Recently, the Missouri teacher’s pension fund was attacked—exemplifying just how vulnerable retirement funds are to cyberattacks. Cybersecurity experts provide practical advice to help plan sponsors protect the retirement savings of their employees and beneficiaries. Always… Read Moreabout Lessons From A Recent Hack
As a plan sponsor, you know you need to ask your service providers about how they are preventing security breaches. Doing so is critical to the protection of the retirement assets of your plan… Read Moreabout SOC Report? Ask For It!
Allegations of ERISA law violations continue creating disruption and expense for retirement plan fiduciaries, including plan sponsors, across the country. Here’s a sampling of the kinds of claims that are winning cases for retirement… Read Moreabout Tis The Season: Allegations Are Costly
Heading into 2021, plan sponsors were encouraged to improve retirement outcomes for workers by making retirement account portability easier. With increased disruption and shift in the workforce, facilitating retirement portability can make a huge difference…. Read Moreabout There’s Still Time: 2021’s Resolutions?
Identity Protection: Using Video To protect retirement accounts from fraudulent withdrawals, at least one service provider, BPAS, is implementing the use of live video to validate participant identity on some transactions. How might stepped up… Read Moreabout Identity Protection: Using Video
Head’s up for plan sponsors: Enhanced audit requirements go into effect on December 15. Aimed at reducing the deficiencies of limited-scope audits, the new audit standard requires a written report from plan sponsors, attesting… Read Moreabout Audit Changes: Written Reports
Alleging a variety of ERISA violations, the former participants of a KPMG 401(k) plan are suing the company—and the plan fiduciaries. The complaint has been filed in U.S. District Court in Newark, New Jersey,… Read Moreabout ERISA Violations?
Making guaranteed lifetime income options more readily available through 401(k) plans is a list topper for plan providers—and employers— these days. Here’s why—and an example of how Blackrock is proceeding. Guaranteed Lifetime Income?… Read Moreabout Decisions, Decisions: Annuities?
The Federal Bureau of Investigation reports a 69% spike in cybercrime complaints from 2019-2020. Financial losses totaled over $4 billion. As the techniques deployed by cybercriminals are becoming more sophisticated, retirement plan recordkeepers are… Read Moreabout Cybercriminals: Sophisticated Techniques