Guest Kconsultant Posted July 18, 2002 Posted July 18, 2002 What is the "Fidelity Bond to comply with ERISA Section 412"? Is it different from Fiduciary Liability Insurance? Thanks.
Guest LVanSteeter Posted July 18, 2002 Posted July 18, 2002 Fiduciary liability insurance covers the fiduciary if they make a bad decision. A Fidelity Bond covers against fraud, forgery, embezzelment, etc. by employees (Payroll clerk goes on vacation with funds instead of fowarding them to the plan).
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