All benefit funds are strongly encouraged to consider purchasing fidelity bond insurance coverage at their own cost. Fidelity bond insurance protects benefit funds against the theft of funds by employees or anyone charged with the responsibility of handling assets.
Whether your benefit fund is renewing this coverage or purchasing it for the first time, an annual fee of $150 will be charged for the basic level of $100,000 of coverage under the AFT Fidelity Bond policy. Higher limits of coverage can be purchased.
For more information, contact the NYSUT Accounting Department at 800-342-9810 weekdays from 9 a.m. to 5 p.m. (EST).