Current as of January 01, 2018 | Updated by FindLaw Staff
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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 the following plans or accounts:
(a) An individual retirement account under section 408 of the Internal Revenue Code.
(b) A Roth individual retirement account under section 408A of the Internal Revenue Code.
(c) A deemed individual retirement account under section 408(q) of the Internal Revenue Code.
(d) An annuity or mutual fund custodial account under section 403(b) of the Internal Revenue Code.
(e) A pension, profit-sharing, stock bonus, or other retirement plan qualified under section 401(a) of the Internal Revenue Code.
(f) A plan under section 457(b) of the Internal Revenue Code.
(g) A nonqualified deferred compensation plan under section 409A of the Internal Revenue Code.
(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.
Cite this article: FindLaw.com - Wisconsin Statutes Uniform Power of Attorney (Ch. 244) § 244.55. Retirement plans - last updated January 01, 2018 | https://codes.findlaw.com/wi/uniform-power-of-attorney-ch-244/wi-st-244-55/
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