Retirement plans store extensive personal data on each participant and beneficiary, ranging from Social Security numbers and addresses to dates of birth, bank account information, and other sensitive financial information. This collection of personal identifiable information presents an attractive and potentially exploitable opportunity for criminals, hackers, and other unauthorized third parties. A plan administrator’s failure to proactively assess risk and protect sensitive information has the potential not only to put plan assets at risk but also to result in breach of fiduciary duty claims in the event of a breach. Please join us on June 15 for a one-hour webinar to discuss these issues.
Topics will include:
- Data privacy and cybersecurity as a high priority
- Steps to fulfill your fiduciary duties
- Challenges related to service providers and service provider agreements
- The future landscape of data privacy and cybersecurity for retirement plans