How must a waiver of Qualified Pre-Retirement Survivor Annuity benefits be executed?

The waiver of Qualified Pre-Retirement Survivor Annuity (QPSA) benefits must be executed with the specific requirement that both the spouse and the employee sign it, and it must be witnessed. This is critical to ensure that both parties are fully aware of the implications of waiving these benefits, which are designed to provide financial security to the surviving spouse in the event of the employee's death before retirement.

This requirement is in place to protect the rights of the surviving spouse. The witnessing aspect adds an additional layer of verification, assuring that the waiver is executed willingly and understandingly, minimizing the chances of duress or misunderstandings regarding the waiver's consequences.

In contrasting this with the other options, it is clear that simply having a written form ready or confirming by email does not fulfill the legal requirements for such a significant decision regarding retirement benefits. Furthermore, the absence of any required signatures would invalidate the waiver and compromise the protection intended for the spouse under the pension plan regulations. Thus, the dual requirement of signatures and a witness is essential for the validity of the waiver.