{"data":{"id":"us-sc/s.c.-code-ann.-62-8-215","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 62-8-215","heading":"Retirement plans.","body":"(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:\n(1) an individual retirement account under Internal Revenue Code 26 U.S.C. Section 408, as amended;\n(2) a Roth individual retirement account under Internal Revenue Code 26 U.S.C. Section 408A, as amended;\n(3) a deemed individual retirement account under Internal Revenue Code 26 U.S.C. Section 408(q), as amended;\n(4) an annuity or mutual fund custodial account under Internal Revenue Code 26 U.S.C. Section 403(b), as amended;\n(5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code 26 U.S.C. Section 401(a), as amended;\n(6) a plan under Internal Revenue Code 26 U.S.C. Section 457(b), as amended; and\n(7) a nonqualified deferred compensation plan under Internal Revenue Code 26 U.S.C. Section 409A, as amended.\n(b) Unless the power of attorney otherwise provides and subject to Section 62-8-201, language in a power of attorney granting general authority with respect to retirement plans authorizes the agent to:\n(1) select the form and timing of payments under a retirement plan, including election of survivor benefits, and withdraw benefits from a plan;\n(2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;\n(3) establish a retirement plan in the principal's name;\n(4) make contributions to a retirement plan;\n(5) exercise investment powers available under a retirement plan; and\n(6) borrow from, sell assets to, or purchase assets from a retirement plan.","path":["Title 62 - SOUTH CAROLINA PROBATE CODE","ARTICLE 8 South Carolina Uniform Power of Attorney Act","Part 2 Authority"],"source_url":"https://www.scstatehouse.gov/code/t62c008.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T08:08:59Z","sha256":"9de11506bf154107ac732429c4fea3876c72187516c68d51aba7783cb6e0c996","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-62-8-214","next":"us-sc/s.c.-code-ann.-62-8-216"},"notice":"GroundRules: Original legal text. Not legal advice."}