The pace of conversations about the cybersecurity risk that employee benefit plans face has accelerated since the U.S. Department of Labor introduced its regulatory-like guidance for plan fiduciaries in 2021. In recent months, we’ve seen many attacks on vendors that prove the reality of data security threats, especially from vendors that serve 401(k), 403(b) retirement plans, and health plans.
In this episode, we’re going to discuss examples of cybersecurity breaches of employee benefits plans that happened when hackers broke through their vendors’ systems and stole the participants’ personally identifiable information. Our host will also outline steps you can take to ensure that your plan’s fiduciaries do everything possible to select vendors with robust security policies and procedures.
About our host
Ronald E. Hagan is chairman of Roland|Criss’ Risk Standards Committee. Ron has over 25 years of experience helping clients examine and improve their risk management practices for employee benefit plans qualified under the Employee Retirement Income Security Act of 1974. He is the engaging host of Roland|Criss’ weekly podcast and quarterly webinar series.
