Indiana - ERISA Bond (3 Year Term)
The ERISA (Employee Retirement Income Security Act) Surety Bond is available in the state of Indiana. ERISA requires that plan officials who manage, oversee, recommend or handle funds or other property of an employee benefit plan must be covered by a personal fidelity Bond. If a plan official commits fraudulent or dishonest acts, this Bond ensures that the pension or health fund can recover some of its losses. The Bond only pays if the fraudulent administrator is financially unable to meet his obligations. Keep in mind that the plan official is personally responsible for any losses, not the company. A plan official must be Bonded for at least 10 percent of all qualified assets plus 100 percent of all non-qualified assets.
To learn more about ERISA visit the United States Department of Labor website.