Qualified Pre-Retirement Survivor Annuity (QPSA)

A Qualified Pre-Retirement Survivor Annuity (QPSA) is a type of survivor annuity that is available to participants in defined benefit plans. A QPSA provides a survivor benefit to the participant's spouse or other designated beneficiary in the event of the participant's death before retirement.

The QPSA is a qualified plan benefit under Section 401(a)(11) of the Internal Revenue Code. This means that the QPSA is not subject to the same limitations as other types of survivor annuities, such as the requirement that the survivor benefit be at least 50% of the participant's benefit.

The QPSA is also a qualified plan benefit under Section 417 of the Internal Revenue Code. This means that the QPSA must meet certain requirements in order to be considered a QPSA. These requirements include:

• The QPSA must be provided to all participants in the plan who are married at the time of their death.
• The QPSA must be at least 50% of the participant's accrued benefit at the time of their death.
• The QPSA must be payable for the life of the participant's spouse or other designated beneficiary.

If a plan provides a QPSA, the participant's spouse or other designated beneficiary is entitled to receive the QPSA in the event of the participant's death before retirement. The QPSA is paid in addition to any other benefits that the participant's spouse or other designated beneficiary may be entitled to receive, such as Social Security benefits or a pension from the participant's employer.

The QPSA is a valuable benefit for participants in defined benefit plans. It provides a guaranteed income to the participant's spouse or other designated beneficiary in the event of the participant's death before retirement. This can help to ensure that the participant's spouse or other designated beneficiary is financially secure in the event of the participant's death.