SPOUSAL CONSENT REQUIREMENTS Clause Samples

SPOUSAL CONSENT REQUIREMENTS. (a) When a Participant who has a Spouse elects, subject to the Spouse's consent, a payment option other than a qualified joint and survivor annuity (1) is in writing; (2) is witnessed by a notary public; (3) contains an acknowledgment by such Spouse of the effect of the consent and the election of the Spouse; and (4) designates a Beneficiary and the form of benefits, neither of which may be changed without the further consent of the Spouse, unless such initial consent (i) specifically permits designations by the Participant without any requirement of further consent of the Spouse or (ii) acknowledges that the Spouse has the right to limit the consent to the specific beneficiary or form of benefits and that the Spouse voluntarily elects to relinquish either or both of such rights. (b) The consent of a Participant's Spouse shall not be required in any of the following events: (1) the Participant establishes to the satisfaction of the Plan representative that he or she has no Spouse or that the Spouse cannot be located; (2) the Participant is legally separated or has been abandoned (within the meaning of local law) and the Participant has a court order establishing such legal separation or abandonment (unless a QDRO requires the Spouse's consent); (3) the form of benefit elected provides a qualified joint and survivor annuity (within the meaning of Section 417(b) of the Code) to the Participant and the Spouse; or (4) such other circumstances as may be permitted under applicable Treasury Department regulations have occurred with respect to the Participant. If a Participant's Spouse is legally incompetent to give consent, the Spouse's legal guardian may give consent.