Which factor could disqualify a profit-sharing plan from being exempt from QSJA rules?

A profit-sharing plan can be disqualified from being exempt from Qualified Joint and Survivor Annuity (QSJA) rules if it offers an annuity form of payment. QSJA rules are specifically designed to protect the surviving spouse in the event of a participant's death, ensuring that they receive survivor benefits from their spouse’s retirement plan.

When a plan offers an annuity as a payment option, it inherently implies that certain joint and survivor benefit provisions may apply, which are typically meant to provide guarantees for the spouse's benefit after the participant's death. If the plan includes this type of payment structure, it does not qualify for the exemption from QSJA rules, which are intended for plans that do not provide such guarantees.

Other options such as having multiple participants, selecting a non-consent beneficiary, or not meeting annual contribution limits do not directly relate to the exemption status regarding QSJA. These factors do not impact whether a plan must comply with QSJA regulations, which are centered around the types of payment options offered and the survivor benefits connected to them.