Jim Chad

Non QJSA 403(b) spousal waiver for beneficiary

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Jim Chad    9

Non QJSA 403(b) spousal waiver for beneficiary - Participant found on line where she does not need spousal waiver if Husband is 50% beneficiary. Is this correct? If this is not right, where can I find in writing the rest of the story?

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hr for me    57

I found some information on 401khelpcenter.com (search spousal waiver and the article is Retirement Beneficiary Designations), which is how I originally read the topic title that discusses the 50% beneficiary information but it is for 401k's. Not sure whether the same applies to your 403b, but I could see her searching and finding this article as I found it pretty easily.

I'd definitely ask for her "found on line" source! I wish I could link directly, but I've never been able to do that....

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To the extent that the 403(b) is covered by ERISA (not all of them are), it would need to comply with the requirements of ERISA § 205, 29 USC § 1055. One of that section's requirements for avoiding QJSA/QPSA requirements is:

such plan provides that the participant’s nonforfeitable accrued benefit (reduced by any security interest held by the plan by reason of a loan outstanding to such participant) is payable in full, on the death of the participant, to the participant’s surviving spouse (or, if there is no surviving spouse or the surviving spouse consents in the manner required under subsection ©(2) of this section, to a designated beneficiary)
Edited by Carol V. Calhoun

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