Insights

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In the May 2021 Employee Benefit Plans Alert headlined Cybersecurity Guidance for Retirement Plans, the specialists in our Employee Benefit Plans Group discussed the recently-released guidance from the Department of Labor (DOL) Employee Benefits Security Administration (EBSA) regarding the importance of adopting comprehensive cybersecurity best practices.

The purpose of this article is to provide information as to the designated term “plan documents” as it used in many legal and statutory situations and as frequently requested by auditors performing a financial statement review, regulatory examination, during an RFP process, due diligence, etc.

For the first time, the Department of Labor (DOL), through its Employee Benefits Security Administration (EBSA), is offering guidance to plan sponsors, fiduciaries, record keepers and other service providers, as well as plan participants, on maintaining cybersecurity.

As part of our commitment to helping our clients stay informed of changing Employee Benefits issues, we are pleased to provide you with new information and perspectives that were included in the Consolidated Appropriations Act (CAA, 2021).