ERISA Policy - California — required surety bond in Federal. Apply online in minutes.
An ERISA fidelity bond is a specialized policy that protects employee benefit plans from financial losses caused by acts of fraud or dishonesty. It acts as a safeguard to ensure that retirement and health plan funds are secure from theft, embezzlement, or forgery by those managing the assets.
Fiduciaries, trustees, administrators, and any other individuals who handle funds or property of an employee benefit plan typically need this bond. This applies to sponsors of retirement plans, pension plans, and certain health and welfare benefit plans operating in California and nationwide.
The Department of Labor generally requires this coverage to protect the financial interests of plan participants and beneficiaries. By holding this policy, plan sponsors demonstrate compliance with federal oversight regulations while providing a mechanism to recover misappropriated plan assets.
Click the Apply Now button to complete a secure online application in about five minutes. Once processed, Noah Insurance Agency will deliver your bond documents directly to you via email.
Premiums vary based on the required bond limit, the type of benefit plan, and the applicant's underwriting qualifications. To get an exact figure, please apply online or call Noah Insurance Agency at 814-718-0060.
Bond amount requirements vary depending on the total funds handled by the plan fiduciaries. You must verify the exact figures and requirements with the Department of Labor or your plan administrator.
No, they serve different purposes. An ERISA bond protects the plan itself against financial loss from fraud and dishonesty, whereas fiduciary liability insurance protects the fiduciaries against claims of breaching their management duties.
TPAs and other service providers may need to be bonded if they handle plan funds, but individual requirements vary greatly. Always verify specific bonding obligations with the issuing agency or your legal counsel.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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