About 403(b)

Employer Roles

* Written Plan

Universal Availability

Home

 

More Info

Name

Email

Written Plan Requirements

A written plan is required for all 403(b) plan.

Here are some key features of this regulation:

•	All terms and conditions must be in the plan.
•	Written plan should be vendor neutral to accommodate multiple 403(b) contracts.
•	Written plan should require no more than one-time adoption of documents, with occasional updates for changes in laws/regulations.
•	Specific requirements of a written plan include, eligibility, benefits, contracts available under plan, delegation of roles and responsibilities.
•	Optional provisions such as loans, transfers and rollovers could be included.
•	Written plan must be in place by January 1,2009.