Arkansas Code of 1987 (2023)
Title 28 - WILLS, ESTATES, AND FIDUCIARY RELATIONSHIPS (§§ 28-1-101 — 28)
Subtitle 5 - FIDUCIARY RELATIONSHIPS (§§ 28-65-101 — 28-77-803)
Chapter 68 - UNIFORM POWER OF ATTORNEY ACT (§§ 28-68-101 — 28-68-406)
Subchapter 2 - AUTHORITY (§§ 28-68-201 — 28-68-217)
Section 28-68-215 - Retirement plans

• (a) 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:
  • (1) an individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408, as it existed on January 1, 2011;
  • (2) a Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A, as it existed on January 1, 2011;
  • (3) a deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q), as it existed on January 1, 2011;
  • (4) an annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b), as it existed on January 1, 2011;
  • (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), as it existed on January 1, 2011;
  • (6) a plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b), as it existed on January 1, 2011; and
  • (7) a nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A, as it existed on January 1, 2011.

• (b) 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:
  • (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.

Acts 2011, No. 805, § 1.