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  • Application For Pension Trust (erisa) Name Schedule Bond Nonunion Plans Only Qualifying Assets Only

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APPLICATION FOR PENSION TRUST (ERISA) NAME SCHEDULE BOND Non-Union Plans Only Qualifying Assets Only Requested Bond Amount: $ Effective Date: (Amount applies to each fiduciary listed below) Is this.

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ERISA Fidelity coverage is a type of insurance that helps protect an employee benefit plan against losses caused by acts of fraud or dishonesty, such as larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction, wrongful conversion and willful misapplication.

An ERISA fidelity bond is a type of insurance that protects a 401(k) plan from losses caused by acts of fraud or dishonesty (e.g., theft, embezzlement or forgery) by “plan officials.” ERISA fidelity bonds can only be purchased from a surety or reinsurer that's named on the Department of the Treasury's Listing of ...

Non-qualifying assets: When a plan contains non-qualifying assets such as real estate, limited partnerships, gold, diamonds, etc., the assets must be bonded at 100%. However, where the non-qualifying assets are less than 5% of the total assets in the plan, all assets can be bonded as qualifying (10%).

As described above, the main difference between ERISA bond and fiduciary coverage is what each insures. Whereas the ERISA fidelity bond protects the participants in the plan, the fiduciary liability insurance covers the business owners and individuals operating that plan.

An ERISA bond covers employees who manage or have fiduciary responsibility for the company's retirement fund. A fidelity bond covers employees who may not be able to receive a bond due to concerns with their personal background or employment history.

An ERISA bond must have a coverage amount (known in surety bond terms as a penalty sum) equal to at least 10 percent of the plan assets that the fiduciary handles. In most cases, the minimum amount of coverage required is $1,000 and the maximum amount is $500,000.

Qualifying assets include items held by a financial institution such as a bank, insurance company, mutual funds, etc. Non-qualifying assets are those not held by any financial institution, including tangibles such as artwork, collectibles, and real estate.

Anyone who handles the funds or other property of an employee benefit plan is required to be bonded unless they fall under an exempt category. ERISA makes it an unlawful act for any person to “receive, handle, disburse, or otherwise exercise custody or control of plan funds or property” without being properly bonded.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232