Does a private retirement plan need to be designed and use for retirement purposes to qualify for exemption under section 704.115(a)(2) of the Tax Code?

We addressed a somewhat similar contention in Bloom v. Robinson (In re Bloom), 839 F.2d 1376, 1378 (9th Cir. 1988) -- whether a private retirement plan must be "designed and use for retirement purposes" to qualify for an exemption under 704.115(a)(1). The debtor in In re Bloom acknowledged that, under 704.115(a)(2), a profit-sharing plan must be "designed and used for retirement purposes " in order to be exempt, but argued that under 704.115(a)(1), a private retirement plan was not subject to this standard. See id. at 1378. We addressed this argument as follows: