It’s no secret plan sponsors face many pressures when it comes to administering benefit plans, especially when it comes to data security issues. Did you know, under ERISA, plan sponsors are responsible for monitoring and managing cybersecurity risk? Listen to a service provider’s view of the changing focus on cybersecurity and benefit plans. Risks associated with a plan’s cybersecurity will be discussed for auditors to assist clients and plan the benefit plan audit. All should attend the Cybersecurity and EBPs: How to Minimize the Risk session to hear about background on plan sponsor and auditor responsibilities when it comes to cybersecurity and plans. Come to this session to:
• Determine current and emerging threats facing benefit plans;
• Identify the mission and latest update from the Data Security Oversight Board (created by the SPARK Institute);
• Identify service provider responsibilities and risks related to entrusted data;
• Compare responsibilities between service providers, plan sponsors and auditors;
• Select best practices and practical tools to take back to your organization to ensure fiduciary responsibility is met over the plan.
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