Michigan ERISA Bond (3 Years)
Overview
Running a qualified retirement plan means federal law requires you to carry a bond — not optional, not negotiable. Your Michigan ERISA Bond satisfies that requirement under the Employee Retirement Income Security Act, protecting plan participants against losses caused by fraud or dishonesty by anyone who handles plan funds. This three-year term includes an Inflation Guard provision, so your coverage keeps pace as plan assets grow. Get bonded, stay compliant, and protect the people counting on that plan.
Who Needs This Bond?
Plan administrators, trustees, and any person who has the authority to sign checks, transfer funds, or otherwise handle assets in a Michigan-based 401(k), pension, profit-sharing, or other ERISA-covered employee benefit plan all need this bond. That includes small-business owners who serve as their own plan fiduciary, HR directors with signatory authority over plan accounts, and third-party administrators who touch plan funds. If you handle the money, federal law says you must be bonded.
What is this Bond For?
ERISA mandates this bond to shield plan participants — your employees — from financial loss caused by fraudulent or dishonest acts committed by anyone handling plan assets. The bond does not cover investment losses or market risk; it covers deliberate wrongdoing: theft, embezzlement, forgery, and similar acts. If a covered person misappropriates plan funds, the bond provides a recovery mechanism for the plan itself. That protection is what keeps your plan in compliance with federal fiduciary standards.
When is it Required?
Before your plan passes its first annual audit or files its first Form 5500, the Department of Labor expects this bond to already be in place. Auditors and plan reviewers will ask for proof of fidelity bonding as a routine compliance check — not as a penalty trigger, but as a baseline requirement. The three-year term with Inflation Guard means you set it, file it, and don't scramble for renewal every twelve months. Bond up before the paperwork deadline, not after.
Where Does it Apply?
This bond covers ERISA-governed employee benefit plans administered in Michigan. The requirement flows from federal law, so it applies statewide regardless of which Michigan county or city your business operates in. Any plan fiduciary or fund handler connected to your Michigan plan must be covered under a bond that meets ERISA's specifications.
How to Buy Online
Click 'Buy This Bond Online' to open the secure surety portal in a new tab, where you'll complete your application and purchase your Michigan ERISA Bond in minutes. The three-year term and Inflation Guard are built into this product, so there's nothing extra to configure. Once issued, you'll receive your bond documentation electronically, ready to file or present on demand.
Why Bond Titan?
Bond Titan lets you buy your Michigan ERISA Bond right now — no agent callback, no waiting on a fax. Our platform is powered by The Southern Agency, with deep experience across fidelity and financial services bonds. One nationwide catalog, fast digital issuance, and the backing of a seasoned agency mean you can check this compliance box today and move on.