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Qualified Pre-Retirement Survivor Annuity (QPSA)

What is 'Qualified Pre-Retirement Survivor Annuity - QPSA'

A death benefit that is paid to the surviving spouse of a deceased employee. If the employee dies before retirement, the qualified pre-retirement survivor annuity is paid to recompense the surviving spouse for the loss of retirement benefits that would have otherwise been paid to the employee. As the name implies, QPSAs are paid only for qualified plans.

Explaining 'Qualified Pre-Retirement Survivor Annuity - QPSA'

Qualified pre-retirement survivor annuity benefits must be offered by all types of qualified plans to vested participants, including defined-benefit plans and money-purchase plans. However, the spouses must have been married for at least a year in order to be eligible for benefits. ERISA mandates how the payments for a QPSA should be calculated. Both employee and spouse must sign off on a waiver of QPSA benefits and have it witnessed by either a notary public or authorized plan representative.


Further Reading


The impact of inequality for same-sex partners in employer-sponsored retirement plans
escholarship.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

Longevity-insured retirement distributions from pension plans: Market and regulatory issuesLongevity-insured retirement distributions from pension plans: Market and regulatory issues
www.nber.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

Phased retirement for defined benefit plan participantsPhased retirement for defined benefit plan participants
digitalcommons.unl.edu [PDF]
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Does a Life Insurance Subtrust Create a Prohibited Assignment within a Qualified PlanDoes a Life Insurance Subtrust Create a Prohibited Assignment within a Qualified Plan
heinonline.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

Supporting the Oldest Old: The Role of Social Insurance, Pensions, and Financial ProductsSupporting the Oldest Old: The Role of Social Insurance, Pensions, and Financial Products
heinonline.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

A Primer on the History and Proper Drafting of Qualified Domestic-Relations OrdersA Primer on the History and Proper Drafting of Qualified Domestic-Relations Orders
heinonline.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

Marriage, Domestic Partnerships, Civil Union: The Developing Tax Landscape, Through Time: Using the Law to Support LGBT Relationships, Washington State Bar …Marriage, Domestic Partnerships, Civil Union: The Developing Tax Landscape, Through Time: Using the Law to Support LGBT Relationships, Washington State Bar …
papers.ssrn.com [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …

Estate Planning for Qualified and Non-Qualified PlansEstate Planning for Qualified and Non-Qualified Plans
heinonline.org [PDF]
… not have the option of selecting a Qualified Pre-Retirement Survivor Annuity (QPSA) or a Qualified Joint and … It also created a new mechanism for passing eligible retirement plan assets from individuals to … What kind of retirement assets do same-sex couples hold pre-retirement …



Q&A About Qualified Pre-Retirement Survivor Annuity (QPSA)


What is a QPSA?

A QPSA is a death benefit that is paid to the surviving spouse of a deceased employee.

What happens if an employee dies before retirement?

The qualified pre-retirement survivor annuity, or QPSA, will be paid to recompense the surviving spouse for the loss of retirement benefits that would have otherwise been paid to the employee.

Who can receive a QPSA from their employer?

All vested participants in qualified plans are eligible for this benefit including defined-benefit and money purchase plans. However, spouses must have been married at least one year prior to being eligible for benefits.

How do you calculate payments for a QPSA?

Both employees and spouses must sign off on waivers of these benefits and they must be witnessed by either notary publics or authorized plan representatives. ERISA mandates how payments should be calculated based on when an employee dies during his/her employment with their company. If an employee dies within five years of retirement, 100% of his/her pension will go towards paying out any outstanding debts such as mortgage loans or credit card bills; 50% goes towards paying out any outstanding debts while 50% goes directly into the beneficiary's bank account; 25% goes towards paying out any outstanding debts while 75% goes directly into the beneficiary's bank account; 0% goes towards paying out any outstanding debts while 100% goes directly into the beneficiary's bank account; and 0% goes towards paying out any outstanding debts while 100% is deposited directly into their personal bank accounts without going through probate court proceedings first. In addition, there are other factors that determine how much each party receives such as whether or not they were married at least one year prior to receiving payment

Who pays for the QPSA?

The employer.

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