Guest annie1 Posted September 23, 2008 Posted September 23, 2008 Is there a new rule that when offering a lump sum sponsors are required to show the immediate annuity version of the 75% J&S even when it is an optional form and not the normal form for married participants? The QJSA always had to be shown at the immediate age, not sure about the optional form.
Effen Posted September 23, 2008 Posted September 23, 2008 Close, but not exactly right. Do a search on this board as there are lots of prior discussions about this. It really depends on how your current QJSA is defined. If the QJSA is a J&50, then you probably need to add a J&75 QOSA (qualified optional survivor annuity). If you QJSA is defined as a J&100, then you can use the J&50 as the QOSA. There is a little more to it, but that is the general idea. And yes, anytime you offer a lump sum you need to also offer an immediate QJSA and now QOSA. Also, don't forget the relative value disclosures. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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