Why Must the Postretirement Qualified Joint and Survivor Annuity (QJSA) Be Considered?
The second type of survivor annuity under an ERISA-governed defined benefit pension plan is called the Qualified Joint and Survivor Annuity (QJSA). This surviving spouse annuity is payable if the participant predeceases his spouse after his benefit commencement date. This form of benefit can be selected at retirement or may even be automatic if the participant is married on his date of retirement. Just as with the Qualified Preretirement Survivor Annuity, this postretirement QJSA coverage can be provided to an alternate payee under a QDRO. In other words, the terms of the QDRO could effectively force the participant to select this actuarially reduced form of pension annuity at his retirement date to provide the alternate payee with a postretirement death benefit. Postretirement survivorship protection, however, may not be necessary if the QDRO states that the alternate payee is to receive her share of the benefits on an “actuarially adjusted basis to reflect her own life expectancy.” I
