Denver Partner Sheds Light on DOL’s Cybersecurity Guidance for Retirement Plans

In an interview with Law Week Colorado, Ed Hopkins discusses the Department of Labor’s (DOL) recently issued cybersecurity guidance aimed at protecting retirement accounts. Since the guidance focuses on cybersecurity protocols, Ed recommends that every organization with an ERISA-governed plan should schedule a meeting that includes the chief information security officer or cybersecurity management experts to discuss whether existing cybersecurity protocols already comply with the DOL’s guidance. He notes that “some of them may find that they’re already checking the box, but they won’t know until they actually meet with their information experts and assess their programs against this new guidance.” Ed also points out that the privacy component is very important “because at the end of the day, this guidance is really focusing on not only protecting the information from hackers but also managing it in such a way where no more private information is accessible to hackers than is necessary to run the operation.”

To read the article visit Law Week Colorado.