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Is Your Plan Cyber-Secure? Fiduciaries and Vendors Face Ongoing Challenges

Is Your Plan Cyber-Secure? Fiduciaries and Vendors Face Ongoing Challenges

Plan fiduciaries need to secure in-house data and investigate their outside vendors’ procedures.

Fiduciary Advice, Qualified Retirement PlanCarol BuckmannMarch 11, 2024ERISA, cybersecurity, fiduciaryduty

Protecting 401(k) Participants from Cybertheft Should be a Priority-What Sponsors and the Government Can Do

Protecting 401(k) Participants from Cybertheft Should be a Priority-What Sponsors and the Government Can Do

No federal law guarantees restoration of a participant’s account if it is stolen by a cyberthief. ERISA and state law might provide remedies if a participant can establish breach of fiduciary duty or negligence, but plan sponsors and the government can do more to deal with this problem.

Fiduciary Advice, Qualified Retirement PlanCarol BuckmannJuly 16, 2023cybersecurity, erisa

In the News-Carol Buckmann Quoted on Need for Cybersecurity Liability Standards

In the News-Carol Buckmann Quoted on Need for Cybersecurity Liability Standards

Carol tells Bloomberg Law why we need more guidance on liability when participant benefits are stolen by internet thieves.

Fiduciary Advice, Qualified Retirement PlanSandra CohenAugust 19, 2022cybersecurity, 401k, pensions

Another Cybertheft Lawsuit Spotlights 401(k) Recordkeeper Procedures

Another Cybertheft Lawsuit Spotlights 401(k) Recordkeeper Procedures

Who is responsible when a thief steals a participant’s 401(k) account?

Fiduciary Advice, Qualified Retirement PlanCarol BuckmannJuly 17, 2022cybersecurity, 401k, fiduciaryduty, employeebenefits

New Cybersecurity Decision Highlights Potential Claims Against Plan Sponsors

New Cybersecurity Decision Highlights Potential Claims Against Plan Sponsors

Here is another risk for plan sponsors who ignore their cybersecurity responsibilities.

Fiduciary Advice, Qualified Retirement Plan Carol BuckmannJuly 14, 2020cybersecurity, fiduciary, ERISA

Carol Buckmann Quoted in PLANSPONSOR Article on the Rising Threat of Cyberattacks with Remote Working

Carol Buckmann Quoted in PLANSPONSOR Article on the Rising Threat of Cyberattacks with Remote Working

Carol Buckmann quoted in PLANSPONSOR article on cybersecurity.

CARES Act, COVID-19, Firm News, Fiduciary Advice, Qualified Retirement Plan Carol BuckmannJuly 13, 2020employeebenefits, CARES Act, cybersecurity

Carol Buckmann Weighs in on Law360 Article on New ERISA Lawsuit and Plan Cybersecurity Duties

Carol Buckmann Weighs in on Law360 Article on New ERISA Lawsuit and Plan Cybersecurity Duties

Carol Buckmann quoted in Law360 article about new ERISA lawsuits that could clarify plans' cybersecurity duties,

Firm News, Individual Retirement Account, Qualified Retirement Plan, Fiduciary Advice Carol BuckmannMay 26, 2020ERISA, cybersecurity, ERISA litigation, Fiduciary

New Lawsuit Against Abbott and Alight Could Clarify Fiduciary Responsibility for Cybersecurity

New Lawsuit Against Abbott and Alight Could Clarify Fiduciary Responsibility for Cybersecurity

We need more guidance on fiduciary responsibility to safeguard plan assets from hackers. This case could provide it.

Fiduciary Advice, Qualified Retirement Plan Carol BuckmannApril 19, 2020fiduciary breach, cybersecurity, ERISA litigation