What is a ERISA Bond?
An ERISA Bond is a type of surety bond required under the Employee Retirement Income Security Act (ERISA) for individuals who handle funds or property of employee benefit plans. This bond protects the plan against losses caused by acts of fraud or dishonesty by the plan’s fiduciaries or other individuals who manage the assets. The bond amount must be at least 10% of the plan assets, with a minimum of $1,000 and a maximum of $500,000 per plan (or $1 million for plans holding employer securities). By requiring an ERISA Bond, the federal government ensures that those entrusted with managing employee benefit plans do so with integrity and accountability, safeguarding the assets and interests of plan participants.
How to get a ERISA Bond in 3 easy steps with Southwest Bond Services
Start Your Online Application or Contact Us
Fill out our online application form or give us a call to request a free quote. Our team will promptly assess your requirements and provide you with a competitive quote tailored to your specific circumstances, ensuring clarity and transparency throughout the process.
Provide Required Information
Provide the necessary information requested by our team. Whether it's details about your project, business, or personal information, rest assured that your data will be handled securely and confidentially to facilitate a smooth experience.
Pay & Sign
Complete the process by making your payment for the bond premium and signing the required documents. Our team will guide you through the each step of the process to ensure accuracy and compliance with all legal and contractual requirements.
