Chartered Retirement Planning Counselor (CRPC) Practice Exam 2025 - Free CRPC Practice Questions and Study Guide

The statement that spouses may waive the Qualified Joint and Survivor Annuity (QJSA) option with written consent is true because it reflects the rules governing how survivor benefits work in relation to qualified retirement plans. The QJSA is designed to provide a surviving spouse with benefits after the death of the plan participant. However, in order for a participant to choose a different form of benefit that does not include a QJSA option, the spouse must provide written consent to waive this option. This ensures that both the participant and the spouse have an agreement about the type of benefit that will be received upon the participant's death, thereby protecting the financial interests of the surviving spouse.

The other statements present misconceptions. For instance, while pension plans generally do have survivor benefits, profit-sharing plans are not universally required to offer a QJSA. Also, the requirement for a pension plan to provide a survivor annuity can vary based on the nature of the marriage and other factors. Lastly, the QJSA does not always equate to 100% of the annuity amount; it can be less than that depending on the specific terms of the annuity. The focus on written consent for waiving the QJSA ensures proper beneficiary rights are respected within