Written 403(b) Plan Required Elements

Q. What are the required elements of the written 403(b) plan?

A. A written 403(b) plan must include the following: 

• terms and conditions for eligibility to participate;
• benefits available under the plan;
• IRS limits on contributions;
• IRS limits on loans, if the plan permits them;
• ways in which distributions are made; and
• time for accessing distributions.