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South Carolina bonds

South Carolina — ERISA Bond

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

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

What this bond does

The bond protects plan funds or property against covered fraud or dishonesty by people handling those assets.

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 insured. The bond does not replace fiduciary liability insurance or ordinary business liability 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.

Review handlers and the required amount

Discuss people with authority to control or move plan assets with your adviser. Outside providers can also need bonding if they or their employees handle those assets, unless exempt.

Determine the amount independently of the 12-month or 36-month term; no amount is listed here. Federal ERISA rules govern the requirement. The South Carolina association creates no separate state mandate.

Sources

Have these ready

  1. Have the full plan identity ready.
  2. Find existing bond details.
  3. List employees and outside handlers.
  4. Gather preceding-year funds-handled information.
  5. Confirm the amount and any exemption.
  6. Choose the term and effective date.

Questions about this bond

Can an outside provider need bonding?

Yes, if it or its employees handle plan funds or property and no exemption applies.

Is three years a higher limit?

It describes duration. Confirm the required amount for the plan separately.

Can fiduciary liability insurance satisfy bonding?

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

Where do I apply?

Purchase Now opens the selected RLI application in a new tab. After issuance, check and retain the document with plan records.

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How can we help you get started?

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