Retirement Plan Sponsors shared in a survey the steps they have taken, or will take, to reduce plan leakage and retain retiree assets in the plan. Preventing asset leakage and Cybersecurity concerns have been priorities for plan sponsors, according to new research from Callan, and many plan sponsors expect to act further this year. The … Read more
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
Alight has been sued by retirement plan participants whose accounts were hacked, and the Department of Labor is investigating the provider’s practices. Judge John F. Kness of the U.S. District Court for the Northern District of Illinois has ruled that Alight Solutions must comply immediately with a Department of Labor (DOL) administrative subpoena seeking documents … Read more
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