Annuity Provider

[Guest C.Meyers]

We are searching for a company that will provide an annuity with a QJSA option without a participant signature. Is anyone aware of a company that does this?

According to the ERISA regulations, in a plan termination situation, it is permissible to force out all participants regardless of their balance. However, for plans with a joint and survivor annuity requirement (i.e. money purchase plans), an annuity must be purchased on the participants' behalf in order to be relieved of fiduciary responsibility. We have asked all of the investment advisors and insurance companies that we typcially work with and none can supply us with an annuity without a participant signature.