An ERISA bond is required as part of the Employee Retirement Income Security Act (ERISA). In 1974, the Employee Retirement Income Security Act (ERISA) was enacted to regulate most types of employee benefit plans such as 401K’s and Pension Plans. This act required a fidelity bond covering those responsible for managing the plan (fiduciary) and those that handle the funds or other property of the plan. The Fidelity Bond Coverage is issued to protect the plan from fraudulent or dishonest acts of those covered by the bond. The Act requires coverage to be issued no less than 10 percent of the plans funds with a maximum of $500,000.
As a national bond broker with a full line of commercial surety bonds, Allstar Surety makes applying for a ERISA bond easy. We’ll help your insured obtain a ERISA bond from us quickly, and at a competitive price.