steve-o Posted June 21, 2007 Posted June 21, 2007 Is there a minimum amount of assets needed before there is a requirement to have a fidelity bond in place for a 401(k) plan? I know the bond should be for at least 10 percent of assets and needs to be no larger than $500,000, but is there a minimum?
pmacduff Posted June 21, 2007 Posted June 21, 2007 minimum bond used to be $1,000, I don't know if that's changed. Most of my clients get a bond for 3 years with a built-in escalator, so they don't have to renew each year. we recommend a bond right from the get-go with a new plan as soon as the Trust has $$.
WDIK Posted June 21, 2007 Posted June 21, 2007 Does anyone still sell a bond at the $1,000 level? ...but then again, What Do I Know?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now