Fidelity Bond Coverage

Generally, every retirement plan official who handles funds or other property of a plan must be bonded. A person shall be deemed to be "handling," so as to require bonding, whenever his or her duties with respect to the funds are such that there is a risk that the funds could be lost through theft or dishonesty. The bond must be purchased through an approved surety company and be in the amount of 10% of the plan’s assets. The minimum bond is $1,000 and the maximum is $500,000.

You are free to purchase a bond from a carrier of your choosing. Your current insurer may offer this coverage as an addendum to an existing policy of coverage or as a separate coverage. Symetra Financial has also established a relationship with a bonding company on a referral basis. Learn more about how to obtain Fidelity Bond Coverage.