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I just posted this to the 401K board but then thought that it might get additional responses from this board, so...Help!

In preparing to roll over a 401K into a self-directed IRA, I was notified that the "money purchase component" of the 401K would be paid as an annuity payment unless we complete a "spousal consent to waiver of qualified joint and survivor annuity" form (which the company has provided). I'm not sure what the deal is with this QJSA - can anyone out there shed some light on this for me? Pros/cons about it? (I spoke with a rep from the plan but couldn't make sense of what she said and the paperwork concerning it is very sparse.)

If we waive the QJSA, it appears that we can have the money purchase component paid out just as we will the other components of the plan (currently invested in several mutual funds).

Is there any reason why I would want to leave this "money purchase component" (I'm not even sure what it is!) to be paid out as a QJSA?

Help, more Foolish Fools!


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