The Employee Retirement Income Security Act known as “ERISA” regulates 401k and most other types of employee benefit plans. Under ERISA, anyone who handles plan funds must be covered by a fidelity bond. The bond protects the PLAN from losses that may result from fraudulent or dishonest acts.
Know more at https://www.pentegra.com/expertise/advisor-connect/four-things-to-know-about-erisa-fidelity-bonds-and-fiduciary-liability-insurance/
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