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Alaska bonds

Alaska — ERISA Bond

Buying an ERISA bond for a plan associated with Alaska? Select the one-year or three-year RLI option after confirming the plan's required amount.

Also known as Alaska ERISA Bond (1 Year); Alaska ERISA Bond (3 Years); Alaska ERISA Bonds

2 options on record. Choose the one that matches your requirement, then purchase.

How a fidelity bond works

Fidelity protection responds to covered dishonest acts. The form identifies whose money or property is protected, the covered persons, and the applicable limits.

Bond family
Fidelity bond
Recorded state
Alaska
Category
Fidelity & employee dishonesty
Federal programme authority
United States Department of Labor, Employee Benefits Security Administration

What this bond does

ERISA fidelity bonding addresses losses to an employee benefit plan caused by covered fraud or dishonesty in handling plan assets.

Who needs it
Plan sponsors and administrators responsible for arranging fidelity bonding for people handling an ERISA-covered plan's funds, subject to applicable exemptions.
Who is protected
The employee benefit plan is insured. A bond for plan assets serves a different purpose from fiduciary liability insurance and general business liability coverage.

Choose from 2 options

Each option is a separate record. Where a term, bond amount, premium, or E&O limit is known, it is listed; match it to what your requirement asks for.

The coverage amount describes a limit of protection, not the price. Match the requested protection and covered persons to the actual fidelity form. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Match the application to the plan

Use the plan's identity, not just the employer's name, when checking the insured party. Include people with power to move or control plan assets when discussing handling activities with your adviser.

The Alaska association does not create an Alaska-specific ERISA rule. Federal requirements determine the appropriate amount; the 12-month and 36-month choices specify the protection period. Confirm both the amount and dates in the RLI application.

Sources

Have these ready

  1. Gather the exact plan name and identifying details.
  2. Find any existing bond and its effective dates.
  3. Identify employees and outside providers who handle assets.
  4. Prepare the preceding year's funds-handled information.
  5. Confirm the needed amount and exemptions with your adviser.
  6. Select the term that fits the intended coverage period.

Questions about this bond

Is this an Alaska state bond requirement?

ERISA fidelity bonding is federal. The state label identifies this catalog page and does not create a separate state amount or requirement.

Is the three-year option a larger bond?

The label describes duration. Confirm the required coverage amount separately; no fixed amount is listed for either option here.

Does fiduciary liability insurance satisfy the bonding requirement?

No. The fidelity bond protects the plan from covered fraud or dishonesty. Fiduciary liability insurance addresses breaches of fiduciary duties.

How do I proceed with the selected option?

Purchase Now opens RLI in a new tab. Complete its application and review the terms. After issuance, verify the plan details and retain the document.

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