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HR Glossaries

F - J Fiduciary Bonds

Admin 2012.04.01 09:25 Views : 1016

  • Fidelity bonds are required by law (ERISA bonding).
  • This is a form of insurance for dishonesty situations. When dishonest administrators or trustees have financially harmed an employee benefit plan, these bonds may be used, but only for the benefit of the plan and the plan's beneficiaries. This bonding insurance will not protect the trustees themselves from liability claims and is completely distinct from fiduciary liability insurance.
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