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What is an ERISA bond, and who needs one?

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What is an ERISA bond, and who needs one?

This article explains what ERISA bonds are and when companies are required to purchase them.

Last updated on 28 Jan, 2022

An ERISA bond, or an Employee Retirement Income Security Act bond, is a type of fidelity insurance used to protect people who participate in employee benefit plans, such as a defined benefit plan, a pension fund, or a 401(k) plan.

The Department of Labor requires ERISA bonds for all individuals who have administrative access to employee benefit plan retirement funds/property. According to the Department of Labor:

"The fidelity bond required under ERISA specifically insures a plan against losses due to fraud or dishonesty (e.g., theft) by persons who handle plan funds or property."

ERISA bonds for amounts up to $500,000 are issued for flat rates with set premium pricing and do not require application underwriting. ERISA bonds can be purchased on our website 24/7.

If you have any questions about ERISA bonds at this time, email customercare@suretybonds.com or call 1 (800) 308-4358 to speak with one of our friendly representatives.

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