The Oregon Waiver of Qualified Joint and Survivor Annuity (JSA) is a legal provision that allows individuals to waive their right to receive a joint and survivor annuity benefit. A JSA is a retirement benefit option provided to participants in qualified retirement plans, such as 401(k) plans, pension plans, and certain types of Individual Retirement Accounts (IRAs). This waiver allows the participant to designate a different form of payment or beneficiary for their retirement benefits. In the state of Oregon, there are different types of waivers available under the JSA. These include the Spousal Consent Waiver and the Alternative Payee Waiver. The Spousal Consent Waiver allows an individual to waive the joint and survivor annuity benefit, which typically requires the participant's spouse to receive a monthly payment for their lifetime after the participant's death. This waiver permits the participant to choose a different payment option, such as a lump sum or a single life annuity, without the need for spousal consent. The Alternative Payee Waiver, on the other hand, is applicable in cases of divorce or legal separation. It allows the participant to waive the JSA benefit and designate an alternative payee, typically a former spouse, to receive the retirement benefits. By providing these waiver options, Oregon aims to give individuals greater flexibility in managing their retirement benefits. It allows for customization of payments and the ability to appoint beneficiaries other than the participant's spouse. In summary, the Oregon Waiver of JSA is a legal provision that enables individuals to forgo the standard joint and survivor annuity benefit in qualified retirement plans. Different types of waivers, such as the Spousal Consent Waiver and Alternative Payee Waiver, offer individuals the flexibility to choose alternate payment options or designate an alternative payee, respectively. These waivers ensure that individuals have more control over their retirement benefits and can customize them to suit their unique circumstances.