Is Your Plan Data Secure? Dealing with Cybersecurity Concerns as a Plan Fiduciary

The ever-increasing amount and sophistication of internet crimes targeting employee benefit plan data and assets has led to increased concern among ERISA fiduciaries who anticipate the consequences raised by cybersecurity threats and their preparedness in the context of DOL plan audits and litigation by affected plan participants. ERISA fiduciaries have had to become more informed and proactive in the information technology space and seek both legal guidance and additional protections for their plans and participants. This practice note offers some guidance and suggested actions.

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