Bond Coverage Details

Bond Amount: $10,000- $500,000
Bond Duration: 3 Years
Bond Cost: Varies (average cost is close to 1% of bond liability amount)
Protection: ERISA bonds protect the plan, its participants, and beneficiaries from losses due to acts like theft, embezzlement, forgery, misappropriation, and other dishonest acts.

Overview

The Employee Retirement Income Security Act (ERISA) mandates that anyone who handles funds or property of an employee benefit plan be bonded. The current total plan assets determine your ERISA bond amount. By law, each plan must have a bond of at least 10% of the previous year's funds, with a maximum of $500,000.

Your ERISA bond automatically includes Inflation Guard at no extra cost, increasing your coverage to meet ERISA requirements during the three-year term. This endorsement is only valid if the bond initially met the 10% minimum requirement.

ERISA Bond Questions

If you have questions about your purchase today, don’t hesitate to contact our team.

Our experts can help determine if this bond is the right fit for you, or if your business would benefit from a custom ERISA bond.