2017 District of Columbia Code
Title 21 - Fiduciary Relations and Persons with Mental Illness. [Enacted title]
Chapter 21 - Uniform General Power of Attorney.
§ 21–2115. Construction of power relating to retirement plan transactions.
In a statutory power of attorney the language granting power with respect to retirement plan transactions empowers the agent to:
(1) Select payment options under any retirement plan in which the principal participates, including plans for self-employed individuals;
(2) Designate beneficiaries under those plans and change existing designations;
(3) Make voluntary contributions to those plans;
(4) Exercise the investment powers available under any self-directed retirement plan;
(5) Make “rollovers” of plan benefits into other retirement plans;
(6) If authorized by the plan, borrow from, sell assets to, and purchase assets from the plan; and
(7) Waive the right of the principal to be a beneficiary of a joint or survivor annuity if the principal is a spouse who is not employed.
(Sept. 18, 1998, D.C. Law 12-147, § 2, 45 DCR 3853.)
Prior Codifications1981 Ed., § 21-2115.
Editor's NotesUniform Law: This section is based upon § 15 of the Uniform Statutory Form Power of Attorney Act.
