In some cases, a member might grant another person legal authority to manage their pension benefits through the District of Columbia Retirement Board (DCRB). To give this trusted person decision-making authority on the member’s behalf, they must be the member’s designated durable Power of Attorney (POA). Below are frequently asked questions about POAs as they relate to DCRB and pension benefits, along with commonly used terms.
Definitions
- Agent: specifically related to DCRB, the agent is the trusted person chosen by the DCRB member to act on their behalf
- Durable Power of Attorney: a designated agent to manage your retirement accounts if you become incapacitated
- Principal: specifically related to DCRB, the principal is the DCRB member
Frequently Asked Questions
- What Is A Power of Attorney?
A Power of Attorney is a legal document that gives another person the authority to act on your behalf. If you want to give another person the legal authority to manage your DCRB pension benefits, you will need to execute a Power of Attorney to name that person as your authorized representative with respect to your retirement benefits. Once that person is officially authorized to act on your behalf, they are often called the member’s “Power of Attorney” as an informal reference.
Note that the POA with authority over your retirement benefits is not a medical POA, and a medical POA will not be accepted in place.
- What Rights Do I Have As A Power of Attorney?
A Power of Attorney gives your authorized representative the authority to contact DCRB to request information and ask questions about your pension benefits. Your agent may also apply for benefits on your behalf and provide banking information for where your benefits should be paid.
- How Do I Become A Power of Attorney?
A DCRB member must sign a POA document naming you as their authorized representative in the presence of a notary. DCRB provides a sample POA document that members may use to designate their representatives (you can find that here). Members are not required to use DCRB’s template and may provide their own POA documents. If you choose to provide your own POA document, note that each U.S. state has its own laws regarding how a POA is executed, witnessed, and notarized, and it is your responsibility to ensure your POA meets the legal requirements of the state where it is executed. For example, some states require a POA to be signed by two witnesses, whereas other states do not require witnesses. You can find state-specific POA forms with a simple internet search.
Note that DCRB cannot accept POA documents that don’t satisfy the execution rules of the state where signed.