Qualified Joint And Survivor Annuity - QJSA

Dictionary Says

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 Says

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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Annuity

    A financial ...
  2. Annuitant

    A person who ...
  3. Beneficiary

    Anybody who ...
  4. Death Benefit

    The amount on a ...
  5. Life Annuity

    An insurance ...
  6. Annuitization Phase

    The period when ...
  7. 403(b) Plan

    A retirement ...
  8. 401(k) Plan

    A qualified plan ...
  9. Defined-Benefit Plan

    An ...
  10. National Average Wage Index - NAWI

    An index ...

Articles Of Interest

  1. 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. An Overview Of Annuities

    These contracts provide a guaranteed income stream. Learn how they work and their benefits.
  3. Find High Yield CDs

    Retire in style. Search for the 100 highest yielding CD's from Bankrate.com. Click Here!
  4. Selecting The Payout On Your Annuity

    Make sure you understand your options for withdrawing your funds from this complex instrument.
  5. 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.
  6. Market Capitalization Defined

    Find out the differences between mega-, large-, mid- and small-cap stocks and how each suits different investing styles.
  7. In Small Business, Success Is Spelled With 5 "C"s

    Incorporating these steps will help your business thrive in a competitive market.
  8. Retirement Savings Tips For 35- To 44-Year-Olds

    Learn how the "sandwich generation" can save for retirement while taking care of their kids and parents.
  9. Is Loan Protection Insurance Right For You?

    This coverage can keep you from defaulting on your loans when you're in financial trouble.
  10. Selecting And Managing Insurance Payouts

    Find out which settlement option is right for you before you recieve your funds.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center