US Dept. of Labor Announces Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants
The U.S. Department of Labor (“DOL”) recently issued guidance on best practices for maintaining cybersecurity directed to plan sponsors, fiduciaries, record-keepers and participants of employee benefit plans governed by the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). While some prior cybersecurity guidance has been issued for certain employee benefit plans governed by ERISA , this is the first guidance issued by the Employee Benefits Security Administration (EBSA) of the DOL related to cybersecurity.
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