§551E-45 Retirement plans. (a) 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 a plan or account under the following sections of the Internal Revenue Code of 1986, as amended:
(1) An individual retirement account under Internal Revenue Code section 408, title 26 United States Code section 408, as amended;
(2) A Roth individual retirement account under Internal Revenue Code section 408A, title 26 United States Code section 408A, as amended;
(3) A deemed individual retirement account under Internal Revenue Code section 408(q), title 26 United States Code section 408(q), as amended;
(4) An annuity or mutual fund custodial account under Internal Revenue Code section 403(b), title 26 United States Code section 403(b), as amended;
(5) A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code section 401(a), title 26 United States Code section 401(a), as amended;
(6) A plan under Internal Revenue Code section 457(b), title 26 United States Code section 457(b), as amended; and
(7) A nonqualified deferred compensation plan under Internal Revenue Code section 409A, title 26 United States Code section 409A, as amended.
(b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans shall authorize the agent to:
(1) Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;
(2) Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;
(3) Establish a retirement plan in the principal's name;
(4) Make contributions to a retirement plan;
(5) Exercise investment powers available under a retirement plan; and
(6) Borrow from, sell assets to, or purchase assets from a retirement plan. [L 2014, c 22, pt of §1]
Structure Hawaii Revised Statutes
Title 30. Guardians and Trustees
551E. Uniform Power of Attorney Act
551E-4 Nomination of conservator or guardian; relation of agent to court-appointed fiduciary.
551E-5 Effective date of power of attorney.
551E-6 Termination of power of attorney or agent's authority.
551E-7 Co-agents and successor agents.
551E-8 Reimbursement and compensation of agent.
551E-14 Agent's resignation; notice.
551E-15 Acceptance of and reliance upon acknowledged power of attorney.
551E-16 Liability for refusal to accept acknowledged power of attorney.
551E-17 Principles of law and equity.
551E-18 Laws applicable to financial institutions and entities.
551E-19 Remedies under other law.
551E-31 Authority that requires specific grant; grant of general authority.
551E-32 Incorporation of authority.
551E-33 Construction of authority generally.
551E-35 Tangible personal property.
551E-37 Commodities and options.
551E-38 Banks and other financial institutions.
551E-39 Operation of entity or business.
551E-40 Insurance and annuities.
551E-41 Estates, trusts, and other beneficial interests.
551E-42 Claims and litigation.
551E-43 Personal and family maintenance.
551E-44 Benefits from governmental programs or civil or military service.
551E-51 Statutory form power of attorney.
551E-52 Agent's certification.
551E-61 Uniformity of application and construction.
551E-62 Relation to Electronic Signatures in Global and National Commerce Act.