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On Thursday April 14, 2021, the U.S. Department of Labor announced guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best practices for maintaining cybersecurity. This is the first time the Department has issued guidance on cybersecurity for employee benefit plans.
The guidance includes tips for plan sponsors and fiduciaries in selecting and hiring service providers, including:
Compare the service provider’s information security standards, practices and policies, and audit results to the industry standards.
Look for service providers that follow a recognized standard for information security and use a third-party auditor to review and validate its cybersecurity practices.
Sen Manchin pushes a pro-union labor law closer to reality latimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from latimes.com Daily Mail and Mail on Sunday newspapers.
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The Department of Labor recently issued FAQs addressing basic questions regarding the American Rescue Plan Act’s requirement that employers and health plans subsidize COBRA between April 1, 2021 and September 30, 2021 for assistance eligible individuals. In addition, the Department issued model notices which are required to be provided to certain former employees. The General Notice and Election Notice are to be used by employers who are subject to federal COBRA. The Alternative Notice is to be used for employers which are not subject to federal COBRA but which are subject to a state’s mini-COBRA provisions.
McNees Wallace & Nurick LLC name attorney Teresa Harrold of counsel - Central Penn Business Journal cpbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cpbj.com Daily Mail and Mail on Sunday newspapers.