Report to the Department of Labor on ERISA Bonding

This document is about an evaluation by the Advisory Council on Employee Welfare and Pension Benefit Plans on the effectiveness of the Department of Labor's regulations and sub-regulatory guidance under Section 412 of ERISA, which requires employee benefit plans to purchase a fidelity bond to protect against losses due to acts of fraud or dishonesty. The Council developed recommendations for updating the regulatory and sub-regulatory guidance to improve compliance with the fidelity bond requirements and enhance the safeguarding of plan funds and property.