[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2582.8478-2]

[Page 571-572]
 
                             TITLE 29--LABOR
 
CHAPTER XXV--PENSION AND WELFARE BENEFITS ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2582--RULES AND REGULATIONS FOR FIDUCIARY RESPONSIBILITY--Table of Contents
 
                   Subpart A--Temporary Bonding Rules
 
Sec. 2582.8478-2  Amount of the bond.

    (a) General. Under the authority of section 8478(b)(1) of the 
Federal Employees' Retirement System Act of 1986 (FERSA), the amount of 
a bond for each person, group or class to be bonded shall not be less 
than 10 percent of the amount of funds handled by such person, group or 
class with respect to any fiscal year of the Fund. In no case shall such 
bond be less than $1,000 nor more than $500,000. However, the Secretary 
of Labor reserves the authority under section 8478(b)(1) of FERSA to 
prescribe an amount in excess of

[[Page 572]]

$500,000, after due notice and opportunity for hearing to all interested 
parties, and other consideration of the record.
    (b) Effectiveness. This section shall remain in effect until it is 
amended or withdrawn in accordance with section 8478(b)(1) of FERSA, but 
in no event shall this section remain in effect beyond December 31, 
1989.

[52 FR 35866, Sept. 23, 1987, as amended at 54 FR 53609, Dec. 29, 1989]