This is an individual chosen by the retiree at the time of retirement who will receive a monthly benefit after the retiree passes away. The monthly benefit will continue until the JA dies.
An individual who shares in your retirement benefits according to the retirement option you choose when your account is annuitized. If you are single, your joint annuitant may be anyone you choose. If you are married, your joint annuitant is usually your spouse; if you choose a joint annuitant other than your spouse, your spouse must provide notarized consent.
A type of beneficiary who is eligible to receive certain continuing benefits upon an FRS Pension Plan member’s death. If a member who is retiring or entering DROP chooses benefit payment option 3 or 4, his/her beneficiary must be a joint annuitant to receive continuing benefits after the member’s death. To qualify as a joint annuitant, the beneficiary must be: • The member’s spouse; or • The member’s natural or legally adopted child who is either under age 25 or physically or mentally incapable of self-support; or • The member’s parent or grandparent who was dependent upon the member for at least one-half of his/her financial support at the time of death; or • A person for whom the member is the legal guardian, and who was dependent upon the member for at least one-half of his/her financial support at the time of death. NOTE: Special provisions may apply if the member dies before retirement.
The person named by the primary annuitant (person purchasing the annuity) at the time of purchase to receive payments following the death of the primary annuitant in a joint and survivor annuity. In most cases, the payment to the joint annuitant is a specified fraction of the original payment amount, which is selected upon purchase of the annuity. A joint annuitant may be a spouse or non-spouse. The joint annuitant can not change after a purchase of the annuity, as the quote is based on this person's gender and age.
A person other than the primary annuitant whose life determines the income benefits from an annuity, either for life or for a specified period of time. There may be one or two annuitants; one is the primary annuitant and the other is the joint annuitant. (See: annuitant.)
A beneficiary eligible to receive continuing benefits on either options 3 or 4 upon your death, whether actively employed or retired, who must be: Your spouse; or Your natural or legally adopted child who is either under age 25 or physically or mentally incapable of self-support (Your child under age 25 will receive your Option 1 benefit until age 25, unless disabled and incapable of support, in which case he or she will receive this benefit for the duration of his or her disability); or Your parent or grandparent, as long as you provide at least one-half of their financial support; or A person for whom you are the legal guardian, as long as you provide at least one-half of his or her financial support. (If under age 25, this person will receive your Option 1 benefit until age 25, unless disabled and incapable of support, in which case he or she will receive this benefit for the duration of his or her disability.)
A person who is the spouse or former spouse of the annuitant. (Spouse includes common-law partner).
A person who is one of two or more people who will receive annuity benefits in a joint and survivor annuity contract.