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DOL Issues New Guidance On Cybersecurity For Retirement Benefit Plans - Employment and HR


The Department of Labor (DOL) has issued its first-ever guidance
1 on cybersecurity for ERISA-regulated retirement
benefit plans. This guidance comes shortly after the Government
Accountability Office (GAO) released a report
2 calling
on the DOL to clarify how plan administrators should address
cybersecurity risks for defined benefit plans. The DOL s
guidance, which suggests combating cybercrime should be a priority
for plan sponsors and fiduciaries, also provides tips to
participants and beneficiaries on how to guard against cyber
threats.
The guidance has three parts: one directed at plan sponsors, one
directed at record keepers and service providers, and one directed
at plan participants. ....

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DOL Issues New Guidance On Cybersecurity For Retirement Benefit Plans - Employment and HR