Technology

In light of the DOL’s increased focus on cybersecurity and participant data, plan sponsors should review their service agreements to ensure they do not give implicit approval to use participant data to cross-sell, a new blog post suggests. As part of what seems to be a new cybersecurity initiative... READ MORE

A recent SPARK Institute webinar discussed the importance of being aware of the risks cyber criminals pose as well as how their nefarious work can be thwarted.  There have been many breaches in the last decade, observed Mark Strosahl, Business Information Security Officer at the Principal. But... READ MORE

My wife Conni and I have lurked in the netherworld of retirement plan administration for decades now, working on those things nobody ever sees. One of the ways we explain what we do to friends and family is with a story about their own 401(k) and 403(b) plans. What we tell them is that when they go... READ MORE

In response to an increased threat of retirement account fraud, nearly a third of recordkeepers expect to boost their cybersecurity staff going forward, a new report from Cerulli finds.  Even though plan providers have always been subject to cyberattacks, this is an issue that has become more... READ MORE

With Congress set to consider legislation implementing automatic retirement arrangements, a new report by Smart maintains that the legislation will enhance retirement security and be simple for small employers to comply with.  Smart is a global fintech firm that offers recordkeeping platforms for... READ MORE

One of the many consequences of the global pandemic is that there is a spotlight shining on the importance of virtual security. And that includes sharing personal protected information (PPI), argues a CPA firm.  In the pre-COVID world, says Cassell Plan Audits in its blog, many companies had... READ MORE

What a difference a year makes. Business practices had to change on a dime as the tidal wave of COVID-19 swept the familiar out of its way—and with little or perhaps even no notice or time to beta test.  Business as usual in the financial services industry “came to a screeching halt” as business... READ MORE

A couple of Saturdays back I discovered that one of my online accounts had been “hacked.”  The good news is that I “discovered” this via transaction emails confirming what appeared to be purchases—a half dozen of them… for various, small-ish (though not small) amounts… all about 4:00 a.m. on a... READ MORE

Speaking July 27 at the 2021 NAPA D.C. Fly-In Forum, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration outlined the key areas the department is working on, including both cryptocurrency and cybersecurity issues.   While noting that he didn’t have much to share... READ MORE