ERISA/PENSION BOND

OBLIGEE: Subscribers to the profit sharing plan or pension plan

BOND AMOUNT: Coverage varies from $10,000 to $1,000,000 depending on need

BENEFICIARY OF BOND: When a company offers a profit sharing plan or a pension plan to an employee, the plan is generally handled by an individual. This bond secures the money in the plan from dishonest or fraudulent behavior on the plan's administrator's part.

WHY BOND IS REQUIRED: The Employee Retirement and Income Security Act (ERISA) was enacted in 1974 to protect employee participants' stake in a profit sharing plan or pension plan and requires the assets to be protected by a bond for 10% of the qualified assets.

WHO IS REQUIRED TO SECURE THIS BOND: A person who is the fiduciary of a profit sharing plan or a pension plan.

Click Here to Download Bond Application.