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Mississippi bonds

Mississippi — ERISA Bond

Arrange ERISA fidelity protection for your employee benefit plan through this Mississippi listing. Choose a one-year or three-year RLI application for the intended period.

Also known as Mississippi ERISA Bond (1 Year); Mississippi ERISA Bond (3 Years); Mississippi 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
Mississippi
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 plan funds or property.

Who needs it
Plan sponsors and administrators arranging required bonding for ERISA-covered asset handlers, unless an exemption applies.
Who is protected
The plan is the insured party. Fiduciary liability insurance and general business liability coverage protect against different risks.

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 handling activities before applying

Discuss who controls plan property with your adviser, including people who can direct transfers and disbursements. That review helps establish the required amount and relevant exemptions.

The 12-month and 36-month terms do not state amounts here. Confirm the sum separately in RLI's application. ERISA bonding is federal; the Mississippi label does not establish a separate state mandate.

Sources

Have these ready

  1. Gather the plan's exact identity.
  2. Locate any current bond.
  3. List people controlling or handling assets.
  4. Prepare preceding-year funds-handled information.
  5. Confirm the amount and exemptions.
  6. Coordinate the proposed dates and term.

Questions about this bond

Does handling require physical possession of cash?

No. Power to transfer or control plan property can also create a bonding obligation, subject to exemptions.

Is three years a coverage amount?

It describes duration. The required sum must be determined separately for your plan.

Can fiduciary liability insurance replace the bond?

No. It does not satisfy ERISA's fidelity bonding requirement for covered fraud or dishonesty losses.

How do I proceed?

Select Purchase Now for the intended term. RLI opens in a new tab. After issuance, check and retain the document with plan records.

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