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Under Department of Labor (DOL) regulations, your retirement plan will need to maintain an ERISA Bond. A bond protects the assets in the plan from misuse or misappropriation by the Plan fiduciaries. Plan fiduciaries include the plan trustees and any person who has control over the management of the plan and its assets.
At the very least, the bond must be equal to 10% of the value of the total plan assets, with a minimum bond value of $1000 and a maximum bond value of $500,000. For the first year, the bond amount will be based on the estimated amount of assets that will be handled by the plan for the year.
If you have non-qualifying assets more than 5% of the total plan assets, the bond amount needs to be equal to 100% of these assets.