Your practice’s employee benefit plan is protected from mismanagement and abuse by the U.S. Department of Labor with rules and standards of conduct for the people that handle your plan funds or property. This body of regulations is known as ERISA or The Employee Retirement Income Security Act.
Your Safety Net for Staff Benefit Funds
ERISA bonds can be essential to the security of your team’s assets.
ERISA Bonds at a Glance:
- Unlike other types of insurance, ERISA Bonds must be obtained through providers approved by the U.S. Department of Treasury.
- ERISA bonds and benefit limits are outlined by the U.S. Department of Treasury for uniform requirements.
- ERISA bonds may help protect employee benefit plans from losses as the result of fraud or dishonesty and may be required by law.
- An ERISA Bond may be required for certain individuals in relation to employee benefit plans.