10-6B-54. Retirement plans.

As used in this Code section, the term “retirement plan” means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which such principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code:#

1. (1)

   An individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408, in effect on February 1, 2018;#

2. (2)

   A Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A, in effect on February 1, 2018;#

3. (3)

   A deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q), in effect on February 1, 2018;#

4. (4)

   An annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b), in effect on February 1, 2018;#

5. (5)

   A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. Section 401(a), in effect on February 1, 2018;#

6. (6)

   A plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b), in effect on February 1, 2018; and#

7. (7)

   A nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A, in effect on February 1, 2018.#

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans shall authorize the agent to:#

1. (1)

   Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;#

2. (2)

   Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;#

3. (3)

   Establish a retirement plan in the principal’s name;#

4. (4)

   Make contributions to a retirement plan;#

5. (5)

   Exercise investment powers available under a retirement plan; and#

6. (6)

   Borrow from, sell assets to, or purchase assets from a retirement plan.#