Home Table of Contents

§ 1017. Retirement plans

Oklahoma Statutes AnnotatedTitle 15. Contracts

Oklahoma Statutes Annotated
Title 15. Contracts
Chapter 24. Uniform Statutory Form Power of Attorney Act (Refs & Annos)
15 Okl.St.Ann. § 1017
§ 1017. Retirement plans
Currentness
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. Make voluntary contributions to those plans;
3. Exercise the investment powers available under any self-directed retirement plan;
4. Make “rollovers” of plan benefits into other retirement plans;
5. If authorized by the plan, borrow from, sell assets to, and purchase assets from the plan; and
6. 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.

Credits

Laws 1998, c. 420, § 17, eff. Nov. 1, 1998.
15 Okl. St. Ann. § 1017, OK ST T. 15 § 1017
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document