Definitions for "Spousal consent"
The required consent by a spouse before a participant may elect to waive a qualified joint and survivor annuity (QJSA) or a qualified preretirement survivor annuity (QPSA) or take a loan from a qualified plan.
The agreement of your husband or wife to change the benefit that otherwise would be paid to you automatically from your plan. Often, this is agreement not to have a survivor benefit paid to your spouse upon your death or to have the survivor benefit paid to someone who is not your spouse upon your death.
a spouseâ€(tm)s written consent is required in order for the participant to designate someone other than their spouse as beneficiary and, in some case, for loan applications.