Section 10-6B-54 - Retirement plans(a) As used in this Code section, the term "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 such 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 Internal Revenue Code Section 408, 26 U.S.C. Section 408, in effect on February 1, 2018;(2) A Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A, in effect on February 1, 2018;(3) A deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q), in effect on February 1, 2018;(4) An annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b), in effect on February 1, 2018;(5) 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), in effect on February 1, 2018;(6) A plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b), in effect on February 1, 2018; and(7) A nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A, in effect on February 1, 2018.(b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans shall authorize 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.Amended by 2018 Ga. Laws 412,§ 22, eff. 7/1/2018.Added by 2017 Ga. Laws 186,§ 2-1, eff. 7/1/2017.