Payments you receive from a plan or system established by your employer for insurance or annuities are not wages. The plan must generally provide for all employees and/or their dependents or for a class(es) of employees and their dependents. The terms and conditions of the plan must be communicated to all employees or the class(es) affected. In addition, the plan must provide payment eligibility standards that include:
Length of service, salary, classification, or occupation;
The minimum period payments are made; and
A formula for computing the minimum benefit for each eligible employee.