Hopes new measures will protect access to retirement benefits.
In 2018, the Employee Benefits Security Administration estimated that the assets of retirement plan holders total around $9.3 trillion. On Friday, the U.S. Department of Labor announced new guidelines for maintaining appropriate cybersecurity while sponsoring, recording, and accessing retirement benefits.
“The cybersecurity guidance we issued today is an important step towards helping plan sponsors, fiduciaries, and participants to safeguard retirement benefits and personal information,” said Acting Assistant Secretary for Employee Benefits Security Ali Khawar. The guidances also pair with the EBSA’s electronic recording regulations.
As the Lord Leads, Pray with Us…
- That Acting Assistant Secretary Khawar would effectively implement these protective cybersecurity measures.
- For wisdom Secretary Walsh as he leads the Labor Department.
- That the president’s administration would seek God’s wisdom as new security measures are developed.
Sources: Department of Labor
