Waiver of Rights to Husband’s Retirement Assets Sample Clauses

Waiver of Rights to Husband’s Retirement Assets. XXXXXXX waives all right, title, and interest that she may have in MARK’s existing and future Individual Retirement Accounts (“XXX”) and other retirement benefits and deferred-compensation plans, whether lump-sum or installment, arising from MARK’s employment before or during the Marriage, all of which are partitioned and exchanged to XXXX as his separate property. XXXXXXX acknowledges that this waiver includes all rights that she has or may have to receive any benefits or payments from MARK’s XXX and other retirement benefits and deferred-compensation plans that exist before or during the Marriage. XXXXXXX further waives all rights she may have to participate in any decisions about the designation of beneficiaries, election of benefits, or any other types of decisions to be made by XXXX under his existing or future XXX plans and other retirement benefits and deferred-compensation plans, including but not limited to any right to a qualified joint and survivor annuity or a qualified preretirement survivor annuity. XXXXXXX further acknowledges that it is her intent that XXXX will have the sole and absolute discretion under his existing or future XXX plans and other retirement benefits and deferred-compensation plans to designate beneficiaries, elect benefits, and make any other decisions. Thus, XXXXXXX agrees that if she receives any part of or benefits from MARK’s XXX plans or other retirement benefits and deferred-compensation plans, other than under MARK’s express designation of her as a named beneficiary, XXXXXXX will promptly return such benefits to XXXX or to his estate if he is no longer living. XXXXXXX agrees that within ninety days after the Marriage, she will execute all forms necessary to effectuate the waivers contained in this Section, including but not limited to (1) a beneficiary designation naming someone other than XXXXXXX as beneficiary, (2) an election to waive any preretirement survivor annuity, (3) an election to waive any joint and survivor annuity, and (4) an election to designate a benefit payment option.
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