Qualified Joint And Survivor Annuity - QJSA

AAA

DEFINITION of 'Qualified Joint And Survivor Annuity - QJSA'

An annuity payment from a qualified plan or 403(b) account that provides a life annuity to the participant and a survivor annuity for the spouse after the participant's death. QJSA rules apply to money-purchase pension plans, defined-benefit plans and target benefits. They can also apply to profit-sharing and 401(k) plans, but only if so elected under the plan.

INVESTOPEDIA EXPLAINS 'Qualified Joint And Survivor Annuity - QJSA'

The plan document usually provides the annuity percentage, but the general requirement is that the survivor annuity must be 50-100% of the annuity paid to the participant. If the participant is unmarried, the annuity is over his or her life expectancy.

Participants can waive the QJSA payment and receive lump-sum or ad-hoc distributions instead, provided the participant's spouse consents to the waiver and the spousal waiver is witnessed by a plan representative or notary public.

RELATED TERMS
  1. Life Annuity

    An insurance product that features a predetermined periodic payout ...
  2. 401(k) Plan

    A qualified plan established by employers to which eligible employees ...
  3. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt ...
  4. Annuity

    A financial product sold by financial institutions that is designed ...
  5. Beneficiary

    Anybody who gains an advantage and/or profits from something. ...
  6. Defined-Benefit Plan

    An employer-sponsored retirement plan where employee benefits ...
Related Articles
  1. Taxes

    The Tax Benefits Of Having A Spouse

    Check out the perks designed to promote and preserve your post-work savings - if you're married, that is.
  2. Home & Auto

    An Overview Of Annuities

    These contracts provide a guaranteed income stream. Learn how they work and their benefits.
  3. Options & Futures

    Selecting The Payout On Your Annuity

    Make sure you understand your options for withdrawing your funds from this complex instrument.
  4. Retirement

    403(b) Plan Tutorial

    Learn about the set-up, the contributions to and the distributions from this retirement plan for certain employees of public schools and tax-exempt organizations.
  5. Retirement

    What is an equity-indexed annuity?

    Understand what an equity-indexed annuity is, its advantages and disadvantages, and how it differs from other annuity investments.
  6. Retirement

    What happens to my annuity after I die?

    Understand the different types of annuity payment plans and what payments or additional benefits are payable to your beneficiaries after your death.
  7. It can be great to live in the moment, but the actions and decisions you make now can greatly impact your sense of financial security down the road.
    Personal Finance

    How Do Americans Keep Minimizing Their Net Worth?

    It can be great to live in the moment, but the actions and decisions you make now can greatly impact your sense of financial security down the road.
  8. You need to be patient, diligent and perseverant to be successful at investing, but more importantly, you need to start early.
    Investing Basics

    Why You Should Start Investing Early?

    You need to be patient, diligent and perseverant to be successful at investing, but more importantly, you need to start early.
  9. Many of us fantasize about winning a big lottery jackpot. Let’s say that actually happened? What would you do with the money? How would you manage it?
    Professionals

    Tips For Managing A Cash Windfall

    Many of us fantasize about winning a big lottery jackpot. Let’s say that actually happened? What would you do with the money? How would you manage it?
  10. Retirement

    Planning Ahead for 2015's Tax Law Changes

    Increased 401(k) limits can help savers put away more money for retirement in 2015—but some new restrictions are coming for IRAs.

You May Also Like

Hot Definitions
  1. Christmas Island Dollar

    The former currency of Christmas Island, an Australian island in the Indian Ocean that was discovered on December 25, 1643. ...
  2. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  3. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  4. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  5. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  6. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
Trading Center