{"data":{"id":"us-me/18-c-m.r.s.-5-945","jurisdiction":"us-me","citation":"18-C M.R.S. §5-945","heading":"Retirement plans","body":"1.  Definition.  As used 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 federal Internal Revenue Code:\nA.  An individual retirement account under 26 United States Code, Section 408, as amended;\nB.  A Roth individual retirement account under 26 United States Code, Section 408A, as amended;\nC.  A deemed individual retirement account under 26 United States Code, Section 408(q), as amended;\nD.  An annuity or mutual fund custodial account under 26 United States Code, Section 403(b), as amended;\nE.  A pension, profit-sharing, stock bonus or other retirement plan qualified under 26 United States Code, Section 401(a), as amended;\nF.  A plan under 26 United States Code, Section 457(b), as amended; and\nG.  A nonqualified deferred compensation plan under 26 United States Code, Section 409A, as amended.\n2.  General authority.  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:\nA.  Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;\nB.  Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;\nC.  Establish a retirement plan in the principal's name;\nD.  Make contributions to a retirement plan;\nE.  Exercise investment powers available under a retirement plan; and\nF.  Borrow from, sell assets to or purchase assets from a retirement plan.","path":["TITLE 18-C: PROBATE CODE","PART 9: MAINE UNIFORM POWER OF ATTORNEY ACT"],"source_url":"https://legislature.maine.gov/statutes/18-C/title18-Csec5-945.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:29Z","sha256":"5e27e292321ffaef58aeae6758db0c9a3a603f88e7ea517dc6c5eae66af8ea02","source_id":"us-me","stale":false,"prev":"us-me/18-c-m.r.s.-5-944","next":"us-me/18-c-m.r.s.-5-946"},"notice":"GroundRules: Original legal text. Not legal advice."}