Does Fiduciary Liability Cover Pension Plans?
Potentially, when the pension plan is within the policy’s definition or schedule and a claim satisfies its terms. Defined-benefit, multiemployer, and other plans may receive different treatment.
A fiduciary policy may include pension-plan claims, but the plan definition matters. The Travelers FRI-3001 specimen defines a pension plan by reference to ERISA and similar laws, while its employee-benefit-plan definition limits the plans sponsored by the insured organization and includes eligibility conditions. These are terms from one dated sample form, not a market-wide promise. DOL also notes that ERISA does not cover some government and church plans.
List each pension plan by legal name and type when requesting a quote, including any multiemployer or acquired arrangement. Check whether the policy automatically includes new plans or requires notice or insurer consent, and whether the insured sponsor, trustees, committee members, and administrators are included. Compare claims-made dates, exclusions, defense-cost limits, retention, and treatment of benefit amounts or plan losses in the specific issued wording.
Related Coverage
Providers That List This Coverage
Sources
- FAQs about Retirement Plans and ERISA. U.S. Department of Labor, Employee Benefits Security Administration; What are the responsibilities of plan fiduciaries?; Is it possible to sue under ERISA? Accessed 2026-09-25.
- Fiduciary Liability. Travelers Casualty and Surety Company of America; II.D,J–L pp.2–3; II.A p.1; II.V p.5; Header p.1; II.M p.3; III.A.6–8 pp.5–6; II.M.2 p.3; III.B.1 p.6. Accessed 2026-09-25.
- Fiduciary Liability Coverage Application. Travelers Casualty and Surety Company of America; Requested Insurance Terms p.2; General and Plan Information pp.1–2; Loss Information p.2. Accessed 2026-09-25.
