Administrative Retirement Services, Inc. has partnered with Colonial Surety Company to offer online access to purchase or renew your ERISA/Fidelity Bond. Colonial Surety is a national insurance company registered in all 50 states and all U.S. territories, providing insurance products since 1930. They are the largest direct seller of ERISA/Pension Fidelity Bonds in the United States.
Click on the blue button below to get a quote or apply online for immediate issuance of a fidelity bond. You will be directed to the Colonial Surety website in a new window.
Please enter referral code IL0226 into the form that appears on the Colonial Surety website.
ERISA mandates qualified plans be covered by a fidelity bond. The minimum bond amounts required must be for a least 10% of plan assets as of the beginning of the plan year plus the anticipated contribution for the plan year or $1,000, whichever is greater. The maximum bond required is generally $500,000.
Fiduciary Liability Insurance
Fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of participants in a retirement plan and their beneficiaries. With the additional focus on fiduciaries and their responsibilities for ERISA plans, many employers are discussing fiduciary liability insurance.
ERISA section 410 allows a plan to purchase insurance for its fiduciaries or for itself covering losses occurring from fiduciary breach.