Va. Code § 64.2-1636: 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:1. An individual retirement account under Internal Revenue Code 26 U.S.C. § 408, as amended;2. A Roth individual retirement account under Internal Revenue Code 26 U.S.C. § 408A, as amended;3. A deemed individual retirement account under Internal Revenue Code 26 U.S.C. § 408 (q), as amended;4. An annuity or mutual fund custodial account under Internal Revenue Code 26 U.S.C. § 403 (b), as amended;5. A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code 26 U.S.C. § 401 (a), as amended;6. A plan under Internal Revenue Code 26 U.S.C. § 457 (b), as amended; and7. A nonqualified deferred compensation plan under Internal Revenue Code 26 U.S.C. § 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 authorizes 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; and6. Borrow from, sell assets to, or purchase assets from a retirement plan.2010, cc. 455, 632, § 26-109; 2012, c. 614.