Employee Benefit Plan Provisions The Employee Retirement Income Security Act (ERISA) requires that those handling funds of an employee welfare or benefit plan subject to its provisions be bonded. The required amount of insurance is 10 percent of the funds handled, subject to a $1000 minimum and a$500,000 maximum. These ERISA requirements can be satisfied simply by including the employee benefit plans as named insureds under the crime policy. When an employee benefit plan is so named, the 60-day extended reporting period of the discovery forms is extended to one year (as required by ERISA) with respect to employee benefit plans insured under the employee theft insuring agreement.
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