Section 75A-2-215 - Retirement plans(1) As used in this section, "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 the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code:(a) an individual retirement account under Section 408, Internal Revenue Code;(b) a Roth individual retirement account under Section 408A, Internal Revenue Code;(c) a deemed individual retirement account under Section 408(q), Internal Revenue Code;(d) an annuity or mutual fund custodial account under Section 403(b), Internal Revenue Code;(e) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Section 401(a), Internal Revenue Code;(f) a plan under Section 457(b), Internal Revenue Code; and(g) a nonqualified deferred compensation plan under Section 409A, Internal Revenue Code.(2) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans authorizes the agent to: (a) select the form and timing of payments under a retirement plan and withdraw benefits from a plan;(b) make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;(c) establish a retirement plan in the principal's name;(d) make contributions to a retirement plan;(e) exercise investment powers available under a retirement plan; and(f) borrow from, sell assets to, or purchase assets from a retirement plan.Renumbered from § 75-9-215 and amended by Chapter 364, 2024 General Session ,§ 61, eff. 9/1/2024.Added by Chapter 256, 2016 General Session ,§ 39, eff. 5/10/2016.