It's Bond. Fidelity Bond ... Revisited

Jerry Kalish
July 27, 2009 — 1,868 views  
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Whether your preference is Sean Connery, George Lazenby, Roger Moore, Timothy Dalton, Pierce Brosnan, or now Daniel Craig, the James Bond character has been used in the longest running and most financially successful English language film franchise to date.

The Bond movies started in 1962 with Dr. No. For us ERISA people, our Bond originated in 1974 with the passage of ERISA which required that retirement plans be covered by a fidelity bond.

Here's our 2009 version as the July 31 Form 5500 filing deadline for calendar year retirement plans rapidly approaches (unless extended).

And, if history is our guide, then there will be retirement plans for which the bonding amount is insufficient, or in some case have have no coverage at all.

So here's a link to our publication, The ERISA Bonding Requuirement: What Plan Sponsors Need to Know to Be in Compliance Updated for the Pension Protection Act of 2006. Long title, but I hope the short Q&A format helps.

Jerry Kalish


Jerry Kalish is President of National Benefit Services, Inc., is a Chicago-based employee benefit consulting and administrative firm that serves private-held companies, publicly traded companies, and public sector employers. Jerry has over 30 years of experience with a wide variety of employee benefit plans including retirement programs, welfare benefit plans, executive benefits, and employee ownership programs. He provides continuing education programs for CPAs and financial services and human resource professionals. Jerry has authored and edited two books on employee benefits and he is currently at work on his third book, the subject of which is retirement plans for the 21st Century.He writes a regular monthly column for Employee Benefit News and a weekly column for Slate's BizBox blog for small businesses. He can also be followed on Twitter.