cybersecurity

Cybersecurity: A Top Plan Sponsor Concern
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
According to Escalent’s 2025 Retirement Planscape study, more than half of employers rank cybersecurity as their No. 1 “plan fear,” ahead of poor investment performance (45%) and insufficient participant savings (43%). That concern is not without evidence. High-profile breaches, such as the recent attack on a leading recordkeeper affecting more than 1,000 employees and traced  Read More →
GAO on Crypto in 401(k)s: Risks and Oversight Challenges
Team SummitEmployer Resource Center, Fiduciary Governance, Plan InvestmentsComments are off for this post
Recent findings from the Government Accountability Office (GAO) highlight critical considerations for sponsors exploring cryptocurrency as a retirement plan investment option. The GAO report emphasizes that while cryptocurrency assets remain a small portion of the 401(k) landscape, they carry significant risk. Known for their high volatility, crypto assets like bitcoin can lead to substantial swings  Read More →
Protecting Benefit Plans from Cybersecurity Threats
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Many plan sponsors focus on external cybersecurity threats, such as hackers attempting to breach their systems, but disgruntled employees can also pose a risk. Recently, the Department of Labor (DOL) extended the scope of its cybersecurity guidelines to include all Employee Retirement Income Security Act (ERISA) plans, which include retirement, health, and welfare programs. This  Read More →

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