The regs indicate that the QJSA for a married participant must be as least as valuable as other optional forms of benefits, except lump sums. The relative value regs permit banding or the grouping of forms of benefits that are "close", such as between 95 percent and 100 percent of the normal form in certain circumstances so that the plan can say the various forms are equal.

What happens when the QJSA is 97 percent of a single life annuity? Can I band or group the benefits in acordance with the relative value regs to say the QJSA is equal? Is there anyway of reducing the value of the single life annuity (I think not, but I have to ask)?