What Adoption of a 403(b) Plan Document Means

Q. What does adoption of a 403(b) plan document mean? 

A. Adoption of a 403(b) plan document means that an authorized individual of that employer signed it. The employer may have a board resolution that identifies the individual(s) authorized to execute documents on behalf of the plan. If the written 403(b) plan consists of a collection of documents, “adoption” means that the employer put a written 403(b) plan intended to satisfy IRS requirement in place in a timely manner.