Department of Labor’s Cybersecurity Guidance for Benefit Plans Signals Increased Scrutiny
By EsqSocial Corporation 11/05/21
On April 14, 2021, the Department of Labor (DOL) issued its first set of guidance documents related to the cybersecurity of retirement benefit plans covered by the Employee Retirement Income Security Act (ERISA). The three-part guidance is aimed at various stakeholders—plan fiduciaries, service providers, plan participants and beneficiaries—and provides cybersecurity expectations for plan fiduciaries and best practices for their service providers. Cybersecurity has become an area of critical...
By: Akin Gump Strauss Hauer & Feld LLP