What is true about survivor benefits under a qualified retirement plan?

Survivor benefits under a qualified retirement plan are designed to protect the financial security of the employee's family after their death. When a married employee has a retirement plan, federal law requires that any decision to waive the right to survivor benefits must include the written consent of their spouse. This requirement ensures that spouses are aware of and consent to the potential loss of these crucial benefits, reflecting the importance of spousal security in retirement planning.

The option that discusses the possibility of waiving survivor benefits without the spouse's consent is incorrect because it overlooks the legal requirement set forth to protect both the employee and their spouse. Preparedness for such decisions requires clear communication and understanding between partners, reinforcing the intent behind the consent requirement.