Recently, the Teachers Retirement System of Georgia (“TRS”) posted a notice of PBI Data Breach” after discovering that PBI Research Services (“PBI”), a third-party vendor used by TRS, experienced a data breach related to the company’s use of MOVEit. In this notice, TRS explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their full names, Social Security numbers, dates of birth, TRS identification numbers, and addresses. Upon completing its investigation, PBI will begin sending out data breach notification letters in early August to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from PBI Research Services, it is essential you understand what is at risk and what you can do about it. While TRS doesn’t use MOVEit and no TRS systems were breached, confidential information provided by TRS to PBI was leaked. As a result, anyone whose information was compromised in the PBI / MOVEit breach faces an increased risk of identity theft and other frauds. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft as well as discuss your legal options following the Teachers Retirement System of Georgia data breach. For more information, please see our recent piece on the topic here.
What Caused the Data Breach Affecting the Teachers Retirement System of Georgia?
The PBI / Teachers Retirement System of Georgia data breach was only recently announced, and more information is expected in the near future. However, TRS’s notice provides some important information on what led up to the breach. According to this source, TRS uses PBI’s services to ensure accuracy in its payments to retirees and beneficiaries. In the normal course of business, PBI uses a secure file transfer program called MOVEit.
On May 31, 2023, Progress Software, the creator of MOVEit, announced a previously unknown vulnerability within MOVEit. This vulnerability allowed hackers to access information stored on MOVEit servers, including one belonging to PBI.
Upon learning of the MOVEit vulnerability, PBI launched an investigation into the incident. The PBI investigation determined that those who received TRS benefit payments between March 1, 2023 and May 26, 2023 were affected by the breach.
After learning that sensitive consumer data was accessible to an unauthorized party, PBI reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name, Social Security number, date of birth, TRS identification number, and address.
In early August, PBI will send out data breach letters to anyone who was affected by the recent data security incident.
More Information About Teachers Retirement System of Georgia
Teachers Retirement System of Georgia is the organization that oversees the retirement benefits paid to teachers in Georgia’s public schools, many employees of the University System of Georgia, and certain other employees in the education sector. TRS manages retirement accounts on behalf of 277,000 active members, paying monthly benefits to 137,000 retired members and survivors. TRS retiree payroll exceeds $5.4 billion dollars per year. Teachers Retirement System of Georgia employs more than 80 people and generates approximately $11 million in annual revenue.
