OAR 836-051-0905: Applicability and Scope

(1) OAR 836-051-0900 to 836-051-0925 apply to all group and individual annuity contracts and certificates except: (a) Immediate and deferred annuities that contain no nonguaranteed elements except as provided in OAR 836-051-0920(2); (b) Annuities used to fund: (A) An employee pension plan that is covered by the Employee Retirement Income Security Act (ERISA); (B) A plan described by Sections 401(a), 401(k), 403(b), or 408(k) or (p) of the Internal Revenue Code, when the plan, for purposes of ERISA, is established or maintained by an employer; (C) A governmental or church plan defined in Section 414 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. (c) Structured settlement annuities; and (d) Funding agreements. (2) OAR 836-051-0900 to 836-051-0925 also apply to annuities used to fund a plan or arrangement that is funded solely by contributions an employee elects to make, whether on a pre-tax or after-tax basis, and when the insurer 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. A direct solicitation under this section does not include any meeting held by a producer solely for the purpose of educating or enrolling employees in the plan or arrangement. (3) OAR 836-051-0900 to 836-051-0925 apply to annuity contracts that are sold on or after October 1, 2008. An insurer may conform its contracts to the provisions of 836-051-0900 to 836-051-0925 prior to that date.