In a military power of attorney, the language granting power with respect to retirement plan transactions empowers the agent to do all of the following:
(1) Select payment options under any retirement plan in which the principal participates, including plans for self-employed individuals.
(2) Designate beneficiaries under those plans and change existing designations.
(3) Make voluntary contributions to those plans.
(4) Exercise the investment powers available under any self-directed retirement plan.
(5) Make rollovers of plan benefits into other retirement plans.
(6) If authorized by the plan, borrow from, sell assets to, and purchase assets from the plan.
(7) Waive the right of the principal to be a beneficiary of a joint or survivor annuity if the principal is a spouse who is not employed.