1. Definition. 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 federal Internal Revenue Code:
A. An individual retirement account under 26 United States Code, Section 408, as amended;
B. A Roth individual retirement account under 26 United States Code, Section 408A, as amended;
C. A deemed individual retirement account under 26 United States Code, Section 408(q), as amended;
D. An annuity or mutual fund custodial account under 26 United States Code, Section 403(b), as amended;
E. A pension, profit-sharing, stock bonus or other retirement plan qualified under 26 United States Code, Section 401(a), as amended;
F. A plan under 26 United States Code, Section 457(b), as amended; and
G. A nonqualified deferred compensation plan under 26 United States Code, Section 409A, as amended.
2. General authority. 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:
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; and
F. Borrow from, sell assets to or purchase assets from a retirement plan.