U.S. employers that offer retirement plans like 401(k)s must comply with fiduciary standards set by the Employee Retirement Income Security Act of 1974 (ERISA). A key ERISA requirement is the use of fidelity bonds to protect plan assets from loss due to fraud or dishonesty by individuals who manage or handle those funds.
For independent agents and brokers who already place group benefits or retirement-related products, ERISA bonds are a natural extension of your services. These bonds are easy to place, competitively priced, and relatively low risk. Offering them helps clients meet Department of Labor requirements while reinforcing your role as a trusted advisor in employee benefits compliance.
