As used in this title, the term, wages, does not include the amount of any payment with respect to services performed on behalf of any person in its employ under a plan or system established by an employing unit which makes provision for persons in its employ generally or for a class or classes of persons including any amount paid by an employing unit for insurance on annuities, or into a fund, to provide for any payment on account of:
(1) Sickness or accident disability. However, in the case of payments made to an employee or any one of the employee's dependents, this subdivision excludes from wages only payments received under a worker's compensation law;
(2) Medical or hospitalization expenses in connection with sickness or accident disability;
(3) Death; or
(4) Retirement or pension if the payment is made pursuant to a qualified plan as provided in 26 U.S.C. §§ 401(k), 403b, 408(k), 457, and 408(p), other than any elective contributions under paragraph (2)(A)(i) thereof, as of January 1, 2006.