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For the years in issue, the plans constituted qualified
pension plans under section 401, and Rozenblatt and Jakubowicz
were the only participants in their respective plans.
Under section 3.02 of each plan, if Rozenblatt and
Jakubowicz are not married at the time of retirement, each will
receive what is referred to as a normal retirement benefit in the
form of a single life annuity that will provide monthly payments
commencing after retirement and continuing for each participant's
life. Section 3.02 of each plan provides as follows:
[Rozenblatt’s or Jakubowicz’s] Normal Retirement
Pension computed under Section 3.01 shall be paid * * *
in the form of a monthly annuity for his lifetime,
commencing on the first day of the month following the
date on which * * * [he] attains his Normal Retirement
Date. Such normal form of payment shall be subject to
any election made by such Participant under Article IV
and V of this Agreement.
Under section 4.01 of each plan, however, if Rozenblatt and
Jakubowicz are married at retirement, each will receive monthly
annuity payments in the form of a qualified joint and survivor
annuity (QJSA). Under a QJSA, periodic annuity payments are made
over the joint lives of the participant and his spouse. The
participant receives annuity payments for his life, and if the
spouse survives the participant, the surviving spouse receives
annuity payments for her life. Also under section 4.01 of each
plan, Rozenblatt or Jakubowicz could elect in writing not to
receive the QJSA and instead to receive simply a single life
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Last modified: May 25, 2011