News & Analysis as of September 16, 2024

Data Breach

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Managing the Impacts of the Change Healthcare Cyberattack

Nelson Mullins Riley & Scarborough LLP on 4/26/2024

UnitedHealth Group (“UHC”) announced on April 22, 2024, that it had paid a ransom to protect patient data potentially acquired in a late February cyberattack on its subsidiary Change Healthcare (“CHC”). In its announcement,...more

Plaintiffs Request Court Approval of $8.7M Settlement in ERISA Class Action Cyberattack Lawsuit

Holland & Knight LLP on 4/2/2024

Multi-employer plan participants involved in an Employee Retirement Income Security Act of 1974 (ERISA) class action lawsuit against Horizon Actuarial Services LLC (Horizon), a national retirement services firm, have entered...more

Podcast: Cybersecurity Risk Management for Pension Plan Administrators: Tips for Staying Ahead of the Hackers

Nossaman LLP on 10/6/2023

With recent well-publicized data breaches impacting pension systems and their retirees nationally, as well as increased Department of Labor scrutiny surrounding cybersecurity policies and procedures implemented by ERISA...more

Alight Solutions Must Comply with Subpoena Issued by DOL in Cybersecurity Incident Investigation

Robinson+Cole Data Privacy + Security Insider on 8/22/2022

A subpoena was issued to Alight Solutions by the U.S. Department of Labor (DOL) for documents related to a cybersecurity breach that potentially resulted in Employee Retirement Income Security Act (ERISA) violations. Alight...more

District Court Enforces DOL Investigative Subpoena Against Plan Service Provider Concerning Alleged Cybersecurity Breaches

Robinson+Cole ERISA Claim Defense Blog on 11/24/2021

A federal District Court judge in Illinois sided with the U.S. Department of Labor (DOL) in ordering Alight Solutions, LLC, an ERISA plan services provider, to comply with an administrative subpoena seeking documents...more

US Department of Homeland Security Publishes Strategic Plan on Artificial Intelligence

ArentFox Schiff on 8/18/2021

US Department of Homeland Security Publishes Strategic Plan on Artificial Intelligence - The Dep’t of Homeland (DHS) Security Science and Technology Directorate recently published its Artificial Intelligence & Machine...more

Department of Labor Announces Cybersecurity Guidance for ERISA Retirement Plans

Davis Wright Tremaine LLP on 4/28/2021

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently announced its first cybersecurity guidance for retirement plans subject to the Employee Retirement Income Security Act of...more

Cybersecurity: A Plan Sponsor Obligation

Faegre Drinker Biddle & Reath LLP on 1/29/2021

A recently filed lawsuit against a trust company serving as a 401(k) plan trustee, the second of its kind in the last few months, highlights the need for plan sponsor diligence in protecting participant data and accounts in...more

Personal Data From Thousands Of Pension Plan Accounts Breached…Third-Party Service Provider Blamed

Jackson Lewis P.C. on 12/24/2020

One of the last things pension plan participants would want to learn as they get ready to celebrate the Christmas holiday is that personal data from their pension accounts may have been compromised. This is the case,...more

Retirement Plan Cybersecurity: Don't Assume Outsourced Administration Is Duty Free

Morgan Lewis on 12/2/2019

For years, there has been a persistent trend toward outsourcing retirement plan recordkeeping and other administrative responsibilities. Although historically more prevalent for defined contribution plans, this outsourcing...more

Could This Be Your Retirement Plan?

Jackson Lewis P.C. on 4/8/2019

As reported by CBC, B.C. Pension Corporation announced a data breach involving pension plan records after discovering a box containing microfiche could not be found following a recent office move. The box contained personal...more

Cybersecurity Risks to Employee Benefit Plans - Are You Prepared?

Foley & Lardner LLP on 12/22/2017

Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more

Data Breach Risks for 401(k) and Retirement Plans

Jones Day on 4/18/2017

There has been a recent spike in attacks on 401(k) and retirement plans by cyber criminals. Some have been reported publicly, and we are aware of several nonpublic incidents as well....more

Cybersecurity Threats: What Retirement Plan Sponsors and Fiduciaries Need to Know – and Do

Poyner Spruill LLP on 3/8/2017

What is the Risk? The loss of employee personal information due to a cyber breach is an ever-increasing concern to all employers. After years of work to put into place protocols to comply with HIPAA’s requirements on...more

Retirement Plans Incur Data Breaches; ERISA Council Addresses Cyber Risks

McGuireWoods LLP on 11/30/2016

Until relatively recently, retirement plans have not made the news as targets of data breaches. This is somewhat surprising, given the wealth of participants’ personal data stored online by these plans. This past summer,...more

ERISA and Cybersecurity

McGuireWoods LLP on 6/6/2016

Employee benefit plan data stored online may include participants’ names and Social Security numbers, account information and protected health information (PHI), all of which are inviting targets for hackers....more

Employers with Group Health Plans: Have You Notified State Regulators of the Breach?

McDermott Will & Emery on 2/20/2015

Data security breaches affecting large segments of the U.S. population continue to dominate the news. Over the past few years, there has been considerable confusion among employers with group health plans regarding the...more

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