Cybersecurity & Your Provider

In May of this year, some of us in the South and Mid-Atlantic experienced what can happen when networks aren't secure. The Colonial Pipeline hack created disruptions throughout much of our country. When we apply these lessons to our retirement plan vendors, it is imperative to evaluate their readiness for such an attack. You can assume that your vendors will be breached and it is important to understand the steps they have in place. To that end, EBSA (Employee Benefits Security Administration) have developed cybersecurity best practices. You can use these best practices to evaluate your vendor and document your fiduciary process. EBSA BEST PRACTICES