Common use of Notice Requirements For Qualified Joint And Survivor Annuity Clause in Contracts

Notice Requirements For Qualified Joint And Survivor Annuity. In the case of a Qualified Joint and Survivor Annuity, the Plan Administrator shall, no less than thirty (30) days and no more than ninety (90) days prior to the Annuity Starting Date, provide each Participant a written explanation of: the terms and conditions of a Qualified Joint and Survivor Annuity, the Participant’s right to make and the effect of an election to waive the Qualified Joint and Survivor Annuity form of benefit, the rights of a Participant’s Spouse, and the right to make and the effect of a revocation of a previous election to waive the Qualified Joint and Survivor Annuity. The Annuity Starting Date may be less than thirty (30) days after and may be before receipt of the written explanation described in the preceding paragraph provided that: the Plan Administrator clearly informs the Participant and the Participant’s Spouse that they have a right to a period of at least thirty (30) days after receiving the notice to consider the decision of whether to waive the Qualified Joint and Survivor Annuity and elect (with spousal consent) a form of distribution other than a Qualified Joint and Survivor Annuity; and the Participant is permitted to revoke any affirmative distribution election at least until the Annuity Starting Date or, if later, at any time prior to the expiration to the seven (7) day period that begins the day after the explanation of the Qualified Joint and Survivor Annuity is provided to the Participant.

Notice Requirements For Qualified Joint And Survivor Annuity. In the case of a Qualified Joint and Survivor Annuity, the Plan Administrator shall, no less than thirty (30) days and no more than ninety (90) days prior to the Annuity Starting Date, provide each Participant a written explanation of: the terms and conditions of a Qualified Joint and Survivor Annuity, the Participant’s 's right to make and the effect of an election to waive the Qualified Joint and Survivor Annuity form of benefit, the rights of a Participant’s 's Spouse, and the right to make and the effect of a revocation of a previous election to waive the Qualified Joint and Survivor Annuity. The Annuity Starting Date may be less than thirty (30) days after and may be before receipt of the written explanation described in the preceding paragraph provided that: the Plan Administrator clearly informs the Participant and the Participant’s 's Spouse that they have a right to a period of at least thirty (30) days after receiving the notice to consider the decision of whether to waive the Qualified Joint and Survivor Annuity and elect (with spousal consent) a form of distribution other than a Qualified Joint and Survivor Annuity; and the Participant is permitted to revoke any affirmative distribution election at least until the Annuity Starting Date or, if later, at any time prior to the expiration to the seven (7) day period that begins the day after the explanation of the Qualified Joint and Survivor Annuity is provided to the Participant.