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"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?"

A QJSA pays a level benefit each month until the primary annuitant (The Empoloyee) dies. After this event, the secondary annuitant (The Spouse) receives some percentage (usually 50%, depending on the Plan) of the original level benefit for the remainder of his/her lifetime.

Pros:

Financial security to the spouse of a primary earner in the event that the primary earner dies and the spouse can no longer maintain his/her standard of living.

Cons:

Depending on the age difference of the Employee and Spouse, usually provides a lesser annual benefit. The younger the Spouse is, the lesser the benefit will be. (Makes sense, given that they will receive more payments)

Hope this sheds some light. As always, check the provisions of the 401(k) Plan.
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