What Is an ERISA Bond? An ERISA bond (also called an ERISA fidelity bond) protects employee benefit and retirement plans from losses caused by fraud, theft, or dishonesty. It’s required under ERISA Section 412 for anyone who handles plan funds or property. Think of it as insurance for your 401(k) or benefits plan against insider […]
Category Archives: Fidelity Bonds
15
Dec
Dec
Today, we unravel the concept of fidelity bonds and their importance in safeguarding businesses against employee dishonesty. In this handy guide, we’ll cover what fidelity bonds are, how they function, how claims work, and more. Let’s get started! What is a fidelity bond? A fidelity bond, also known as an employee dishonesty bond or crime […]
12
Dec
Dec
Retirement plans play a crucial role in securing the financial future of employees. It’s vital to have mechanisms in place to protect these plans from mismanagement or fraudulent activities. One such mechanism is the ERISA bond. In this blog post, we’ll explore what an ERISA bond is, why it’s required, who needs it, how much […]