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

January 16, 2024 (3 min read)

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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  • Cybersecurity for Retirement Plans Resource Kit
    Learn more about the cybersecurity issues facing retirement plan sponsors and fiduciaries in addressing cybersecurity issues. Retirement plans can be susceptible to cybersecurity and data security attacks because plans have significant assets and, with their recordkeepers, plans maintain important information regarding participants and beneficiaries (for example, social security numbers, bank account information, and dates of birth).

Practical Guidance Updates 
Featuring the latest updates from your Practical Guidance account.    

  • Employee Benefits & Executive Compensation Key Legal Developments Tracker
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