QLACs purchased by married taxpayers must comply with the
qualified joint and survivor annuity and the qualified preretirement survivor annuity rules, but a spouse may agree to waive these requirements.
401(a)(l 1)
qualified joint and survivor annuity and qualified preretirement annuity requirements.
Waiver of the right to receive a
qualified joint and survivor annuity or a qualified preretirement survivor annuity (see Q 339) by a nonparticipant spouse is not treated as a taxable transfer by such spouse if the waiver is made before the death of the participant spouse.
Qualified joint and survivor annuity (QJSA)--The spouse's survivor benefit under the plan's default QJSA may be not less than 50% and not more than 100% of the joint benefit.
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).
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).
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.
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.
A's interest in X is in the form of a
qualified joint and survivor annuity.
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.
