It is more important than ever to prioritize the cybersecurity of your company’s 401(k) plan. The Department of Labor (DOL) has recognized this urgency and has issued recommendations to help employers safeguard their plans.
For plan fiduciaries, there are many ways you can apply these best practices to effectively manage your company’s retirement plan. Read the checklist below and for more detailed information, refer to the full ‘Cybersecurity Program Best Practices – EBSA’ document here.
By implementing these guidelines and incorporating cybersecurity best practices, you can significantly mitigate the risk of cyber threats such as data breaches, fraud, and theft.
Larry Kavanaugh, Jr. AIF®, CPFA, CLU, ChFC
950-A Union Rd. Suite 31
West Seneca, NY 14224
716.674.7200
L.Kavanaugh@nebstpa.com
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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