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; and6. 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.Added by Laws 1998, c. 420, § 17, eff. Nov. 1, 1998.
Oklahoma Legal Code