Section 39B-2-115 - Retirement plans(a) 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:(1) An individual retirement account under Internal Revenue Code, 26 U. S. C. §408;(2) A Roth individual retirement account under Internal Revenue Code, 26 U. S. C. §408A;(3) A deemed individual retirement account under Internal Revenue Code, 26 U. S. C. §408(q);(4) An annuity or mutual fund custodial account under Internal Revenue Code, 26 U. S. C. §403(b);(5) A pension, profit-sharing, stock bonus or other retirement plan qualified under Internal Revenue Code, 26 U. S. C. §401(a);(6) A plan under Internal Revenue Code, 26 U. S. C. §457(b); and(7) A nonqualified deferred compensation plan under Internal Revenue Code, 26 U. S. C. §409A.(b) 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:(1) Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;(2) Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;(3) Establish a retirement plan in the principal's name;(4) Make contributions to a retirement plan;(5) Exercise investment powers available under a retirement plan; and(6) Borrow from, sell assets to or purchase assets from a retirement plan.Added by 2012 Acts, ch. 199 (HB 4390), eff. 6/8/2012.