Payments previously excluded from wages under section 209 of the Act continue to be
excluded from wages after 1983 provided the rules in RS 01401.080B.1. apply.
EXAMPLE: Employee works 20 years for Company A and retires on December 31, 1983. Under Company
A's nonqualified deferred compensation plan, the employee is entitled to receive $2,000
per month beginning January 1, 1984, when the employee attains age 65.
The transitional rules apply because an agreement was in effect on March 24, 1983;
the payments are based on services performed before 1984; and the payments would have
been excluded from wages before the 1983 amendments as payments on account of retirement.
Therefore, none of the payments beginning January 1984 are wages.