Welcome to Surety Solutions, A Gallagher Company.

Get your ERISA Fidelity Bond online.

How much does an ERISA Fidelity Bond cost?

Estimated ERISA Fidelity Bond Costs*

*Actual costs vary by specific state and are based on carrier rate filings.

Bond Amount 3-Year Prepaid Premium Quote
$25,000 $215 Get Quote
$50,000 $230 Get Quote
$75,000 $273 Get Quote
$100,000 $300 Get Quote
$125,000 $314 Get Quote
$150,000 $327 Get Quote
$200,000 $352 Get Quote
$250,000 $376 Get Quote
$300,000 $401 Get Quote
$350,000 $425 Get Quote
$400,000 $449 Get Quote
$450,000 $473 Get Quote
$500,000 $498 Get Quote

Why you need an ERISA Bond

The purpose of the Employee Retirement Income Security Act (ERISA) of 1974 is to protect participants and their beneficiaries of an employee benefit plan. The ERISA Fidelity Bond, a requirement of the U.S. Department of Labor, ensures the funds from 401k plans, pensions and other employee benefits are protected if you, the plan administrator, steals or performs other fraudulent acts.

You must adhere to this federal law and get an ERISA Bond if you are responsible for any of the following:

  • Disburse, move or negotiate plan funds
  • Implement or negotiate documents related to the plan
  • Physically handle checks, money or other assets of the plan

What is a Fidelity Bond?

See what our clients have to say about us on Google:

Easiest system to use and, by far, the fastest company with providing E&O and Surety bond insurance. HIGHLY recommend!
Mortgage H.
Mortgage H.
20:51 02 Mar 22
Surety Solutions goes above and beyond their duty to make their customer feel confident that they are choosing the right company. Jessi Wimer personally helped me through the process. She was very informative and made sure that every concern I had was dealt with in the most professional and efficient way. Thank you for your hard work!
Chris L.
Chris L.
17:07 08 Feb 22
Excellent service; they exceeded my expectations in timeliness and professionalism.
Bridgette M. B.
Bridgette M. B.
23:24 10 Dec 21
Client services provided quick and accurate responses.
James G.
James G.
17:49 30 Nov 21
Very helpful and they respond quickly to any questions.
Eva Hammel H.
Eva Hammel H.
16:46 30 Nov 21
Katrina Fearn, Client Service Manager at Surety, is an absolute pleasure to work with!! She is always highly responsive, and has provided me nothing but excellent service since our first interaction. I highly recommend working with her and the Surety team. They will always go above and beyond. Thank you for all that you've done!
Zakieh A.
Zakieh A.
16:38 04 Nov 21
I have been working with Steve Shike and he has been so helpful. I purchased the wrong bond and Steve instantly requested a refund on my behalf and called back with the good news. I appreciate him for helping me figure out my situation in such a timely matter. Thank you Steve for responding to my calls and emails promptly.
Ashley W.
Ashley W.
18:25 10 Aug 21
Gerry J.
Gerry J.
16:30 08 Aug 21
Katrina and Surety Solutions was awesome to work with and made the process seamless. Even after I, PERSONALLY, made a mistake and caused a delay, Katrina was able to spot my mistake and kindly address the error while still delivering my bond as if nothing had happened.I have nothing but good things to say about Surety Solutions.
Xavier A.
Xavier A.
15:40 22 Jul 21
jerry T.
jerry T.
04:44 03 Jul 21
Katrina and Surety Solutions were very helpful and fast. I needed to change the bond I ordered and they handled that within minutes. Their response time to emails and request were great and that is why I will continue to work them both. All I ask for is relatively decent response time when there are issues that need resolved and Katrina far exceeded that and was friendly on top of everything else. Well done.Kris
Kristopher M.
Kristopher M.
14:23 24 Jun 21
Grace answered the phone immediately with a positive attitude and willingness to help. She followed through professionally and promptly through entire process.
Danny S.
Danny S.
14:41 15 Jun 21
Surety Solutions has been the most amazing and easiest company to work with on Bonds in my past 17 years of doing insurance. They are very quick to respond and very personal to work with. Jake Durrant is absolutely the best!
Bonnie A.
Bonnie A.
20:39 20 May 21
Suzie T.
Suzie T.
17:14 07 May 21
Easy experience.
Tonya B.
Tonya B.
01:18 21 Apr 21
I had the pleasure of working with Katrina Fearn to obtain mortgage broker surety bonds and I can say with zero hesitation, that she is wonderful to work with. Extremely responsive, communicative and helpful. Surety Solutions + Katrina = Great Partnership. Thanks!!!
Ryan M.
Ryan M.
20:18 19 Apr 21
Can't say enough good things about Katrina Fearn, she was exceptionally prompt, responsive and a true professional in getting me the bond in a timely manner. Just amazing customer service.
Umesh M.
Umesh M.
23:34 07 Apr 21
I needed a copy of my bond and with people working form home I thought is was going to take a long time. I got an email with the copy of my bond with in minutes. Never seen anything like that. Very Professional and fast response. thank you for good business ethic
Ernesto U.
Ernesto U.
19:08 10 Feb 21
Just obtained Mortgage Broker Surety Bond for two states. not only the price was right but service and professionalism exceeded my expectations. i can't thank Steve enough and wish i knew them sooner.
Ruslan K.
Ruslan K.
22:43 08 Jan 21
I bought a surety bond for my business. The name on the application has my middle name on it and the policy didn't. That would or could have created a problem. I wrote to customer service to complain. Well not complain but ask for it to be changed. Since it was Thanksgiving weekend I wasn't expecting to hear back till this week sometime. Well to my surprise it was "Very" Quickly. JD was very helpful and professional. Fixed it then contacted me with the corrected version. Couldn't be happier. " Good Business is Good Business"
MrDarryk
MrDarryk
05:17 01 Dec 20
JP M.
JP M.
01:46 04 Nov 20
Amazing customer service and friendly and informative reps.
Obsesion H.
Obsesion H.
04:45 26 Oct 20
Surety solutions handled my request for a Guardianship Bond professionally, with great care and provided great value to my family. Of all of the insurance companies I contacted for my need, Surety Solutions was by far the most responsive, courteous and knowledgeable. I very much appreciate their fine service!!
Irena S.
Irena S.
03:00 25 Sep 20
The entire staff from Jake to Katrina were more than professional and bent over backwards to meet mine and The State of California's requirements
Kirk G.
Kirk G.
19:10 23 Jun 20
This process could not have been easier! Mr. Chipman sent me an email link and I just followed the steps. I highly recommend Mr. Beau Chipman to anyone who needs this service.
Sharon H.
Sharon H.
23:29 28 Apr 20
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How much do you enter for the bond amount

Getting quotes for your ERISA Fidelity Bond is quick and easy using our online application below. You’ll receive instant quotes after entering the bond amount you require.

Not sure what to select for your bond amount? We recommend contacting the U.S. Department of Labor to verify the amount of coverage they require of you. The amount you select needs to equal 10% of the total plan funds you handled last year or $1,000, whichever is more.

However, you will not pay the full bond amount. Depending on your bond amount requirement, your bond could cost as little as $165 for a 3-year term.

What does an ERISA Fidelity Bond cover?

Unlike traditional insurance, a Surety Bond is a mix of insurance and a line-of-credit. However, the ERISA Bond does not provide coverage for you, as the plan administrator. The bond serves the purpose of protecting the employees of the plan from financial loss.

The 3 parties associated with the bond are:

  • The Obligee – The employees associated with the benefits plan. They have the ability to make a claim against the Surety Bond if they suffer a loss due to fraud or mishandling of the funds by the principal.

  • The Principal – You, as the plan administrator, are the principal of this bond. If the surety pays out to the claimants due to a valid claim, the responsibility of repaying the surety back in full rests on you, the principal.

  • The Surety – The neutral third party you choose to issue your bond. An investigation takes place when a claim is made against the ERISA Fidelity Bond. If a claim is found to be valid, the surety will pay out up to the full bond amount.
An ERISA Bond protects 401K funds from theft and dishonesty by the plan administrator.

 If you are interested in coverage for yourself, purchasing Fiduciary Liability Insurance is an option. This type of insurance covers you, as the plan administrator in situations where you fail to maintain your fiduciary responsibilities. But, unlike the ERISA Bond, you do not need Fiduciary Liability Insurance to meet the U.S. Department of Labor’s requirements.

What are "non-qualified" assets?

A question on our ERISA Bond application below is “Does the plan include any non-qualified assets?” 

Money able to be used for any purpose and funded with post-tax dollars is considered non-qualified assets. Non-qualified investments typically don’t restrict your ability to contribute to them in a given year and don’t require you to withdraw money out of your account when you reach a specific age. Not all non-qualified investments grow on a tax-deferred basis.

Money specifically earmarked to provide income during your retirement years and is funded with pre-tax dollars is considered qualified assets. Qualified investments, such as your employer’s 401k, generally allow you to contribute to your account up to a dollar amount specified by the Internal Revenue Service (IRS) each year. Also, they penalize you for taking withdrawals before you reach the age of 59 and a half and require you to start taking withdrawals prior to turning 70 and a half years of age. 

The majority of qualified assets include provisions allowing both you and your employer to contribute to your retirement account. Contributions from both sources grow tax-deferred.

After you purchase your bond

When you receive your quotes, you’ll have the option to purchase your ERISA Fidelity Bond online. After purchasing your bond, you can instantly download your bond packet. You don’t have to submit your bond to the obligee, the U.S. Department of Labor. However, you will need to keep the bond in your records in case they perform an audit. Please make sure to also send a copy of your bond to your Benetrends representative.

Surety Solutions, A Gallagher Company is a Benetrends Financial partner.

Securing your bond through Surety Solutions, A Gallagher Company is quick and easy. Simply enter the bond amount you need below to view instant quotes from leading surety companies.

No credit check is necessary if your ERISA Bond amount is $500,000 or under, meaning you can purchase your bond immediately after completing your application. You also receive “Inflation Guard” with your three-year term ERISA Bond under $500,000 through most of our surety providers. This means your bond premium will not increase if your plan funds increase mid-term and you’ll remain compliant with the U.S. Department of Labor Surety Bond requirement.

We are licensed to issue bonds in all 50 states. You can purchase your bond with confidence, as we’re a division of Arthur J. Gallagher & Co., one of the largest insurance brokers in the world.

ERISA Fidelity Bond FAQ

Most plan names consist of the company name and type of plan. For example, “Your Company, LLC Retirement Plan” or “Your Company Inc. Profit Sharing Plan”. Please verify with your Benetrends representative if you are unsure of your plan’s name.

These are great questions. However, we are unable to advise you on whether or not you need the bond or the bond amount. The U.S. Department of Labor requires this policy and is able to verify what you must have to remain in compliance. Their contact information can be found here. Your Benetrends representative might be able to assist you with verifying this information.

Our surety partners offer this policy starting with a bond amount of $25,000. However, our prices are competitive. Starting at under 1% of the bond amount for a 3 year term. Our bonds also include “Inflation Guard” to ensure you remain in compliance if your plan funds increase mid-term, at no additional cost in premium.

Our ERISA Fidelity Bonds are active for 3 years from the effective date you select. If you’re satisfied with the quote you receive, you may pay for your ERISA Fidelity Bond and be covered for the entire 3 years.

All of our ERISA Fidelity Bonds under $500,000 include “Inflation Guard”. So, you will not need to pay additional premium if your plan funds increase mid-term.

We will contact you within 90 days of the expiration of your policy to offer you a new quote. At this time we will evaluate if your bond amount needs to be increased or decreased and adjust your new premium accordingly.

If your company’s name appears in your plan name, you can select “No” to this question.

You can select “No” if your plan isn’t audited annually by a CPA. If you are unsure, please contact your Benetrends representative.

Benetrends should be your independent administrator. Please confirm with your Benetrends representative if you have any questions.

Typically, the rollover amount is included in your qualified plan assets. Please contact your Benetrends representative if you are unsure of the value of your qualified plan assets.

In this situation, you would select “Yes” for needing 2 signatures on our application. Please contact your Benetrends representative if you are unsure if signatures are required to withdraw from your plan.

Typically, Benetrends handles this responsibility. Please confirm with your Benetrends representative if you have any questions.

You can enter your name if you will be the one to deposit the funds into the plan. Please confirm with your Benetrends representative if you are unsure who is responsible for depositing the funds into the plan.

“Employer securities” refer to shares of stock, bonds or debentures issued by a corporation with interest coupons or in registered form. Please confirm with your Benetrends representative if you are unsure if your plan includes employer securities.

We are only able to offer the one-year term bonds to clients that are either planning on closing down their retirement plans or if they don’t have the cash flow to pay for the three-year term. If either of these apply to you, please let us know.

The industry standard on this bond type is a three-year term. This is because the three-year policies include “Inflation Guard” which means if your plan funds increase mid-term, you’ll remain in compliance with the U.S. Department of Labor without having to pay additional premium. Thus, you do not have to worry about paying for any additional premium caused by mandatory increases each year. The one-year term bonds do not include inflation guard.

If there were plan assets last year, then there would be a need for a bond this year. The ERISA is assessed on a year average and lags to the next year. Usually, it is a 3 year period, but ERISA can be on a yearly basis as well. So, if you had assets in your plan last year, then yes, a bond is required. 

If you have any questions, get in touch with our bond experts by sending an email to customercare@suretysolutions.com or call 833.922.3059.

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