Driving Cybersecurity with Participants and Providers
Plan sponsors should evaluate providers’ cybersecurity practices, but there are also steps they and plan participants can take to safeguard retirement accounts.
Tag: retirement plan cybersecurity
SPARK Creates Definitions for Cybersecurity Terms
“These definitions provide a level platform for vendor evaluation as it relates to cyber security breach and fraud,” says Rasch Cousineau, a senior consultant with the Hyas Group.
Retirement Plan Cybersecurity Disclosure to Make Everyone Satisfied
Retirement plan sponsors want to know their service providers are taking steps to protect participant data, but providers are concerned about releasing confidential information.
Safeguarding DC Plan Data Is About More Than Cybersecurity
Andy Adams and Jay Schmitt, with Strategic Benefits Advisors, discuss what makes retirement plan data vulnerable and actionable steps to protect it from fraud.
Lawmakers Ask GAO to Examine Cybersecurity of Retirement System
A letter to Gene Dodaro, Comptroller General of the U.S. Government Accountability Office (GAO), identifies 10 questions federal lawmakers would like the GAO to answer, following its examination.
Expansion of Technology Will Increase Cyber Security Threats
Among other risk areas shared in a new report by Aon are expansion of data into mobile devices and sharing of data with third-party vendors and service providers.
DOL Asked for Guidance on Retirement Plan Cybersecurity
The ERISA Advisory Council is asking the DOL to provide guidance on how plan sponsors should evaluate the cybersecurity risks they face and to require them to be familiar with the various security frameworks used to protect data as well as to build a cybersecurity process.
John Hancock Offers 401(k) Plan Cybersecurity Guarantee
The offering will reimburse eligible participants for unauthorized transfers from their 401(k) retirement accounts.
Segal Group Recommends Steps for DC Plan Cybersecurity
Among other things, it is recommended that plan sponsors minimize requests for and use of personally identifiable information and review recordkeepers' security procedures.
What Plan Sponsors Need to Know About DC Plan Cybersecurity
Retirement plan sponsors that take cybersecurity seriously are less likely to see their participants’ assets and personal information affected by a successful cyberattack.