ERISA Bonds

ERISA surety bonds are a requirement of the Employment Retirement Security Act (ERISA) for fiduciaries of pension or profit sharing funds. The bonds provide employees with protection in the event that fraudulent or dishonest acts are committed by employee benefit plan administrators. The minimum surety bond amount is 10% of the plan fund balance administered by the official. The surety bond is required by federal law for all individuals who:

• Have physical contact with cash, checks or other plan assets
• Negotiate or transfer funds for the plan
• Disburse funds or negotiate and execute documents on behalf of the plan
• Exercise authority over any of the above activities

The following table outlines pricing offered for ERISA bonds up to $500,000 without a credit check required. The prices are based on bond amounts needed and a 3-year bond term and are subject to satisfactory application responses. Pricing below pertains to all states except AK, AR, NE, OK, VA and WY. ERISA bond amounts above $500,000 require a credit check.

ERISA Compliance Bond - 3 year terms

This program has been designed to meet the ERISA Compliance Bond Requirements as mandated by the U.S. Department of Labor. In order to be eligible for the coverage, the insured plan must be non union, single employer and required to provide this bond by the Employee Retirement Income Security Act of 1974. Policy has inflation guard so it automatically increases to meet the DOL requirements if you purchased the appropriate amount at the time of initial purchase with no premium change. Plans where non-qualified investments and assets are more than 10% of plan value are not eligible for instant pricing.