Insights on benefits counseling and litigation issues impacting employers nationwide
A little more than three years ago, the U.S. Department of Labor (DOL) posted cybersecurity guidance on its website for ERISA plan fiduciaries. That guidance extended only to ERISA-covered retirement plans, despite health and welfare plans facing similar risks to participant data.
Last Friday, the DOL’s Employee Benefits Security Administration (EBSA) issued Compliance Assistance Release…
In 2021, the Department of Labor (DOL) issued cybersecurity guidance for ERISA-covered retirement plans. The guidance expands the duties retirement plan fiduciaries have when selecting service providers. Specifically, the DOL makes clear that when selecting retirement plan service providers, plan fiduciaries must prudently assess the cybersecurity of those providers.
On May 15, 2024, the…
