What is qjsa

Qualified joint and survivor annuities are part of most qualified plans, like k s and profit-sharing plans. The owner of the plan may opt for a lump sum instead of a regular income, but this is allowed only if the beneficiary consents to this in writing. The surviving beneficiary may also waive their QJSA benefit, which they might choose to do if there is another plan that will pay them a post-retirement income instead.

The world of insurance can be complicated. Subscribe to the Insuranceopedia newsletter and stay in the know! Access expert content, industry term definitions and answers to your questions from knowledgeable insurance insiders. Arm yourself with what you need to know to keep your assets and your family safe.

By: Kaitlyn Kokoska. By: Steven Porrello. Insurance Crime Prevention Bureau. Insuranceopedia Terms. Insurance Tips for Newlyweds. First Time Buying Car Insurance? Here's What to Do. A Look at Uninsurable Risk. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products.

List of Partners vendors. Your Money. Personal Finance. Your Practice. Popular Courses. Retirement Planning Annuities. Annuities Annuity Definition and Guide.

Key Takeaways A qualified joint and survivor annuity provides lifetime payments to spouses, children, or dependents. If the participant is in poor health, a QJSA may not be a good investment. Article Sources. Investopedia requires writers to use primary sources to support their work.

These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Benefit offset is a reduction in the amount of payments received by a member of a retirement plan when the member owes money to the plan.

In a divorce, a qualified domestic relations order QDRO requires that a portion of retirement account assets be paid over to a former spouse. A joint and survivor annuity is an insurance policy for couples that continues to make regular payments for as long as either spouse lives.

How Does a Pension Plan Work? A pension plan is an employee benefit that commits the employer to make regular payments to the employee in retirement. Partner Links. Related Articles. Investopedia is part of the Dotdash publishing family.