Optional 75% Joint and Survivor Annuity Benefit
February 26, 2009 01:00 AM
The Pension Protection Act of 2006 requires defined benefit plans that offer a 50 percent qualified Joint and Survivor Annuity Benefit to begin offering a 75 percent optional Joint and Survivor Annuity Benefit effective January 1, 2009. Therefore, all NEBF retirees with a pension effective date on or after January 1, 2009 who are eligible for a 50 percent qualified Joint and Survivor Annuity Benefit will be offered a 75 percent optional Joint and Survivor Annuity Benefit.
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