Powers of Attorney
A power of attorney is a legal document by which you appoint a person to act on your behalf as your agent. If you have appointed an agent by a power of attorney, acts of the agent within the authority spelled out in the power of attorney are legally binding
on you, just as though you performed the acts yourself.
PSRS/PEERS requires that a power of attorney be "durable." This means that the power of the agent to act on your behalf continues despite your later incapacity. Some PSRS/PEERS members choose to prepare a durable power of attorney to prepare for the possibility of
becoming incapacitated or otherwise unable to manage their financial affairs. With a durable power of attorney, it is possible to delegate to a trusted family member or friend the authority to make direct deposit arrangements or sign necessary documents
pertaining to your PSRS/PEERS benefits – and you can restrict this authority from becoming effective unless and until you become incapacitated.
PSRS/PEERS also requires that the power of attorney that is provided be either an original or a certified copy of the original. A certified copy requires the following language from a notary public:
"On this ___ day of ______________, 20 __, before me, the undersigned notary public, personally appeared ______________________, and provided me with the original durable power of attorney which I have compared to the attached document and that the attached document is a true and accurate copy of the original durable power of attorney.
In witness whereof, I hereunto set my hand and official seal."
Even if a member has a durable power of attorney on file, the member may still act on his or her own with regard to his or her PSRS/PEERS membership.