Section 15-12-215 - RETIREMENT PLANS(1) In this section, "retirement plan" means any plan or account created by an employer, the principal or another individual for the purpose of providing 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 Internal Revenue Code section 408, 26 U.S.C. section 408, as amended;(b) A Roth individual retirement account under Internal Revenue Code section 408A, 26 U.S.C. section 408A, as amended;(c) A deemed individual retirement account under Internal Revenue Code section 408(q), 26 U.S.C. section 408(q), as amended;(d) An annuity or mutual fund custodial account under Internal Revenue Code section 403(b), 26 U.S.C. section 403(b), as amended;(e) 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), as amended;(f) A plan under Internal Revenue Code section 457(b), 26 U.S.C. section 457(b), as amended; and(g) A nonqualified deferred compensation plan under Internal Revenue Code section 409A, 26 U.S.C. section 409A, as amended.(2) Unless a 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 (1) 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.[15-12-215, added 2008 , ch. 186, sec. 2, p. 578.]