Company Executives and Fiduciary Liability
3/02/2010
Under the Employee Retirement Income Security Act of 1974 (ERISA) and Department of Labor (DOL) regulations and guidelines, individuals identified as their employer’s fiduciaries are legally required and held accountable to act in the best interests of the plan’s participants. A fidelity bond insures against the improper management and resulting losses with respect to plan assets, however, a common misconception is that the fidelity bond provides protection to plan fiduciaries for a breach of responsibilities. It does not.
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