J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

7.11 Survivor Annuity for Spouse

If you have been married for at least a year as of the annuity starting date, the law generally requires that payments to you of vested benefits be in a specific annuity form to protect your surviving spouse. All defined benefit and money purchase pension plans must provide benefits in the form of a qualified joint and survivor annuity (QJSA) unless you, with the written consent of your spouse, elect a different form of benefit. A qualified joint and survivor annuity must also be provided by profit-sharing or stock bonus plans if you elect a life annuity payout or the plan does not provide that your nonforfeitable benefit is payable in full upon your death either to your surviving spouse, or to another beneficiary if there is no surviving spouse or your spouse consents to the naming of the non-spouse beneficiary.

Under a QJSA, you receive an annuity for your life and your surviving spouse receives an annuity for his or her life that is no less than 50% of the amount payable during your joint lives. You may waive the QJSA only with your spouse’s consent. Without the consent, you may not take a lump-sum distribution or a single life annuity ending when you die. A single life annuity pays higher monthly benefits during your lifetime than the qualified joint and survivor annuity. If benefits begin under a QJSA and you divorce the spouse to whom you were married as of the annuity starting date, that former spouse will be entitled to the QJSA survivor ...