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QOSA definition

QOSA means an annuity for the life of the participant with a survivor annuity for the life of the spouse of the participant which is equal to 50% of the amount of the annuity that is payable during the joint lives of the participant and his or her spouse.
Sample 1
QOSA means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the Spouse which is equal to 75 percent of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse, and which is the amount of benefit that can be purchased with the Participant’s vested Account Balance.
Sample 1

Examples of QOSA in a sentence

  • The QJSA provisions of Section 6.04(A) apply to a QOSA the Participant elects pursuant to this Section 6.04(A)(8).

  • The QJSA notice will explain the terms and conditions of the QOSA.

  • A Participant who elects to waive the QJSA form of benefit is entitled to elect the QOSA at any time during the applicable QJSA election period.

  • A QOSA also includes any annuity in a form having the effect of an annuity described in the preceding sentence.

  • A QOSA is an Annuity Contract: (i) for the life of the Participant with a Survivor Annuity for the life of the spouse which is equal to the Applicable Percentage of the amount of the annuity which is payable during the joint lives of the Participant and the spouse; and (ii) which is the actuarial equivalent of a single annuity for the life of the Participant.

  • A QOSA is an Annuity Contract: (i) for the life of the Participant with aSurvivor Annuity for the life of the spouse which is equal to the Applicable Percentage of the amount of the annuity which is payable during the joint lives of the Participant and the spouse; and (ii) which is the actuarial equivalent of a single annuity for the life of the Participant.

  • Participant’s Vested Account Balance in the form of a QJSA (or in the form of a QOSA described in Section 6.04(A)(8)), unless the Participant, and spouse if the Participant is married, waive the QJSA in accordance with this Section 6.04(A) or unless Section 6.04(G) applies.

  • See Section 6.03(A)(5).[Note: Under a Plan which is subject to the joint and survivor annuity distribution requirements of Section 6.04 (Election 40(b)), the Employer may elect under 38(d) to offer one or more additional annuities (Alternative Annuity) to the Plan's QJSA, QPSA or QOSA.

  • Depending on the QOS contract established at negotiation time, the QOS-A would be responsible for building a suitable stack profile by selecting from the available set of mechanisms.

  • A 50% joint and survivor annuity with your spouse as the joint annuitant is referred to as a qualified joint and survivor annuity (QJSA), and a 75% joint and survivor annuity with your spouse as the joint annuitant is referred to as a qualified optional survivor annuity (QOSA).

Related to QOSA

  • QoS means Quality of Service.

  • QMCSO means a qualified medical child support order, as defined in ERISA § 609(a).

  • Qualified company means a For- eign Issuer whose securities are quali- fied for investment on a tax-deferred basis by a Canadian Retirement Ac- count under Canadian law.

  • Medical flexible spending arrangement or "medical FSA" means a benefit plan whereby eligible state employees may reduce their salary before taxes to pay for medical expenses not reimbursed by insurance as provided in the salary reduction plan established under chapter

  • Medical cannabis card means the same as that term is defined in Section 26-61a-102.

  • Number of Students Who Began Program means the number of students who began the program who are scheduled to complete the program within the reporting calendar year.

  • Kit means a set of components that are packaged together and intended to be used to perform a specific in vitro diagnostic examination, or a part thereof;

  • Qualified medical provider means the same as that term is defined in Section 26-61a-102.

  • Qualified Medical Child Support Order means a Medical Child Support Order which creates (including assignment of rights) or recognizes an Alternate Recipient's right to receive benefits to which a Participant or Qualified Beneficiary is eligible under this Plan, and has been determined by the Plan Administrator to meet the qualification requirements as outlined under “Procedures” of this provision.

  • Qualified city means a city that has incorporated an authority under the municipal lighting authority act, 2012 PA 392, MCL 123.1261 to 123.1295.

  • Qualified vendor means a vendor who:

  • PICB means Performance Improvement and Compliance Branch of the Ministry, or any other branch or organizational unit of the Ministry that may succeed or replace it.

  • IRDAI means the Insurance Regulatory and Development Authority of India.

  • Nonparticipating manufacturer means any tobacco product manufacturer that is not a participating manufacturer.

  • RRSP means a registered retirement savings plan as defined in the Income Tax Act (Canada);

  • FOIP means the Freedom of Information and Protection of Privacy Act,

  • Domestic Relations Order means a domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act, or the rules thereunder.

  • Qualified Medical Practitioner means any person legally authorized by the Government with jurisdiction in the geographical area of his or her practice to render medical or surgical service, but excluding a qualified medical practitioner who is the Insured Person or an Immediate Family Member of the Insured Person.

  • Qualified veteran means a person who meets the following requirements:

  • Qualified Contractor ’ means a residential energy ef-

  • NFIP means the National Flood Insurance Program authorized under the Act.

  • Pack means a package containing either 20 or 25 cigarettes.

  • Aerosol coating product means a pressurized coating product containing pigments or resins that dispenses product ingredients by means of a propellant, and is packaged in a disposable can for hand-held application, or for use in specialized equipment for ground traffic/marking applications.

  • UMDAP means the Uniform Method of Determining Ability to Pay and refers to the 20 method used for determining the annual Consumer liability for Mental Health Services received from 21 the COUNTY mental health system and is set by the State of California.

  • Number of Students Who Began the Program means the number of students who began a program who were scheduled to complete the program within 100% of the published program length within the reporting calendar year and excludes all students who cancelled during the cancellation period.

  • Qualifying Educational Program means a program at a post-secondary school level of not less than three consecutive weeks duration that requires each student taking the program to spend not less than 10 hours per week on courses or work in that program.

Most Referenced Clauses

Most Referenced Definitions