ERISA Bonding Coverage and FLI Protection

ERISA Fidelity Bond

ERISA mandates qualified plans be covered by a fidelity bond. The minimum bond amounts required must be for at least 10% of plan assets as of the beginning of the plan year plus the anticipated contribution for the plan year or $1,000 whichever is greater. The maximum required is generally $500,000. Every administrator, officer, and employee of any plan who handles funds or other property of such plan must be bonded. The bond protects the plan against loss “by reason of acts of frauds or dishonesty” on the part of the administrator, officer, or employee. Fiduciary Liability Insurance

Fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of participants in a retirement plan and their beneficiaries. With the additional focus on fiduciaries and their responsibilities for ERISA plans, many employers are discussing fiduciary liability insurance. ERISA section 410 allows a plan to purchase insurance for its fiduciary or for itself covering losses occurring from fiduciary breach. Vestalife expands offerings with three new systems ultimate ears intros metrofi 170, 220 earphones related stories apple introduces catch a cheater android clips video app apple unveils new upgraded entry-level 9. We have partnered with Colonial, a leading provider of ERISA/Pension Fidelity Bonds. They are a national insurance company registered in all 50 states and U. S territories, providing insurance products since 1930. They are the largest direct seller of ERISA/Pension Fidelity Bonds in the U. S. Just click on one of the links below to get a quote or apply online for immediate online issuance of a fidelity bond.