Tag: retirement plan cybersecurity
Among other things, the Cybersecurity Risk Management Program, in consultation with the plan sponsor and fiduciaries, includes the development of a prudent process for cybersecurity management including policies and procedures and a cybersecurity manual.
“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.
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.
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.
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.
The offering will reimburse eligible participants for unauthorized transfers from their 401(k) retirement accounts.
Among other things, it is recommended that plan sponsors minimize requests for and use of personally identifiable information and review recordkeepers' security procedures.