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By way of background, cybersecurity has over the last decade
become an area of critical importance to sponsors and
administrators of employee benefit plans as well as plan
participants. Put simply, this is because plans (which the
DOL estimates hold $9.3 trillion in assets) are a prime target of
cyberthieves, given that they typically hold significant amounts of
sensitive participant data, often permit electronic access to funds
(think 401(k) distributions) and rely on outside service providers,
who provide additional access points for breach. This risk