191—15.62 (507B) Applicability and scope. These rules apply to all group and individual annuity contracts and certificates except:
	 15.62(1) Registered or nonregistered variable annuities or other registered products;
	 15.62(2) Immediate and deferred annuities that contain no nonguaranteed elements;
	 15.62(3) Annuities used to fund:
	  a.   	 An employee pension plan which is covered by the Employee Retirement Income Security Act (ERISA);
	  b.   	 A plan described by Section 401(a), 401(k) or 403(b) of the Internal Revenue Code, where the plan, for purposes of ERISA, is established or maintained by an employer;
	  c.   	 A governmental or church plan defined in Section 414 of the Internal Revenue Code or a deferred compensation plan of a state or local government or a tax exempt organization under Section 457 of the Internal Revenue Code; or
	  d.   	 A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor.
This subrule shall apply to annuities used to fund a plan or arrangement that is funded solely by contributions an employee elects to make whether on a pretax or after-tax basis, and where the insurance company has been notified that plan participants may choose from among two or more fixed annuity providers and there is a direct solicitation of an individual employee by a producer for the purchase of an annuity contract. As used in this subrule, direct solicitation shall not include any meeting held by a producer solely for the purpose of educating or enrolling employees in the plan or arrangement;
	 15.62(4) Structured settlement annuities; and
	 15.62(5) Charitable gift annuities as defined in Iowa Code chapter 508F.