Following our Deferred Compensation News post from last week, “Cybersecurity for Your Defined Benefit Plan”, IslerDare PC has provided a relevant update on recent Employee Benefits Security Administration (EBSA) security updates from the Department of Labor (DOL).
Last month, the U.S. Department of Labor (DOL) issued a press release aimed at defined benefit plan sponsors, plan fiduciaries, record keepers, and plan participants. For the first time, the DOL’s Employee Benefits Security Administration issued cybersecurity guidance.
Earlier this month, a federal grand jury indicted an Orange County, California man on charges related to retirement plan fraud. The U.S. Attorney’s Office for the Central District of California reported that the plaintiff has been charged with three counts of bank fraud and one count of aggravated identity theft after allegedly obtaining the personal information of an unspecified number of Boeing employees.