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February 23, 2009

Fidelity bond

Your Guide

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Definition

Bond purchased (from a surety company that holds a grant of authority from the Secretary of the Treasury as an acceptable surety on Federal bonds), to cover the bonding requirements that apply to ERISA plans.

Referring Cite

ERISA § 412, 29 CFR §2550.412-1

Additional Helpful Information

Fiduciaries of an employee benefit plan and individuals  who handle funds or other property of such a plan are generally required to be bonded to protect the plan against fraud and dishonesty.

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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