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Colorado bonds

Colorado — ERISA Bond

Choose a one-year or three-year ERISA bond for your plan through this Colorado page. Have the required amount ready when you continue to RLI's application.

Also known as Colorado ERISA Bond (1 Year); Colorado ERISA Bond (3 Years); Colorado 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
Colorado
Category
Fidelity & employee dishonesty
Federal programme authority
United States Department of Labor, Employee Benefits Security Administration

What this bond does

This fidelity protection addresses covered fraud or dishonesty losses to an employee benefit plan's funds or property.

Who needs it
Plan sponsors and administrators arranging bonding for people who handle ERISA-covered plan assets, unless an exemption applies.
Who is protected
The plan is the insured party. The bond does not replace fiduciary liability insurance or insure ordinary business liabilities.

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.

Account for everyone who handles plan property

Review authority over plan assets as well as physical access to them. The Department of Labor's handling guidance includes power to transfer funds or direct disbursements, and can include outside service providers.

Federal ERISA rules govern the requirement; Colorado does not have a separate rule established by this listing. Determine the amount with your adviser. The two RLI choices specify 36 months or 12 months, with the amount to confirm during the application.

Sources

Have these ready

  1. Have the complete plan identity ready.
  2. Gather existing bond documents and dates.
  3. Identify people with transfer or disbursement authority.
  4. Prepare the preceding year's funds-handled information.
  5. Confirm the required amount and any exemption.
  6. Select the protection period and desired effective date.

Questions about this bond

Must someone physically hold cash to be a handler?

No. Authority to control or move plan property can create a bonding obligation, subject to applicable exemptions.

Is there a fixed amount for these options?

No amount is stated here. Confirm the required sum for your plan separately from choosing the one-year or three-year term.

Can fiduciary liability insurance replace bonding?

No. It concerns breaches of fiduciary responsibilities and does not satisfy the ERISA fidelity bonding requirement.

What follows Purchase Now?

The selected RLI application opens in a new tab. Review it before completing it. After issuance, check the document and retain it in the plan's records.

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How can we help you get started?

Choose the quote that fits, and we’ll take it from there.

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