“Wages” does not include the amount of any payment made by an employing unit to, or on behalf of, an individual performing service for it, or the individual’s beneficiary:
(1) From or to a trust exempt from tax under section 401(a) of the United States Code at the time of such payment unless such payment is made to an individual performing service for the trust as remuneration for such service and not as a beneficiary of the trust; or
(2) Under or to an annuity plan which, at the time of such payment, meets the requirements of section 401(a) of the United States Code.