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401(k) bond

ERISA Fidelity Bond and a KSOP

An ERISA fidelity bond, with few exceptions, is required by federal law (ERISA) for the protection of plan assets from the dishonest acts of plan trustees. An Employee Stock Ownership Plan (ESOP) is not generally an exception. A hybrid of… Continue Reading →

DOL Prosecutes Plan without ERISA Bond ~ Chao v. Snyder & Snyder Farm Supply, Inc.

We’ve been reporting for years that there is a great deal of non-compliance with ERISA bond requirements. Our advice has always been that regardless of your plan size, number of participants or your opinion about exemptions for your plan, it… Continue Reading →

ERISA Fidelity Bond Reminder for 2014.

Do you have the statutorily required ERISA fidelity bond in place?  The first of the year is a good moment to review your compliance checklist!  Federal ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1 and 29 C.F.R. Part… Continue Reading →

What does an ERISA bond cover?

Since we write a looooooooooooot of of ERISA fidelity bonds, we get this particular question very frequently.  The best “legal” definition is contained within the U.S. Department of Labor’s circular FAB 2008-04.  An ERISA section 412 bond must protect the… Continue Reading →

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