Retirement Plan Participant Lawsuit Against Transamerica for Data Breach

In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of participants in plans it serves. As the level of awareness of Cybersecurity protection of confidential data has increased, however, so has the size and complexity of the cybersecurity problem from the perspective of plan fiduciary. … Read more

Modevity Announces New Outsourced Cybersecurity Assessment Services for Retirement Plan Sponsors to Maintain Compliance with the DOL Cybersecurity Guidelines

Modevity, LLC, a leading Commercial Intelligence company established in 2004 specializing in Investigative Due Diligence Research and Vendor Risk Management (VRM) Services, announced today that the company has launched their new Cybersecurity Assessment Services for Retirement Plan Sponsors. The US Department of Labor Guidance regarding Plan Sponsors’ fiduciary responsibilities, states that Plan Sponsors should assess … Read more

DOL Guidance on Cybersecurity: Outline Overview for Plan Sponsors

As noted in the DOL Guidance on Cybersecurity, Plan Sponsors should continuously ask, are my ERISA plan’s assets and participant data protected from cyberattacks?” The Department of Labor’s (DOL) release of cybersecurity best practices for plans covered by the Employee Retirement Income Security Act (ERISA) makes it clear that plan sponsors, service providers, and participants … Read more

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