Section 45-5B-215 - Retirement plansA. 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:(1) an individual retirement account under Section 408 of the Internal Revenue Code of 1986, as amended;(2) a Roth individual retirement account under Section 408A of the Internal Revenue Code of 1986, as amended;(3) a deemed individual retirement account under Section 408(q) of the Internal Revenue Code of 1986, as amended;(4) an annuity or mutual fund custodial account under Section 403(b) of the Internal Revenue Code of 1986, as amended;(5) a pension, profit-sharing, stock bonus or other retirement plan qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended;(6) a plan under Section 457(b) of the Internal Revenue Code of 1986, as amended; and(7) a nonqualified deferred compensation plan under Section 409A of the Internal Revenue Code of 1986, as amended.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. Laws 2007, ch. 135, § 215; 1978 Comp., § 46B-1-215 recompiled as § 45-5B-215 by Laws 2011, ch. 124, § 102.