Covered plan. For purposes of this paragraph (c)(1), a ‘‘covered plan’’ is an ‘‘employee pension benefit plan’’ or a ‘‘pension plan’’ within the meaning of section 3(2)(A) (and not described in section 4(b)) of the Act, except that the term ‘‘covered plan’’ shall not include a ‘‘simplified employee pension’’ de- scribed in section 408(k) of the Internal Revenue Code of 1986 (the Code); a ‘‘simple retirement account’’ described in section 408(p) of the Code; an indi- vidual retirement account described in section 408(a) of the Code; an individual retirement annuity described in sec- tion 408(b) of the Code; or annuity con- tracts and custodial accounts described in section 403(b) of the Code issued to a current or former employee before Jan- uary 1, 2009, for which the employer ceased to have any obligation to make contributions (including employee xxx- ary reduction contributions), and in fact ceased making contributions to the contract or account for periods be- fore January 1, 2009, and for which all of the rights and benefits under the contract or account are legally en- forceable against the insurer or custo- dian by the individual owner of the contract or account without any in- volvement by the employer, and for which such individual owner is fully vested in the contract or account.
Covered plan. For purposes of this para- graph (c)(1), a ‘‘covered plan’’ is an ‘‘em- ployee pension benefit plan’’ or a ‘‘pension plan’’ within the meaning of section 3(2)(A) (and not described in section 4(b)) of the Act, except that the term ‘‘covered plan’’ shall not include a ‘‘simplified employee pension’’ described in section 408(k) of the Internal Revenue Code of 1986 (the Code), a ‘‘simple retirement account’’ described in section 408(p) of the Code, an individual retirement account described in section 408(a) of the Code, or an individual retirement annuity described in section 408(b) of the Code.
