South Dakota § 59-12-37 Retirement plans.

South Dakota Statutes

§ 59-12-37 — Retirement plans.

South Dakota § 59-12-37

Title 59AGENCY

Ch. 59-10UNIFORM POWER OF ATTORNEY ACT

This text of South Dakota § 59-12-37 (Retirement plans.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 59-12-37 (2026).

Text

(1)For purposes of this section, the term, 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 26 U.S.C. § 408;

(b)A Roth individual retirement account under 26 U.S.C. § 408A;

(c)A deemed individual retirement account under 26 U.S.C. § 408(q);

(d)An annuity or mutual fund custodial account under 26 U.S.C. § 403(b);

(e)A pension, profit-sharing, stock bonus, or other retirement plan qualified under 26 U.S.C. § 401(a);

(f)A plan under 26 U.S.C. § 457(b); and (g) A non

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(1) For purposes of this section, the term, 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 26 U.S.C. § 408; (b) A Roth individual retirement account under 26 U.S.C. § 408A; (c) A deemed individual retirement account under 26 U.S.C. § 408(q); (d) An annuity or mutual fund custodial account under 26 U.S.C. § 403(b); (e) A pension, profit-sharing, stock bonus, or other retirement plan qualified under 26 U.S.C. § 401(a); (f) A plan under 26 U.S.C. § 457(b); and (g) A nonqualified deferred compensation plan under 26 U.S.C. § 409A. (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: (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; and (f) Borrow from, sell assets to, or purchase assets from a retirement plan.