EBSA Clarifies Scope of 2021 Guidance
The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a Compliance Assistance Release to confirm that its 2021 cybersecurity guidance applies to all ERISA employee benefit plans, including health and welfare plans and not just pension benefit plans.
This clarification, the Release says, comes in response to suggestions from health and welfare plan service providers that the 2021 Guidance did not apply to health and welfare plans and 2022 recommendations by the DOL’s ERISA Advisory Council that EBSA make it clear that it does apply.
Key Points from the Guidance
Comprehensive Coverage: The guidance now explicitly covers both retirement and health benefit plans.
Service Provider Selection: This link offers tips for plan sponsors and fiduciaries to choose service providers with strong cybersecurity practices.
Cybersecurity Program Best Practices: This link provides guidance for plan fiduciaries and record-keepers on best practices for managing cybersecurity risks.
Online Security Tips: This link offers advice to plan participants and beneficiaries on protecting their personal information online.
Additional Resources
The Guidance also expressly calls out the following Department of Health and Human Services publications to help health and welfare plan and and their service providers maintain good cybersecurity practices:
Cybersecurity of employee benefits plans should be a top priority for all plan sponsors and plan service providers (both ERISA and Non-ERISA). Please feel free to request a consultation with a member of our team to discuss the new guidance and/or your plan cybersecurity needs.
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