§ 4.3.5.2 PENSION PLANS

• Jurisdiction: Arizona

§ 4.3.5.2 Pension Plans. The term "employee pension benefit plan" includes any plan, fund, or program established or maintained by an employer or by a labor organization to the extent that by its express terms or as a result of the surrounding circumstances the plan, fund, or program provides retirement income to employees or results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculation or the method of distribution of benefits.⁵²

This definition sweeps within the scope of ERISA protection a number of deferred compensation programs but is not all-inclusive. For example, tax-sheltered annuities meeting the requirements of 26 C.F.R. § 1.403(b)-1(b)(3) are not employee benefit plans.⁵³ Totally employee-funded IRAs in which participation is voluntary are not employee benefit plans.⁵⁴ Most bonus...