Who needs this bond
Plan sponsors, trustees, and administrators of any ERISA-covered retirement, health, or welfare plan, including 401(k), pension, and self-funded health plans.
Typical amount and term
Bond amount must be at least 10 percent of plan assets handled, with a 1,000 dollar floor and a 500,000 dollar cap (1,000,000 dollars for plans holding employer securities).
What you will need
- Plan name, EIN, and most recent Form 5500 asset figure
- Name and address of the plan sponsor
- Whether the plan holds employer securities
How to apply
- Tell us your plan asset total and any employer securities exposure
- Receive an instant quote at the 10 percent statutory amount
- Bond issued same day; sponsor names the plan as insured