Oklahoma § 15-1017 Construction of power relating to retirement plan

Oklahoma Statutes

§ 15-1017 — Construction of power relating to retirement plan

Oklahoma·Title 15 Contracts

transactions. 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.

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transactions. 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.

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