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New Cybersecurity Guidance Applicable To Employee Benefit Plan Contracting - Employment and HR

To print this article, all you need is to be registered or login on Mondaq.com. Many issues keep employee benefit plan administrators, committees, and sponsors (plan fiduciaries) awake at night, but cybersecurity is especially troubling for many reasons. Employee benefit plans face significant cybersecurity threats and, given the incredibly significant amount of assets involved, the consequences of even one single attack can be devastating. Further, plan fiduciaries can have the best cybersecurity procedures in place for their own internal systems, and yet the plan or a plan participant can still experience a cyber-breach because of the numerous interfaces the plan has with third parties, such as record-keepers,

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