Section 72-31-350 - 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 of which the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code:(a) an individual retirement account under section 408 of the Internal Revenue Code, 26 U.S.C. 408;(b) a Roth individual retirement account under section 408A of the Internal Revenue Code, 26 U.S.C. 408A;(c) a deemed individual retirement account under section 408(q) of the Internal Revenue Code, 26 U.S.C. 408(q);(d) an annuity or mutual fund custodial account under section 403(b) of the Internal Revenue Code, 26 U.S.C. 403(b);(e) a pension, profit-sharing, stock bonus, or other retirement plan qualified under section 401(a) of the Internal Revenue Code, 26 U.S.C. 401(a);(f) a deferred compensation plan under section 457(b) of the Internal Revenue Code, 26 U.S.C. 457(b); and(g) a nonqualified deferred compensation plan under section 409A of the Internal Revenue Code, 26 U.S.C. 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: (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, and purchase assets from a retirement plan.En. Sec. 127, Ch. 494, L. 1993; amd. Sec. 41, Ch. 109, L. 2011; Sec. 72-31-235, MCA 2009; redes. 72-31-350 by Code Commissioner, 2011.