Employee Retirement Income Security Act Of Erisa Bond

Definition of "Employee retirement income security act of 1974 (erisa) bond"

Federal law requiring that all pension plan trustees and anyone else who handles pension funds must obtain a fidelity bond. This bond covers the plan in the event of embezzlement and theft. It is important to note that this bond does not provide coverage in the event poor investment choices result in losses. The insurance company as well as the amount of the bond must be stated in form 5500 filed annually with the Internal Revenue Service. The amount of the bond must be at least 10% of the pension plan's assets or $1000, whichever is the greatest amount.

Search Real Estate Glossary

Related Real Estate Glossary terms

Allied Lines

Property insurance closely associated with fire insurance and usually purchased in conjunction with ...

Policy

A real estate owner's policy and rules regarding the use of the property by the tenant. In insu ...

Balloon Loan

Loan having the last payment either (1) more than twice the amount of any other payment, or (2) a pa ...

Builder Breakdown Method

See quantity survey method. ...

Expected Expense Ratio

Relationship between expected incurred insurance-related costs (not including claims) and expected w ...

Terminal Funding

Former method of funding a pension plan. When employees retire, the employer sets aside a lump sum t ...

Related Real Estate FAQ

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

What Do I Need To Know About Homeowners Insurance?

It is where you live and where your possessions are. Chances are, it\'s your asset. But more than po ...

What Is A Mortgage?

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

What Is A Treasury Index?

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mor ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

How To Get A Loan with Bad Credit Tax Breaks for the First Time Home Buyer What Must I Disclose When Selling My Home? How Does The Home Loan Underwriting Process Work? Getting Ready to Sell? Don't make these DIY Mistakes!

FAQ

What if the computer I want to insure is homemade or custom-built? What does preapproved mean? What is a front-end ratio? What is an agent? What is equity?