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Maine bonds

Maine — ERISA Bond

Arrange your plan's fidelity protection through this Maine ERISA bond listing. Choose a one-year or three-year RLI option and confirm the required amount when applying.

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

What this bond does

ERISA fidelity bonding protects plan assets against covered fraud or dishonesty by people handling its funds or other property.

Who needs it
Plan sponsors and administrators arranging required bonding for ERISA-covered asset handlers, unless an exemption applies.
Who is protected
The employee benefit plan must be named or otherwise specifically identified as insured. Fiduciary liability insurance is separate protection.

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.

Check the amount and dates independently

The 12-month and 36-month options specify how long the bond is intended to run. Neither option lists an amount here. Have the plan adviser determine the required sum from the handling activities and plan circumstances.

The Maine association does not create a separate state ERISA rule. Use the federal framework and check the plan identity, covered handlers and effective dates in the provider application.

Sources

Have these ready

  1. Gather the exact plan name and identifiers.
  2. Find any existing bond.
  3. List people handling or controlling plan funds.
  4. Prepare preceding-year funds-handled information.
  5. Confirm the amount and applicable exemptions.
  6. Coordinate the intended term and start date.

Questions about this bond

Is the employer insured for all business risks?

This bond protects the plan against covered fraud or dishonesty. It does not replace general business liability coverage.

Can fiduciary liability insurance satisfy bonding?

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

Does the longer term raise the limit?

Selecting three years does not itself increase the amount. Confirm the required amount separately.

How do I start the selected application?

Select Purchase Now. RLI opens in a new tab. After issuance, review the document and retain it with plan records.

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How can we help you get started?

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