ERISA Policy - Ohio — required surety bond in Federal. Apply online in minutes.
An ERISA fidelity bond is a specialized type of insurance policy designed to protect employee benefit plans from losses caused by acts of fraud or dishonesty. It guarantees that plan participants and beneficiaries are safeguarded against the mismanagement or theft of plan funds by those entrusted to handle them.
This bond is generally required for individuals who act as fiduciaries or handle funds or other property of an employee benefit plan. This typically includes plan administrators, trustees, officers, and sometimes third-party service providers operating in Ohio or nationwide.
The federal government mandates this coverage to ensure the financial integrity of employee benefit plans, such as 401(k)s and pension funds. By requiring an ERISA bond, the obligee ensures there is a financial safety net in place if a plan official commits fraud or embezzlement. Specific bonding requirements vary, so plan sponsors should verify their exact needs with the Department of Labor or apply online for more information.
Securing your ERISA bond is simple when you click the Apply Now button on our website. You will complete a secure online application in about 5 minutes with Noah Insurance Agency. Once processed and approved, your official bond documents are conveniently delivered directly to your email.
An ERISA bond protects the employee benefit plan itself from fraud and dishonesty by those handling funds. Fiduciary liability insurance protects the fiduciaries themselves against claims of breaching their duties.
Coverage requirements vary based on the total assets of the plan and the type of assets held. You should verify the required bond amount with your plan advisor or the issuing agency, and apply online for exact figures.
The ERISA bond is designed specifically to protect the employee benefit plan and its participants from financial loss caused by dishonesty, rather than protecting the employer or the fiduciaries.
Because premiums vary based on the specifics of your plan, there is no flat rate. You can contact Noah Insurance Agency at 814-718-0060 or submit an application online to receive an exact premium quote.
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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