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Waiver of QJSA - Remaining Options


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Guest Statler

Say a plan has two options for their forms of distribution - QJSA and lump sum. If the plan allows for in-service withdrawals (with spousal consent), can these be limited to lump sum so that if a participant wants an annuity payment under the plan it must be a QJSA at retirement age and only lump sum before then?

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It is my understanding that if the plan is subject to the QJSA requirements, if the value of the total benefit is worth at least $5,000, then there are no circumstances under which lump sums can be paid without proper spousal consent. None. Further, as of any age at which a lump sum can be elected, an immediate QJSA must be offered or the spousal consent would not be valid.

Always check with your actuary first!

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