Georgia § 10-6B-54 - Retirement plans.
Full text of Georgia Official Code of Georgia Annotated § 10-6B-54 — Retirement plans., with citation guidance and answers to common questions.
§ 10-6B-54. Retirement plans.
As used in this Code section, the term "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 such principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code: An individual retirement account under Internal Revenue Code Section 408, 26 U.S.C. Section 408, in effect on February 1, 2018; A Roth individual retirement account under Internal Revenue Code Section 408A, 26 U.S.C. Section 408A, in effect on February 1, 2018; A deemed individual retirement account under Internal Revenue Code Section 408(q), 26 U.S.C. Section 408(q), in effect on February 1, 2018; An annuity or mutual fund custodial account under Internal Revenue Code Section 403(b), 26 U.S.C. Section 403(b), in effect on February 1, 2018; A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code Section 401(a), 26 U.S.C. Section 401(a), in effect on February 1, 2018; A plan under Internal Revenue Code Section 457(b), 26 U.S.C. Section 457(b), in effect on February 1, 2018; and A nonqualified deferred compensation plan under Internal Revenue Code Section 409A, 26 U.S.C. Section 409A, in effect on February 1, 2018. 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: Select the form and timing of payments under a retirement plan and withdraw benefits from a plan; Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another; Establish a retirement plan in the principal's name; Make contributions to a retirement plan; Exercise investment powers available under a retirement plan; and Borrow from, sell assets to, or purchase assets from a retirement plan. (Code 1981, § 10-6B-54 , enacted by Ga. L. 2017, p. 435, § 2-1/HB 221; Ga. L. 2018, p. 520, § 22/HB 897.) The 2018 amendment, effective July 1, 2018, substituted "February 1, 2018" for "February 1, 2017" in paragraphs (a)(1) through (a)(7).
Frequently Asked Questions About Georgia § 10-6B-54
What does Official Code of Georgia Annotated § 10-6B-54 cover?
Section 10-6B-54 ("Retirement plans.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 10-6B-54?
A common citation format is "Official Code of Georgia Annotated § 10-6B-54" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 10-6B-54 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.