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This product or service is offered through COPIC Financial |
If you provide medical, dental, life, or pension benefits to your employees, you are personally liable for the plan assets with which you have been entrusted.
An ERISA Fidelity Bond helps protect the plan and its participants against fraud or dishonesty by the bonded trustee or fiduciary.
Currently, for plan years beginning December 31, 2007, there is an increase in the maximum amount of the required bond from $500,000 to $1,000,000 for any ERISA plans that hold "employer securities". ERISA defines employer securities as "a security issued by an employer of employees covered by the plan, or by an affliate of such employer."
If you do not have ERISA fidelity bond coverage and you are the victims of an embezzlement involving your company's employee benefit plan, you could end up paying losses out of company funds, as well as pay fines or penalties for not being in compliance with ERISA.
Order an ERISA Fidelity Bond from The Hartford.
Contact Kristin Heylmun at (720) 858-6297 or (800) 421-1834 ext. 6297 for more information.