Board Resolutions: Qualified Retirement Plan Adoption

Summary

These board resolutions templates are for the adoption of a retirement plan intended to be qualified under I.R.C. § 401(a) and to authorize an application to the Internal Revenue Service for a determination letter on the plan's qualified status. This template has drafting notes, alternate clauses for use of a written consent in lieu of a meeting, and an optional clause to delegate authority to company officers or a plan administration committee to amend the plan for updates required by changes in law or IRS guidance. For a full listing of key content for in-house counsel and corporate secretaries when performing corporate functions, see In-House Corporate Secretary Resource Kit. For additional information about the determination letter process (now limited to determinations upon plan adoption, plan termination, and certain other limited circumstances), see Determination Letter Application Procedures and Determination Letter Application Resource Kit. For information on pre-approved plans, see Pre-approved Plan Design and Compliance.