; (iv) in the case of an employer that maintains a qualifying plan or arrangement which excludes employees who have not satisfied the minimum age and service requirements for participation in the plan, an employee who has not satisfied such requirements; (v) in the case of an employer that maintains an annuity contract (including a custodial account or retirement income account) under section 403(b) of the Internal Revenue Code of 1986, an employee who is permitted to be excluded from any salary reduction arrangement under the contract pursuant to paragraph (12) of such section 403(b); (vi) in the case of an employer that maintains an arrangement described in section 408(p) of such Code, an employee who is not required to be eligible to participate in the arrangement under paragraph (4) of such section 408(p); and (vii) in the case of an employer that maintains a simplified employee pension described in section 408(k) of such Code, an employee who is permitted to be excluded from participation under paragraph (2) of such section 408(k). (4) Guidance The Secretary of Labor (in this title referred to as the Secretary ) shall issue regulations or other guidance to carry out this subsection, including— (A) guidelines for determining the classes or categories of employees to be covered by a USA Retirement Fund; (B) guidelines requiring employers to specify the classification or categories of employees (if any) who are excluded from the USA Retirement Fund; and (C) rules to prevent avoidance of the requirements of this section. (d) Automatic USA Retirement Fund arrangement For purposes of this title— (1) In general The term automatic USA Retirement Fund arrangement means an arrangement of an employer (determined without regard to whether the employer is required to maintain the arrangement)— (A) that covers each qualifying employee of the covered employer for the calendar year