Enter to open, tab to navigate, enter to select
Qualified Joint and Survivor Annuity (QJSA)
Practical Law Glossary Item 2-502-8837 (Approx. 3 pages)
Glossary
Qualified Joint and Survivor Annuity (QJSA)
The required form of payment to be paid by defined benefit plans, money purchase plan, or target benefit plans to a married participant during the participant's lifetime.
The form of the annuity must be either:
- A series of monthly payments for an unmarried participant's life.
- A series of monthly payments for a married participant's life, followed by a series of monthly payments for the participant's surviving spouse for the remainder of the surviving spouse's life.
If the spousal consent requirements of the Internal Revenue Code (Code) and the Employee Retirement Income Security Act of 1974 (ERISA) are satisfied, the participant may waive the qualified joint and survivor annuity (QJSA) as the form of payment and instead elect a different form available under the plan. If the couple divorces, the participant's benefits under the plan may need to be divided (see Practice Note, Qualified Domestic Relations Orders: Overview).
Profit sharing and 401(k) plans may but are not required to provide QJSAs if the participant's entire nonforfeitable account balance is payable to his spouse at death.
For more information on QJSAs, see Practice Note, Beneficiary Designations in Qualified Retirement Plans: Qualified Joint and Survivor Annuity (QJSA) Rules.