ERISA Sections 3(37) and Sec. 4001(a)(3)), define a multi-employer plan as a collectively bargained plan maintained by more than one employer, usually within the same or related industries, and a labor union. These plans are often referred to as “Taft-Hartley plans”. There are approximately 1,500 active multiemployer defined benefit pension plans, covering about 10.1 million participants, most of which work in the building and construction industries. Because of the complications inherent in managing this type of plan and the protocols for terminating one, very few carriers are willing to provide the mandatory fidelity bond coverage that these plans require. Surety One does! ERISA-Bonds.com is “THE” source for ERISA coverage regardless of your defined benefit plan structure. Visit our ERISA bond portal, contact us at (787) 333-0222 or email Underwriting@SuretyOne.com for assistance with your multiemployer ERISA bonding need.
