The Tennessee Waiver of Qualified Joint and Survivor Annuity (JSA) is a provision that allows a participant in a retirement plan to waive the default joint and survivor annuity payment option. In pension plans, the JSA refers to the requirement that a participant's benefit be paid in the form of a qualified joint and survivor annuity unless the participant's spouse provides written consent to waive this option. The JSA ensures that a participant's spouse will continue to receive a portion of the retirement benefits after the participant's death. Different types of Tennessee Waiver of Qualified Joint and Survivor Annuity include: 1. Traditional JSA: Under this option, the participant's retirement benefit is paid in equal monthly installments for the participant's lifetime. Upon the participant's death, the surviving spouse continues to receive a percentage (usually 50% or 100%) of the original benefit for their lifetime. 2. Waiver of JSA: Participants have the option to waive the JSA and choose an alternative form of payout, such as a single life annuity or a lump sum distribution. This option allows participants more flexibility in customizing their retirement income but at the cost of potentially reducing or eliminating survivor benefits for the spouse. It is important to note that the decision to waive the JSA should be carefully considered, taking into account the financial needs and circumstances of both the participant and their spouse. Participants should seek professional financial advice to understand the implications and potential trade-offs associated with different annuity options and waivers. The Tennessee Waiver of Qualified Joint and Survivor Annuity (JSA) is designed to provide retirement plan participants with choices for how their benefits are paid out, ensuring both their own financial security and that of their spouse in the event of their death.