qualified joint and survivor (QJ&S)
annuity
In the United States, a form of annuity which
provides for the continuation of pension benefits to the spouse of a
retired pension plan participant after the death of the participant.
The survivor's benefits, which cannot be less than 50 percent nor
more than 100 percent of the original benefits, continue until the death
of the spouse. This form of annuity is required in United States
qualified plans, unless the participant
(with consent of the spouse) elects to forego it.
A similar requirement, called the joint life
and last survivor (JL&S) option, applies in most
Canadian jurisdictions.
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