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On April 14th, 2021, the Department of Labor ( DOL )
issued cybersecurity guidance to plan sponsor and fiduciaries,
recordkeepers and other service providers and participants and
beneficiaries of plans regulated by the Employee Retirement Income
Security Act of 1974, as amended ( ERISA ). The guidance
is presented in three separate parts: Tips for Hiring a Service Provider with Strong
Cybersecurity Practices, Cybersecurity Program Best
Practices and Online Security Tips for Participants and
Beneficiaries.
Over the past ten years, cybersecurity has become an area of
critical importance to plan sponsors, plan administrators and plan