The Employee Retirement Income Security Act, otherwise known as ERISA, regulates self-directed pension plans. Part of this law requires fidelity bond coverage to protect the beneficiaries (normally employees) from financial loss caused by a trustee of the pension plan.
Every fiduciary (trustee) or person handling funds within a plan must be bonded. There are exceptions. You should consult with your CPA or attorney for specific requirements.
State Farm can provide your business retirement or pension plan as well as the fidelity bond. Contact your local State Farm agent today!
Access account info
