Regulatory Outlook | 04.21.21
DOL Issues Cybersecurity Best-Practice Guidance
The DOL on Wednesday released a set guidance detailing best practices for maintaining cybersecurity for plan sponsors, plan fiduciaries, record keepers, and plan participants. The guidance has three distinct pieces, the first of which includes tips for plan sponsors and fiduciaries on how to select a service provider with strong cybersecurity practices and how to monitor their activities. The second piece of guidance is a list of 12 cybersecurity program best practices for plan sponsors and record keepers, while the final piece is a set of online security tips for participants and beneficiaries when accessing a retirement account.
Read the full article on Pensions & Investments.