- What are the different Retirement Plan Contribution Limits?
- Why does my Qualified Plan require a Fidelity Bond?
- ERISA’s bonding requirements are intended to protect employee benefit plans from risk of loss due to fraud or dishonesty on the part of the trustee or persons who handle plan funds or other property. The bond must cover at least 10% of the assets handled by the specific employees (or outside service providers if the employer intends that the bond cover such providers), but cannot be less than $1,000. The fidelity bond should be available through your current business insurance agent.