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Current as of January 01, 2025 | Updated by Findlaw Staff
1. 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 name one or more beneficiaries in accordance with the principal's established estate plan and any restrictions to designate beneficiaries contained within the power of attorney;
(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.
2. As used 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:
(a) An individual retirement account under section 408 of the Internal Revenue Code, 26 U.S.C. § 408, as amended;
(b) A Roth individual retirement account under section 408A of the Internal Revenue Code, 26 U.S.C. § 408A, as amended;
(c) A deemed individual retirement account under section 408(q) of the Internal Revenue Code, 26 U.S.C. § 408(q), as amended;
(d) An annuity or mutual fund custodial account under section 403(b) of the Internal Revenue Code, 26 U.S.C. § 403(b), as amended;
(e) A pension, profit-sharing, stock bonus or other retirement plan qualified under section 401(a) of the Internal Revenue Code, 26 U.S.C. § 401(a), as amended;
(f) A plan under section 457(b) of the Internal Revenue Code, 26 U.S.C. § 457(b), as amended; and
(g) A nonqualified deferred compensation plan under section 409A of the Internal Revenue Code, 26 U.S.C. § 409A, as amended.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 162A.590. Retirement plans - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-13-guardianships-conservatorships-trusts/nv-rev-st-162a-590/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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