ERISA Bond
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At a Glance
Seabury & Smith offers both 1st and 3rd Party ERISA Bonds (for Investment Advisors). These bonds protect against acts of fraud or dishonesty by any officer, trustee, employee, administrator or manager of the insured benefit plan. As defined by the Employee Retirement Income Security Act of 1974, the limit of liability must be 10% of each plan’s assets, subject to a minimum of $1,000 and up to a maximum of $500,000.
1st Party ERISA Bonds
To protect the assets in your qualified pension and 401(k) plans as required by ERISA.
3rd Party Fidelity Bonds
For Investment Advisors with non-discretionary control, we can tailor a bond to incorporate all of the plans you manage and administer to protect the qualified assets of those plans and satisfy your bonding requirement under ERISA.
What determines qualified vs. non-qualified?
Qualifying plan assets are those held by a financial institution, such as a bank, insurance company, broker-dealer or regulated entity, mutual funds, participant loans, qualifying employer securities and self directed individual account plans.
Non-qualifying plan assets are those not held by a bank or financial institution. For instance, a limited partnership, artwork, collectibles, mortgages, real-estate and securities of "closely held" companies are examples of non-qualified plans.
Non-qualifying plan assets are those not held by a bank or financial institution. For instance, a limited partnership, artwork, collectibles, mortgages, real-estate and securities of "closely held" companies are examples of non-qualified plans.
How to Apply
Please click here to download the 1st Party ERISA Bond Application or click here to download the 3rd Party ERISA Bond Application. You may fax your completed application to 1-202-367-5020, or you may mail it to our office at the address below. You can also find a link to the application under Forms & Links on this page.
AR Ins. Lic. #245544
CA Ins. Lic. #0633005
d/b/a in CA Seabury & Smith Insurance Program Management
AR Ins. Lic. #245544
CA Ins. Lic. #0633005
d/b/a in CA Seabury & Smith Insurance Program Management
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