401(a)(l 1)
qualified joint and survivor annuity and qualified preretirement annuity requirements.
If the present value of the participant's benefit does not exceed $5,000, the plan may provide for a lump sum cash-out of the
qualified joint and survivor annuity or a qualified preretirement survivor annuity benefit.
A
qualified joint and survivor annuity is a post-retirement death
A "qualified pre-retirement survivor annuity" is an annuity for the life of the surviving spouse of the participant with payments to the surviving spouse which are not less than the payments that would have been made under the
qualified joint and survivor annuity (or the actuarial equivalent thereof), under the rules set forth in Code section 417(c).
Is there a taxable gift when a nonparticipant spouse waives the right to receive a
qualified joint and survivor annuity or a qualified preretirement survivor annuity?
QJCAs: Benefits under defined-benefit and money-purchase plans must be distributed in the form of a
qualified joint and survivor annuity (QJSA), unless the participant's spouse consents to a different form.
For example, the participant may have irrevocably elected a
qualified joint and survivor annuity.
During that period, relative value disclosure is required only for lump-sum and Period-certain installment options and if the optional form is less valuable than a
qualified joint and survivor annuity (QJSA) (or a life annuity for an unmarried participant).
Alternatively, the nonparticipant spouse could agree to allow the participant spouse to change the beneficiary, provided the former is informed of any rights being relinquished (such as the right to the required statutory portion of 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 (QJSA)?
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.
1.417 (e)-1T(b), assuming a plan has received an "affirmative distribution election" (i.e., 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.
