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Safeguarding Your Business: The Vital Role of Cybersecurity Services in Los Angeles

Safeguarding Your Business: The Vital Role of Cybersecurity Services in Los Angeles
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OFAC Issues Updated Guidance On Ransomware Payments - Technology

U S Department Of Labor Weighs In On Cybersecurity For ERISA Plans - Employment and HR

To print this article, all you need is to be registered or login on Mondaq.com. 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

DOL Issues Cybersecurity Guidance for Retirement Plans | Smith, Gambrell & Russell, LLP

To embed, copy and paste the code into your website or blog: Earlier this month, the U.S. Department of Labor (the “DOL”) issued informal guidance outlining “best practices” for managing the cybersecurity risks facing employer-sponsored retirement plans.  Although the DOL has previously stated generally that plan fiduciaries must ensure systems are in place to protect participant data, this guidance marks the first time the DOL has directly addressed cybersecurity in this context. The most notable portion of the guidance for plan sponsors and fiduciaries are the DOL’s Tips for Hiring a Service Provider with Strong Cybersecurity Practices. This guidance outlines both: (i) the questions plan fiduciaries should ask potential plan service providers about their cybersecurity practices; and (ii) the contract provisions related to cybersecurity that plan fiduciaries should include in their service provider agreements.

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