Spousal consent required?

[Guest Lisha]

For a nonqualified deferred compensation program, to what degree is spousal consent required prior to a distribution?

[smm]

What does the plan say?

[mbozek]

Spousal consent is not required under a nonqualfied plan subject to ERISA.

[smm]

Once again, what does the plan say. I have seen nonqualified plans that require spousal consent for the form of distributin (installment vs. lump sum).

[david rigby]

All answers above are correct.

[Yesrod5]

And am I correct in believing that an existing nonqualified plan that included a provision requiring spousal consent to the naming of a beneficiary other than the spouse could be amended to delete that requirement? It would seem to me that just as 411(a)(11) and 417 are not applicable to nonqualified plans neither is 411(d)(6).

Am I on track here?

[Yesrod5]

One correction - - meant to say "401(a)(11) and 417"

[david rigby]

Neither 411 nor 417 will have any effect on a NQ plan's requirement w/r/t spousal consent. Neither will inhibit the plan in including or excluding or changing such provision.

The plan itself might include a provision that could affect (yes, that is the correct word) the ability to change any such provision.

[SycamoreFan]

Remember to consider requirements in community property states.