C.R.S.
Section 15-14-738
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 federal “Internal Revenue Code of 1986”, as amended:(a)
An individual retirement account under Internal Revenue Code section 408, 26 U.S.C. sec. 408, as amended;(b)
A Roth individual retirement account under Internal Revenue Code section 408A, 26 U.S.C. sec. 408A, as amended;(c)
A deemed individual retirement account under Internal Revenue Code section 408 (q), 26 U.S.C. sec. 408 (q), as amended;(d)
An annuity or mutual fund custodial account under Internal Revenue Code section 403 (b), 26 U.S.C. sec. 403 (b), as amended;(e)
A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code section 401 (a), 26 U.S.C. sec. 401 (a), as amended;(f)
A plan under Internal Revenue Code section 457 (b), 26 U.S.C. sec. 457 (b), as amended; and(g)
A nonqualified deferred compensation plan under Internal Revenue Code section 409A, 26 U.S.C. sec. 409A, as amended.(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 and designate a beneficiary that will be the estate of the principal;(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.
Source:
Section 15-14-738 — Retirement plans, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-15.pdf
(accessed Oct. 20, 2023).