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2018 Colorado Revised Statutes
Title 15 - Probate, Trusts, and Fiduciaries
Colorado Probate Code
Article 14 - Persons Under Disability - Protection
Part 7 - Uniform Power of Attorney Act
Subpart 2 - Authority
§ 15-14-738. Retirement plans

Universal Citation: CO Rev Stat ยง 15-14-738 (2018)
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  • (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.

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