a choice between providing informed consent for the distribution actually made or receiving a qualified joint and survivor annuity
401(m) employer contributions, lump-sum distributions from defined benefit plans, and joint and survivor annuity