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December 23rd, 2022 Information & Insights for the 403(b) Community Plan Sponsors Have Myriad Responsibilities to Protect Against Cyberthreats Plan sponsors should begin with the Department of Labor’s guidance on cybersecurity, proceed to fill an arsenal of safeguards to protect and secure retirement plan data, assets and participants. Rising Markets Boost U.S. Public Pension Funding The aggregate funded levels of the 100 largest public pension funds grew to 74.7% during November, up from 71.6% in October. Ask the Experts Email amy.resnick@issgovernance.com with subject line “Ask the Experts.” Molina, flexPATH ERISA Suit Continues, But Adviser NFP Dropped A federal judge is allowing a plaintiff’s lawsuit against plan sponsor Molina Healthcare and TDF provider flexPATH to continue, but has absolved adviser NFP from a fiduciary duties breach. CBO Forecasts 23% Social Security Shortfall by 2034 A bipartisan federal agency warns that workers may see a 23% reduction in promised Social Security benefits by 2034 if no tax increases, benefit cuts or some combination are made before then. EDITOR'S NOTE In observance of Christmas Day, ISS offices are closed Monday, December 26 and there will be no PLANSPONSOR (b)lines newsletter on Tuesday, December 27. A special holiday edition of PLANSPONSOR (b)lines will resume Friday, December 30.    Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850