[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2582.8478-4]

[Page 611]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2582_RULES AND REGULATIONS FOR FIDUCIARY RESPONSIBILITY--Table 
of Contents
 
                    Subpart B_Permanent Bonding Rules
 
Sec. 2582.8478-4  Permanent 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 $500,000, after due notice and 
opportunity for hearing to all interested parties, and other 
consideration of the record.
    (b) Effective date. This section shall become effective January 1, 
1990, and remain in effect until it is amended or withdrawn in 
accordance with section 8478(b)(1) of FERSA.

[54 FR 53609, Dec. 29, 1989]