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n September 6, 2024, the U.S. Department of Labor (DOL) confirmed its cybersecurity guidance applies to all employee benefit plans, including health and welfare plans. In 2021, the DOL issued guidance providing best practices in cybersecurity for plan sponsors, plan fiduciaries, recordkeepers, and plan participants. The retirement plan industry took notice and has generally made great efforts to improve cybersecurity practices and protect participants’ accounts and data. The new DOL compliance assistance release issued in early September clarifies that the health and welfare plan industry should also follow the prior guidan
Included among the DOL’s guidance are “Tips