Married Participants

If you are married and wish to receive your benefits in the form of an annuity, federal law provides that you must receive your annuity benefits in the form of a 50 Percent Joint and Survivor Annuity, with your spouse as beneficiary, unless your spouse agrees in writing to your choice of another form of annuity payment. Your spouse’s signature must be witnessed by a plan representative or notarized by a notary public.

Your Spouse’s Rights

Under federal pension legislation, if you choose any annuity method of payment other than a Survivor Annuity with your spouse as the survivor, your spouse must give written consent which acknowledges that his or her rights to survivor annuity benefits are being waived. Your spouse’s signature must be witnessed by a plan representative or notarized by a notary public.

Federal pension law (ERISA) provides that if you are married at the time of your death, your spouse is entitled to receive, as primary beneficiary, your qualified preretirement survivor death benefits under a retirement or tax-deferred annuity plan covered by ERISA. If you name someone other than your spouse as primary beneficiary your spouse must consent to this primary beneficiary designation by completing a Spousal Waiver. Then the qualified preretirement survivor annuity death benefits will be payable to such primary beneficiary. If you elected only a portion to be paid to the designated beneficiary, then the remainder will be payable to your spouse.

If you designate your spouse as beneficiary and the individual later ceases to be your spouse, such designation will be deemed void and your ex-spouse will have no rights as a beneficiary unless redesignated as a beneficiary by you subsequent to becoming your ex-spouse or as otherwise provided under a qualified domestic relations order under Internal Revenue Code Section 414(p).