Latest Breaking News On - Guidance could help mitigate cybersecurity risks - Page 1 : comparemela.com

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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