Fidelity Bond

Fidelity bond insurance protects benefit funds and trusts against the theft of funds by employees or anyone charged with the responsibility of handling assets.

Through NYSUT’s affiliation, the AFT provides this insurance at no charge for coverage that satisfies the U.S. Department of Labor required limit. Additional coverage cannot be purchased through the AFT.

This coverage is automatic each year. However, the AFT will occasionally request updated revenue and asset amounts from the funds to determine if they are holding the proper coverage for each fund according to Labor Management Reporting and Disclosure Act (LMRDA) regulations.

The AFT no longer automatically sends the certificate of insurance form. To obtain this form or change the coverage amount based on a fund's revenues and assets, please visit https://leadernet.aft.org/webform/fidelity-bond-insurance-form.

Funds/trusts must submit a separate application and be named separately from the local. An application and worksheet are necessary to determine the amount of no-cost coverage that your fund/trust will receive.

The AFT provides minimum coverage in the amount of $50,000 and caps coverage at $500,000, in accordance with LMRDA regulations. The policy year runs from March 1 through February 28.

For more information, contact the NYSUT Accounting Department at 800-342-9810, weekdays from 9 a.m. to 5 p.m. (EST).