Organizations Need To Recognize Potential Risks with AI and Develop Strategy with Effective Plans

These risks associated with implementing AI systems must be acknowledged by organizations that want to use the technology ethically and with minimal risk as possible. Organizations in varied market segments have always had to manage risks associated with new technologies and solutions to support and expand their businesses. Certainly, they must do the same when … Read more

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

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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