Exceptions

is acquired by the estate of a decedent by reason of the death of the decedent,

is held under a plan described in section 401(a) or 403(a), under a program described in section 403(b), or under an individual retirement plan,

is a qualified funding asset (as defined in section 130(d), but without regard to whether there is a qualified assignment),

is purchased by an employer upon the termination of a plan described in section 401(a) or 403(a) and is held by the employer until all amounts under such contract are distributed to the employee for whom such contract was purchased or the employee’s beneficiary, or