If only one of the conditions in RS 01402.320 is present, we may consider the payment to be “on account of retirement,” provided
all employees who would receive these payments would also qualify under the regular
retirement plan, by the time the pre-retirement payments terminate.
For purposes of this section, the employee retired when he or she discontinued performing services for the employer, and there was no
expectation that the employee would return to work; at that point, we view an employment
relationship as ended.