Founder narrative
The month the bonding rule reached the person who never touched the money, at 80K MRR
A composite founder diary. I had never touched the 401(k) money, which my administrator offered as comfort. ERISA section 412 requires a fidelity bond of at least 10 percent of funds handled, re-fixed at the beginning of every plan year, and its unlawful acts limb also catches whoever permits an unbonded person to handle funds. My bond had not been re-fixed in two years.
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