2015 Iowa Code
TITLE XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
SUBTITLE 4 - PROBATE — FIDUCIARIES
CHAPTER 633B - POWERS OF ATTORNEY
Section 633B.215 - 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 in which the principal is a participant, beneficiary, or owner, including but not limited to a plan or account under the following sections of the Internal Revenue Code:

a.  An individual retirement account in accordance with section 408.

b.  A Roth individual retirement account established under section 408A.

c.  A deemed individual retirement account under section 408(q).

d.  An annuity or mutual fund custodial account under section 403(b).

e.  A pension, profit-sharing, stock bonus, or other retirement plan qualified under section 401(a).

f.  An eligible deferred compensation plan under section 457(b).

g.  A nonqualified deferred compensation plan under section 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 do all of the following:

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.

f.  Borrow from, sell assets to, or purchase assets from a retirement plan.
2014 Acts, ch 1078, §40

Referred to in 633B.201, 633B.202, 633B.203
NEW section

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