Cyberattacks targeting retirement plans are surging. Data theft, fraud schemes and system disruptions threaten participant savings and employer reputations. As plan fiduciaries, employers must build strong defenses — we offer guidance on where to begin.
Cybercriminals are targeting retirement plans with unprecedented sophistication and frequency, drawn to the troves of personal and financial information they hold. Retirement plan service providers build and maintain digital defenses, but as plan fiduciaries, employers remain ultimately accountable under ERISA for keeping the plan’s data safe.
The Department of Labor has issued guidance to help address the problem, including a 12-point cybersecurity framework for retirement plans. But implementation can be daunting. Learn practical steps you can take to evaluate vendor security practices, structure contracts, and build oversight protocols. Gain insights into educating your entire participant base—active employees and retirees alike—about evolving fraud tactics.
Any successful attack can trigger lawsuits, regulatory scrutiny, and reputational damage. Proactive cybersecurity planning isn't just about compliance—it's about preserving the trust employees place in you.
Don't wait for the next major breach. Transform your retirement plan into a well-guarded fortress today.
