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ERISA/Fidelity Bond

ERISA mandates qualified plans be covered by a fidelity  bond. The minimum bond
amounts required must be for a least 10% of plan assets  as of the beginning of
the plan year plus the anticipated contribution for the  plan year or $1,000,
whichever is greater. The maximum bond required is  generally $500,000.
Every  administrator, officer, and employee of any plan  who handles funds or other
property of such plan must be bonded. The bond protect  the plan against loss
"by reason of acts of fraud or dishonesty" on  the part of an administrator,
officer, or employee.

 Fiduciary  Liability Insurance
    
Fiduciaries have important responsibilities and are  subject to standards of
conduct because they act on behalf of participants in a  retirement plan and
their beneficiaries. With the additional focus on  fiduciaries and their
responsibilities for ERISA plans, many employers are  discussing fiduciary
liability insurance.

ERISA section 410  allows a plan to purchase insurance for its fiduciaries or for itself
covering  losses occurring from fiduciary breach.

We have partnered with Colonial Surety  Company, a leading provider of ERISA/Pension Fidelity Bonds. They are a 
national insurance company registered in all 50 states and all U.S.  territories, providing insurance products since 1930. They are the largest  direct seller of ERISA/Pension Fidelity Bonds in the U.S. Just click on the link above to get a quote or apply online for immediate online issuance of a fidelity bond.

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