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Georgia bonds

Georgia — ERISA Bond

Arrange fidelity protection for your employee benefit plan through this Georgia ERISA bond page. Choose a one-year or three-year term, then continue to RLI to apply.

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

What this bond does

The bond protects plan assets against covered fraud or dishonesty by people handling the plan's funds or other property.

Who needs it
Employers and plan administrators arranging bonding for ERISA-covered plan asset handlers, subject to applicable exemptions.
Who is protected
The plan is the insured party. This bond does not replace fiduciary liability insurance or ordinary 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.

Confirm the plan and amount

Have your adviser determine the required amount from the plan's handling activities and circumstances. The RLI choices specify 36 months or 12 months, with no amount listed here.

ERISA bonding rules are federal. The Georgia association does not create a separate state requirement. Check that the plan is named or otherwise specifically identified as insured when reviewing the application.

Sources

Have these ready

  1. Have the exact plan identity ready.
  2. Locate any existing bond.
  3. List people who handle plan assets.
  4. Gather preceding-year funds-handled information.
  5. Confirm the amount and any exemption with your adviser.
  6. Choose the intended term and effective date.

Questions about this bond

Who is protected?

The plan receives protection against covered fraud or dishonesty affecting its assets.

Can fiduciary liability insurance replace this bond?

No. It addresses breaches of fiduciary duties and does not satisfy ERISA's fidelity bonding requirement.

Does three years set a larger amount?

No. Duration and amount are separate. Confirm the required sum for your plan in the application.

What follows Purchase Now?

RLI opens in a new tab. Complete its application; after issuance, check the document and retain it with plan records.

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