The Intern follows the 30 Rock actress as a founder of a fashion e-business, which will acquire seniors as interns as part of a community outreach programme.
Fey's character will be getting her own intern, who happens to be an over-70 widower retired from a middle management career, but the pair eventually develop an unlikely friendship.
Production could begin in 2013 with Paramount financing and distributing the comedy film, reports Deadline.
"Tina's character is much younger than me, but I was attracted to the pressures the character feels with her business, her husband and kids, and seeing all this from the point of view of a man who has been through it," Meyers said.
Meyers is also directing the ensemble dramedy The Chelsea with Felicity Jones.
Watch the trailer for Nancy Meyers's It's Complicated below: