{"data":{"id":"us-ky/krs-457.380","jurisdiction":"us-ky","citation":"KRS 457.380","heading":"Retirement plans.","body":"(1) 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:\n(a) An individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. sec. 408, as amended;\n(b) A Roth individual retirement account under Internal Revenue Code Sectio n 408A, 26 U.S.C. sec. 408A, as amended;\n(c) A deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. sec. 408(q), as amended;\n(d) An annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. sec. 403(b), as amended;\n(e) A pension, profit -sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. sec. 401(a), as amended;\n(f) A plan under Internal Revenue Code Section 457(b), 26 U.S.C. sec. 457(b), as amended; and\n(g) A nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. sec. 409A, as amended.\n(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:\n(a) Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;\n(b) Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one (1) retirement plan to another;\n(c) Establish a retirement plan in the principal’s name;\n(d) Make contributions to a retirement plan;\n(e) Exercise investment powers available under a retirement plan; and\n(f) Borrow from, sell assets to, or purchase assets from a retirement plan.","path":["KRS Chapter 457"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=50168","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:59Z","sha256":"c550977ddcf902311aa2d35aff9c3df5a585b674af5d20bb7e4681f9dfd3e4f4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-457.370","next":"us-ky/krs-457.390"},"notice":"GroundRules: Original legal text. Not legal advice."}