“Why Cybersecurity for Retirement Plans is More Important Than Ever”
by Alex Ortolani
Following Brian Edelman’s CNBC FA Summit “Securing Your Savings” appearance, PLANSPONSOR shared important cybersecurity recommendations to help firms ensure that plan participants remain safe from hackers targeting savings.
“We’re seeing a significant increase in the hackers getting access to these retirement assets,” Brian Edelman, CEO of cybersecurity protection firm FCI, said during CNBC’s Financial Advisor Summit on Tuesday. “We’re out there protecting them on the investment side, but we need to also manage the data—if a hacker gets at the retirement assets, then there is nothing left to manage.”
PLANSPONSOR further shared Edelman’s recommendation that retirement plans should be well versed in the guidance that the U.S. Department of Labor put out last year on cybersecurity for retirement benefits. The guidance provides both best practices for ERISA-covered retirement plans and how to select a service provider with strong cybersecurity practices.
Read the full PLANSPONSOR article: https://www.plansponsor.com/cybersecurity-retirement-plans-important-ever/
PLANSPONSOR with its reputation for editorial integrity, objectivity, and leadership, is the trusted information and solutions resource for America’s retirement benefits decision makers. With its powerful array of customer-driven marketing programs, PLANSPONSOR offers industry providers an unparalleled ability to reach this influential audience. With all of the changes within the retirement industry, plan sponsors and advisers rely on PLANSPONSOR magazine to help them stay informed of crucial issues and important new innovative solutions.
About CNBC Financial Advisor Summit
The CNBC Financial Advisor Summit brings together advisors from the country’s top firms to hear from financial industry heavyweights about the state of the markets and economy, and to discover new opportunities and ways they can address the increasingly complex needs of their clients.