Retirement plans.

1. 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 in which the principal is a participant, beneficiary, or owner, including but not limited to a plan or account under the following sections of the Internal Revenue Code : a. An individual retirement account in accordance with section 408 . b. A Roth individual retirement account established under section 408A . c. A deemed individual retirement account under section 408(q) . d. An annuity or mutual fund custodial account under section 403(b) . e. A pension, profit-sharing, stock bonus, or other retirement plan qualified under section 401(a) . f. An eligible deferred compensation plan under section 457(b) . g. A nonqualified deferred compensation plan under section 409A . 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 do all of the following: 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. f. Borrow from, sell assets to, or purchase assets from a retirement plan. 2014 Acts, ch 1078, §40 Referred to in §633B.201 , 633B.202 , 633B.203